As of 4 p.m. ET, the Dow Jones Industrial Average added about 380 points, or 1.2%, and the S&P 500 rose 0.9%. The technology-focused Nasdaq Composite climbed 0.4%. The indices fell on Friday but have been relatively insulated from the banking crisis so far. Authorities sought to stem a dangerous decline in confidence in the … 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
After a frantic weekend of regulators to the rescue that sparked a rally for US stock futures on Sunday night, the mood turned more cautious, with the exception of tech futures still celebrating. Is that many banks are in the red before the opening on Monday. Nervous investors may be wary of more shoes dropping … Read more
Saudi Arabia’s national oil company posted a record $161 billion annual profit for 2022, the largest ever by an energy company, bolstering the kingdom’s coffers as it seeks to showcase its trade and foreign policy ambitions global markets and to limit its heavy dependence on oil. Saudi oil Co. 2222 1.23% known as Aramco, said … Read more
Posted: March 10, 2023 1:34 PM ET Bitcoin saw its losses deepen on Friday, falling below $20,000 for the first time since January, as investors fret over contagion from Silicon Valley Bank, which was shuttered by regulators and taken over by the Federal Deposit Insurance Corp. days after crypto-friendly Silvergate Bank said it would cease … Read more
U.S. stocks oscillated between small gains and losses on Wednesday as investors analyzed a second day of congressional testimony from Federal Reserve Chairman Jerome Powell and other data suggesting the labor market remains hot. The S&P 500 climbed 5.64 points, or 0.1%, to 3992.01, while the Nasdaq Composite rose 45.67 points, or 0.4%, to 11576.00. … Read more
One of the bond market’s most reliable indicators of impending U.S. recessions dipped further into triple-digit negative territory on Wednesday, as Federal Reserve Chairman Jerome Powell reiterated the need for higher interest rates. high and a possible reacceleration of the rate of increases. The widely followed spread between 2- and 10-year Treasury yields was minus … Read more
There will be no rest for investors this week as they await a landmark report on the state of the US labor market, as well as semi-annual congressional testimony from Federal Reserve Chairman Jerome Powell. To complicate matters further, investors will also be watching the reaction of equities to more attractive risk-free yields in the … Read more
