The surge in deposits moving from small banks to large institutions, including JPMorgan Chase and Wells Fargo, has slowed to a trickle in recent days, CNBC has learned. Deposit flight, which has rocked global markets and forced regulators to intervene to protect bank customers, began to improve around March 16, people with knowledge of the … Read more
My top 10 things to watch Wednesday, March 22 1. The Fed meeting: does it really matter? Despite the banking crisis, the market is betting nearly 90% on another quarter-point interest rate hike on Wednesday afternoon. Investors are looking for any forward-looking comments in Fed Chairman Jerome Powell’s policy statement and post-meeting press conference. The … Read more
It’s not just regional bank stocks that have been hit by the recent banking crisis – large-cap bank stocks have also fallen. But some analysts believe the drop is overdone and retail investors flocked to buy the drop in the biggest traditional US banks last week. Still, there may be more room to run. JPMorgan … Read more
A tumultuous week in U.S. financial markets ended on an uncertain note on Friday after a massive injection of $30 billion in deposits from major banks into First Republic Bank failed to calm investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began … Read more
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, March 16, 2023. Brendan McDermid | Reuters Here are the most important information investors need to start their trading day: It looks like the major stock averages could come out on top this week, on pace with a winning week … Read more
The liquidation of regional banks is overdone, with four names looking particularly attractive at these levels, according to UBS. While bank stocks rose on Thursday, volatility increased this week. The banking sector began to nose dive shortly before the Silicon Valley Bank collapse and continued this week, although regulators said on Sunday they would back … Read more
The Federal Deposit Insurance Corp. said Monday it had transferred all deposits, insured and uninsured, from the old Silicon Valley Bank to a new full-service bridge bank operated by the FDIC as part of an action to protect all depositors from the bank. . The move comes after the regulator closed the bank and its … Read more
JPMorgan Chase has sued its former investment banking chief Jes Staley over his ties to disgraced former financier Jeffrey Epstein, alleging Staley is responsible for any legal fallout from a pair of lawsuits against the bank. The company on Wednesday filed a lawsuit against Staley who was seeking to recoup his last eight years of … Read more
A worker enters SalesForce Tower in San Francisco, California, U.S., Monday, March 14, 2022. David Paul Morris | Bloomberg | Getty Images Find out which companies are making headlines before the bell. Salesforce – Shares of the cloud software maker soared nearly 16% pre-market after the company beat Wall Street estimates in its latest earnings … Read more
