Silicon Valley's tech community relied on the leadership of Silicon Valley Bank for four decades. Now they're not sure what to do. Plus, UBS has purchased its former rival, Credit Suisse for $3.25 billion. US stock futures were slightly lower after UBS took over Credit Suisse. European markets were a bit higher in early trade. Asian indexes closed sharply lower.
Mar 20, 2023
The Fed has a tough path ahead, here's what could happen at the central bank's policy meeting next week. Plus, First Republic Bank gets a 30 billion dollar lifeline from its contemporaries. US stock futures are mixed after First Republic Bank got a 30 billion dollar lifeline from a consortium of larger banks. European markets were higher in early trade. Asian indexes closed sharply higher.
Mar 17, 2023
Who is to blame for the current banking meltdown? Plus, beleaguered megabank Credit Suisse borrows more than $50 billion from Swiss National Bank. US stock futures are mixed after Credit Suisse's said it would borrow up to 50 billion Swiss Francs from the Swiss National Bank as a crucial lifeline. European markets were higher in early trade. Asian indexes closed sharply lower.
Mar 16, 2023
Everything you wanted to know about the Fed's new bank funding program but were afraid to ask. Plus, PPI, bank stocks and retail sales: What investors are watching today. US stock futures are down sharply after Credit Suisse's biggest shareholder appeared to rule out providing any more funding for the embattled Swiss lender. European markets were sharply lower in early trade. Asian indexes closed higher.
Mar 15, 2023
It's easy to see why the current chaos in the banking sector is being compared the global financial crisis of 2008, but other comparisons are more apposite. Plus, how the Fed might be thinking about today's inflation report in light of the SVB failure.
Mar 14, 2023
It's hard to explain what's happening to the economy and so economists are turning to metaphors to help. Plus, US authorities guarantee all SVB deposits.
Mar 13, 2023
The gender pay gap is stickier than inflation. That could get worse as the Federal Reserve fights to cool the economy. Plus jobs, bank stocks and Biden's budget. US stock futures are falling, after Wall Street took a beating Thursday from a big banking sell-off triggered by trouble at tech-lender SVB Financial Group. European markets are skidding lower, with bank stocks hit hard. Asian indexes closed with losses.
Mar 10, 2023
Everyone is a meme trader these days, even smart money. Plus, jobs, housing and a warning to Big Tech: What Wall Street is paying attention to. US stock futures are ticking lower. European markets are also weaker in early trade. Asian indexes closed mixed.
Mar 9, 2023
Jerome Powell sent markets falling on Tuesday. That could be a good thing. Plus, Elizabeth Warren, going green and bank stocks: Takeaways from Powell's Congressional testimony. US stock futures are ticking higher after Tuesday's slide. European markets are mixed in early trade. Asian indexes closed with losses, although Japan's Nikkei bucked the trend.
Mar 8, 2023
Fed head Jerome Powell testifies before Congress: What we're watching. Plus, why no one can say if a recession is coming or not.
Mar 7, 2023