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☆ The Fed just paused on raising interest rates. Here's what it means for jobs, prices, and your bank account this summer.
▼ + stars: | 2023-06-14 | by ( Bartie Scott | Andy Kiersz | ) www.businessinsider.com time to read: +7 min

The Federal Reserve announced Wednesday that it would not raise interest rates this month. It's important to note that a one-time pause doesn't mean interest rates won't rise any more at future meetings, but the committee signaled that an end is in sight. The decision included a projection of two more 25 basis point rate hikes before the end of the year. Critics of the Fed's aggressive rate hikes over the last year have said they risk putting Americans out of work by squeezing businesses. The Fed needs to slow down on these extreme rate hikes and remember its dual mandate of price stability and maximum employment.

Persons: —, Jerome Powell, Noah Sheidlower, Jobs, Massachusetts Sen, Elizabeth Warren, Powell, it's, Joe Brusuelas, Brusuelas, Kathy Gramling, Marta Norton, Norton Organizations: Federal Reserve, Service, Fed, Capital Economics, Food, RSM, EY, Morningstar Wealth's America, Silicon Valley Bank, First, FDIC Locations: Massachusetts, EY Americas, Silicon, First Republic

REUTERS/Caitlin OchsJune 13 (Reuters) - Shares of U.S. banks rose on Tuesday after inflation data backed the view that the Federal Reserve will keep interest rates unchanged on Wednesday while leaving the door open for more hikes later that will further boost interest income. The data lifted the S&P 500 Banks Index (.SPXBK) 1.5%, while the KBW Regional Banking Index (.KRX) gained about 1.6%. Higher net interest income has helped cushion a slump in the banking sector's market-sensitive business units such as investment banking and trading. On Tuesday, Wells Fargo CFO Mike Santomassimo said the lender expected an upside to interest income this year going ahead. Missing the rally were shares of Zions Bancorporation (ZION.O) after executives said at a conference that interest income at the regional lender was trending toward.

Persons: Caitlin Ochs, Wells, Mike Santomassimo, JPMorgan Chase, Goldman Sachs, Morgan Stanley, Zions, Manya Saini, Sriraj Organizations: JPMorgan Chase Bank, REUTERS, Federal Reserve, Banks, JPMorgan, Citigroup, Bank of America, PacWest Bancorp, Western Alliance, Comerica, U.S . Bancorp, Thomson Locations: New York City, U.S, KBW, Monday's, Wells Fargo, Bengaluru

☆ The message top corporate CFOs are sending directly to Fed presidents isn't a bullish one
▼ + stars: | 2023-06-13 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +9 min

The Fed remains focused on the labor market and cooling wage growth while raising unemployment as the key to bringing hot services inflation down. "I shared with him [a regional Fed president] that they should stop, not pause," said another CFO on the call. "The consumer is being smart," the CFO said, but the Fed focus on bringing unemployment up can break the consumer. "I gave this message to him [a Fed president]: we can manage through this with unemployment below 4%." CFOs said the labor market remains tight and the wage gains, while slowing, have created a higher wage base which can't be turned back.

Persons: Jerome Powell, Drew Angerer, That's, Wall, Randy Kroszner, CFOs, Sara Eisen, Kroszner, it's Organizations: Federal Reserve, Federal, Market, Fed, CNBC, CNBC Fed Survey, Chatham House, Corporations, University of Chicago Booth School of Business Locations: Washington ,

[1/3] Signs of JP Morgan Chase Bank, Citibank and Wells Fargo & Co. bank are seen in this combination photo from Reuters files. The S&P 500 Banks Index (.SPXBK) rose 1.14%, while the KBW Regional Banking Index (.KRX) gained about 2%. JPMorgan Chase (JPM.N), Wells Fargo (WFC.N), Goldman Sachs (GS.N), Morgan Stanley (MS.N), Citigroup (C.N) and Bank of America (BAC.N) advanced between 1% and 2%. Higher net interest income has helped cushion a slump in the banking sector's market-sensitive business units such as investment banking and trading. Zions Bancorporation (ZION.O) shares fell 0.56% after its executives forecasted a slowdown in net interest income.

Persons: JP Morgan, Wells, Mike Santomassimo, Jack Janasiewicz, JPMorgan Chase, Goldman Sachs, Morgan Stanley, Zions, Manya Saini, Sriraj Kalluvila, Lisa Shumaker Organizations: JP Morgan Chase Bank, Citibank, Wells Fargo & Co, Federal Reserve, Labor Department, Traders, Natixis Investment, Banks, JPMorgan, Citigroup, Bank of America, Comerica Inc, Comerica, Bancorp, Western Alliance, U.S . Bancorp, National Bancorp, Thomson Locations: U.S, Wells, KBW, Monday's, Wells Fargo, Bengaluru

☆ As regional bank stock rally regains steam, investors should watch out for these spoilers
▼ + stars: | 2023-06-13 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +6 min

With the Federal Reserve expected to pause its rate-hiking campaign at this week's meeting, regional banks stocks have made a comeback, but that doesn't mean all the trouble is in the rearview mirror. Still, the upward march resumed on Tuesday, begging the question of what's ahead for bank stocks. As the Treasury sells tens of billions of dollars in Treasury bills, it could pressure bank deposits. Graseck predicts that a reacceleration of deposit outflows would snuff out the bank stock rally. In addition, regional bank earnings estimates, which had been cut severely in March and April, had leveled off in May.

Persons: Jack Ablin, Ablin, outflows, SVB, Aditya Bhave, Bhave, Morgan Stanley, Betsy Graseck, Graseck, Nicholas Colas, Huntington Bancshares, Matt O'Connor, KeyCorp, Albin Organizations: Federal Reserve, Fed, Cresset, Silvergate, Silicon Valley Bank, Signature Bank, PacWest Bancorp, Bank of America, Treasury, DataTrek Research, Citizens Financial Group, Truist, Morgan Stanley U.S, Financials, CRE Conference, Deutsche Bank, TFC Locations: Silicon, Federal, U.S, 2Q23, New York

☆ JPMorgan downgrades this regional bank stock, says earnings power looks challenged over the near term
▼ + stars: | 2023-06-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Rising expenses denting earnings growth create a murky near-term setup for shares of First Horizon , according to JPMorgan. Analyst Steven Alexopoulos moved to a neutral rating on the regional bank stock after a non-rating period, saying that the company's recent investor day failed to improve near-term confidence. The Wall Street firm previously held an overweight rating on shares and $20 price target. Shares of First Horizon faced significant pressure this year as the regional banking crisis unraveled and led to the collapse of Silicon Valley Bank and Signature Bank, and takeover of First Republic. Amid this backdrop, the stock's tumbled nearly 52%, with the firm's $13 price target suggesting 10% upside from Monday's close.

Persons: Steven Alexopoulos, Alexopoulos, CNBC's Michael Bloom Organizations: JPMorgan, Street, Horizon, Silicon Valley Bank, Signature Bank, First Locations: Silicon, First Republic

☆ ‘Bumps and pain’ coming for the US economy, says Goldman Sachs CEO
▼ + stars: | 2023-06-12 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —The US economy has been surprisingly resilient this year, but painful bumps are likely coming, said Goldman Sachs CEO David Solomon in an interview with CNBC on Monday morning. In this good-is-bad economy, strong employment and higher wages mean higher inflation as companies pass on increased labor costs by raising the price of goods. Like its Wall Street rivals, Goldman Sachs has been hit by a slump in dealmaking and activity. In January, Goldman Sachs launched much deeper layoffs that were expected to result in the loss of as many as 3,200 employees. Last September, Goldman also let go of underperformers as part of a normal process at the bank.

Persons: Goldman Sachs, David Solomon, ”, Solomon, ” Solomon, “, —, JPMorgan Chase, Goldman, “ We’re Organizations: New, New York CNN, CNBC, Federal, Fed, Silicon Valley Bank, Bank, JPMorgan, CNN Locations: New York, United States, Silicon, underperformers

☆ This regional bank can benefit from the online betting boom, JPMorgan says
▼ + stars: | 2023-06-12 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

A small bank based in West Virginia has positioned itself as a key figure in the online betting world, and that first-mover advantage should have staying power, according to JPMorgan. "We find that the MVB team has been forming an ecosystem around the bank over the past five years serving the online gaming industry (which was legalized at the federal level in 2018). MVB Edge Ventures is a subsidiary of the bank, and it provides management oversight for the firm's tech investments. JPMorgan first initiated coverage of MVB with an overweight rating on Feb. 27 , before the failure of Silicon Valley Bank. MVBF YTD mountain Shares of MVB Financial have performed better than many other regional bank stocks in 2023.

Persons: Steven Alexopoulos, MVB, that's, — CNBC's Michael Bloom Organizations: JPMorgan, MVB, Edge Ventures, MVB Edge Ventures, Silicon Valley Bank, Regional Banking Locations: West Virginia, Silicon, MVB

☆ Here are analysts' favorite regional banking stocks as sector recovers from its crisis lows
▼ + stars: | 2023-06-11 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Investors could have reason to warm up to regional bank stocks. Over the past month, the regional bank fund has added nearly 17%. While the KRE is still well below its crisis-era lows from early May, some regional bank stocks seem to have swayed analysts that the worst is behind them. KRE 1M mountain The regional bank ETF over the past month. While the bank felt the pressure from the broader regional banking crisis, analysts aren't fleeing the stock.

Persons: aren't Organizations: Silicon Valley Bank, Regional Banking, CNBC, JPMorgan, FactSet, National, Western Alliance, WAL, Citizens Financial, Bancorp Locations: Republic

☆ It's Wall Street vs Wall Street as the recession debate rages on. Here's what David Rosenberg, Jeff Gundlach and 5 other experts have warned.
▼ + stars: | 2023-06-10 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +6 min

Wall Street experts are butting heads over the health of the economy, and what's to come. David Rosenberg, Rosenberg Research president"Markets pricing in a 'soft landing'? Will they ever be in for a big surprise," the Rosenberg Research chief tweeted. "You look at the United States and it seems to me that we're still making this transition from expansion to recession," Rosenberg said. "We're referring to this phenomenon as a Cardboard Box Recession, because items that are made (manufacturing) and shipped (trade) tend to go in a box.

Persons: David Rosenberg, Jeff Gundlach, Clif Asness, —, Rosenberg, Will, hasn't, we're, Gundlach, Jeffrey Kleintop, Charles Schwab, Kleintop, Goldman Sachs, That's, Jan Hatzius, Hatzius, Jim Reid, David Folkerts, Landau, Reid, Folkerts, Nicholas Colas Organizations: Service, Federal Reserve, Rosenberg Research, DoubleLine Capital, CNBC, Fibre, Association, Deutsche Bank, Deutsche Locations: United States

☆ Debt ceiling deal done? Here's what's next for bond ETF investors
▼ + stars: | 2023-06-10 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +2 min

With an agreement on the debt ceiling easing concerns on the macro level, the aftereffects of avoiding default could pose new challenges for bond exchange-traded fund investors. "Now [The Fed] is going to hit it with trillion dollars of sales that will make short-term Treasury rates rise," he said. Additionally, the trillion dollars taken out of the regional banking system and placed into money market funds added pressure on big and systemic banks, he said, increasing the Fed's constraint. As money market yields continue to rise, Lutnick said he sees capital continuing to flow out of equities and into money market funds and Treasury bond ETFs. "You're going to see the stock market go sideways, but the bond market is going to continue to draw in money and get a lot of power," Lutnick said.

Persons: Howard Lutnick, CNBC's Bob Pisani, Lutnick, Billy Hult, Hult, That's Organizations: Treasury Locations: Treasurys

☆ The Best CD Rates Are from Credit Unions Right Now. Here Are the Top Offers
▼ + stars: | 2023-06-08 | by ( ) www.wsj.com time to read: +7 min

But with many credit unions struggling to attract deposits their CD terms are especially sweet right now, experts say. The upshot: Half of the top 12 CD rates on DepositAccounts.com, a site that aggregates banking rates, are offered by credit unions. Why credit unions have such high CD rates nowCredit unions frequently offer financial products with more attractive interest rates and lower fees than conventional banks. The best credit union CD ratesWith nearly 5,000 credit unions in the country, there are plenty of favorable CD and share certificate rates out there. The FDIC doesn’t cover credit unions, but a different agency, the National Credit Union Administration, or NCUA, provides a parallel level of protection.

Persons: Martha C, they’ve, They’re, you’re, ”, Dawit Kebede, Curt Long, branchless Organizations: Credit, Nonprofit, Credit Union National Association, National Association of, “, don’t, Workers Credit Union, of, Financial, Association, Workers, Bellco, Bellco Foundation, Dow Credit Union, Dow Credit, Bank, Federal Deposit Insurance Corp, FDIC, National Credit Union Administration Locations: Silicon Valley, DepositAccounts.com, Central Massachusetts, Colorado

☆ The U.S. economy keeps skirting recession, but consumer sector might slowly be splitting apart
▼ + stars: | 2023-06-08 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

The signals that economists lean on to gauge the odds of a recession are contradictory at the moment. The yield curve remains deeply inverted, and manufacturing surveys have been flashing recession signals for months. On Tuesday, Goldman Sachs lowered its odds of a U.S. recession in the next 12 months to just 25%. watch nowBut can the strong consumer sector continue to hold up as the pandemic-era savings fade away and interest rates remain elevated? Stock Chart Icon Stock chart icon Dollar General's stock fell sharply after the retailer cut its full-year outlook.

Persons: Mike Blake, Goldman Sachs, Marko Kolanovic, Lauren Goodwin, Goodwin, It's, Nick Bunker, they're, Bunker Organizations: Reuters, Federal Reserve, PMI, JPMorgan, New York Life Investments, Target, American Airlines, Labor, Meta, Disney, North America Locations: Carlsbad , California, U.S

☆ Futures muted as bond yields rise on rate jitters
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures up: Dow 0.01%, S&P 0.06%, Nasdaq 0.09%June 8 (Reuters) - U.S. stock index futures were largely flat on Thursday as government bond yields hovered near recent highs on worries that major central banks could keep raising interest rates. The benchmark S&P 500 (.SPX) and the tech-heavy Nasdaq (.IXIC) closed lower on Wednesday, with megacap stocks leading declines as U.S. bond yields rose after the Bank of Canada (BoC) surprised markets with an interest rate hike. The 2-year Treasury yield , which tends to move in step with short-term rate expectations, rose for a third day to 4.56%, as investors await the Federal Reserve meet next week. Eventually we don't think the Fed will hike in July," Jefferies strategist Mohit Kumar said. They see a 50% chance of a rate hike in July.

Persons: Jefferies, Mohit Kumar, Russell, Thierry Breton, Ryan Cohen, Zhu Jiang, Sruthi Shankar, Vinay Dwivedi Organizations: Dow, Nasdaq, Bank of Canada, BoC, Microsoft Corp, Apple Inc, Amazon.com Inc, Treasury, Reserve, Traders, U.S . Labor Department, Dow e, Meta, Inc, GameStop Corp, Thomson Locations: U.S, KBW, China, Bengaluru

The small-cap index Russell 2000 (.RUT) ticked higher as investors kept moving away from megagap and growth stocks after their strong gains. Recently, U.S. shares have been boosted by a megacap stocks rally and a stronger-than-expected earnings season, with the S&P 500 (.SPX) up almost 20% from its October 2022 lows. Wells Fargo raised the price target on Netflix (NFLX.O) shares to $500 from $400, the highest on Wall Street, according to Refinitiv. Energy index (.SPNY) rose after oil prices edged higher, while the KBW Regional Banking Index (.KRX) hit a two-month high. According to preliminary data, the S&P 500 (.SPX) lost 16.31 points, or 0.38%, to end at 4,267.54 points, while the Nasdaq Composite (.IXIC) lost 170.59 points, or 1.28%, to 13,105.83.

Persons: Wells, Russell, we've, Paul Baiocchi, jitters, Wells Fargo, Campbell, Shubham Batra, Shristi, Vinay Dwivedi, Richard Chang, David Gregorio Our Organizations: Netflix, Nasdaq, SS, C ALPS Advisors, Treasury, Bank of Canada, Federal, Dow Jones, Yext, U.S . Securities, Exchange Commission, SEC, Invest, Thomson Locations: megagap, U.S, KBW, York, Coinbase, Bengaluru

☆ Millionaires are hoarding cash, betting on higher rates, CNBC survey says
▼ + stars: | 2023-06-07 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

Millionaire investors are adding to their mountains of cash, betting on higher interest rates and weak stock markets in 2023, according to the CNBC Millionaire Survey. Of the survey respondents, 28% said they have purchased more fixed income, as they expect interest rates to remain high. Millionaire investors are still betting inflation will persist for years, potentially keeping interest rates higher for longer. Three-quarters of millennial millionaires say inflation will come down to 2% within two years, with one in four saying it will hit the 2% target within a year. CNBC's Millionaire Survey was conducted online in April.

Persons: Elias Ghanem, George Walper, Walper Organizations: CNBC Millionaire Survey, Capgemini Research Institute, Financial Services, Spectrem, Millionaire Survey, CNBC, Millionaires, Millionaire, Valley Bank, First, Signature Bank, Federal Deposit Insurance Corporation

SummarySummary Companies For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. The S&P 500 is up almost 20% from its October 2022 lows, boosted by gains in megacap stocks, a stronger-than-expected earnings season and hopes that the U.S. central bank is nearing the end of its interest rate-hike cycle. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 30, 2023. Financials (.SPSY) led gains among the 11 major S&P 500 sectors, while the KBW regional banking index (.KRX) was firmly in the green. Recent economic data and dovish remarks from Fed officials have raised the odds of the Fed holding interest rates at its June 13-14 meeting.

Persons: Piper Sandler, Jack Ablin, Brendan McDermid, Russell, Coinbase, Sruthi Shankar, Shristi, Vinay Dwivedi, Deepa Babington Organizations: U.S, SEC, Dow Jones, Nasdaq, New York Stock Exchange, REUTERS, U.S . Securities, Exchange Commission, Devices, Thomson Locations: megacap, U.S, New York City, Bengaluru

☆ US bank stocks rebound, regional banking index hits 6-week high
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +1 min

June 6 (Reuters) - Shares of major U.S. banks and regional lenders outperformed broader markets in morning trading on Tuesday with the KBW Regional Banking index (.KRX) hitting its highest since late April. The tenuous relief rally comes at a difficult time for the banking sector that has been grappling with worries around deposit flight, rising interest rates and exposure to commercial real estate since March. The S&P 500 Banks index (.SPXBK) advanced about 2.3%. Regional lenders were also higher, with PacWest Bancorp (PACW.O), Western Alliance (WAL.N), Zions Bancorp (ZION.O), Comerica (CMA.N), M&T Bank Corp (MTB.N) and KeyCorp (KEY.N) rising between 4.9% and 8.5%. The volatility in shares of regional lenders has underscored ongoing investor uncertainty over the health of the sector, with the KBW Regional Banking index losing roughly 22% so far this year.

Persons: Wells, Goldman, Morgan Stanley, Manya Saini, Shounak Dasgupta Organizations: KBW, JPMorgan Chase &, Wells Fargo & Co, Goldman Sachs Group Inc, Citigroup, Bank of America Corp, PacWest Bancorp, Western Alliance, Zions Bancorp, Comerica, T Bank Corp, Bank, Reuters, Thomson Locations: U.S, Bengaluru

June 5 (Reuters) - Tighter lending standards from regional banks are making it harder for U.S. hotel developers to secure funding, slowing construction of new hotels at a time Americans' appetite for travel is ripe. Analysts say slower hotel development will also limit profits of blue-chip manufacturers like Caterpillar Inc. , whose commercial real estate customers account for around 75% of construction sales. Overexposed regional banks are now offloading commercial real estate loans at a discount. Troubled regional lender PacWest Bancorp (PACW.O) announced in May it would sell $2.6 billion worth of real estate construction loans. Banks started to reduce their hotel loan portfolios in the first quarter of 2023, an analysis by S&P Global Market Intelligence found.

Persons: Joseph Delli Santi, James Hansen, Andy Ingraham, Ingraham, Evens Charles, Banks, Mitchell Hochberg, Bianca Flowers, Caroline Stauffer, Deepa Babington Organizations: U.S, Silicon Valley Bank, Shopoff, Reuters, Build Central Inc, Hilton, Hilton Worldwide Holdings Inc, Marriott International, Caterpillar Inc, Signature Bank, First Republic Bank, National Association of Black, Developers, Frontier Development, Hospitality Group, Washington D.C, PacWest Bancorp, P Global Market Intelligence, Lightstone, Thomson Locations: Silicon, California, Florida , Texas, Washington, Arizona, New York, Chicago, Bengaluru

☆ Premarket stocks: Main Street traders are taking big risks. They might not pay off
▼ + stars: | 2023-06-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

But Main Street isn’t listening. New data from TD Ameritrade shows that retail investors shrugged off US debt ceiling uncertainty and recessionary fears last month as they increased their exposure to markets. That index aggregates Main Street investor positions and activity to measure how they’re positioned in the market. Retail investors also piled out of AI and tech stocks as the sectors surged in May, opting instead to put their money into riskier bets. But these trades are risky and while an institutional investor might lose their job for making a big mistake, a Main Street trader could lose their shirt.

Persons: New York CNN — “, recessionary, Dow, they’ve, Alex Coffey, Ameritrade, “, ”, Coffey, Binance, Changpeng Zhao, Zhao, Gary Gensler, Hanna Ziady, Willie Walsh, ” Walsh, Walsh Organizations: CNN Business, Bell, New York CNN, Federal Reserve, First Republic Bank, Nasdaq, Research, CNN, PayPal, Disney, Coffey Retail, US Securities and Exchange Commission, SEC, Global, International Air Transport Association, Airlines Locations: New York, USA, bro

☆ There are 2 big reasons why the chances of a recession in the next year have dropped, according to Goldman Sachs
▼ + stars: | 2023-06-06 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The chances of a recession hitting the US economy within the next 12 months have dropped, according to Goldman Sachs. The bank lowered its odds of a recession hitting the US economy to 25% from 35% in a Tuesday note. These are the two big reasons Goldman Sachs feels more confident about the economic outlook. The bank's top economist Jan Hatzius lowered the chances of a recession to 25% from 35% in a note on Tuesday. Hatzius offered two other reasons why he sees lower odds of a recession, according to the note.

Persons: Goldman Sachs, —, Jan Hatzius, Hatzius, Joe Biden Organizations: Service, White

☆ Meredith Whitney is back. Here's her latest market call
▼ + stars: | 2023-06-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Famed analyst Meredith Whitney has ended a self-imposed exile from a finance world that she said had become "like watching paint dry." "Why I say there's no risk for an immediate downturn is because there's no forced selling," Whitney told CNBC's Sara Eisen during a " Squawk on the Street " interview. That forecast came after she had left Oppenheimer to start the Meredith Whitney Advisory Group, which she eventually shuttered to launch a hedge fund that no longer exists. Finance "was like watching paint dry, and things started to change about 18 months ago," Whitney said. In the current landscape, Whitney thinks the problems plaguing regional banks are collective "one-offs" that won't cause systemic damage.

Persons: Meredith Whitney, Whitney, CNBC's Sara Eisen, Oppenheimer Organizations: CNBC, Lehman, Citigroup, Meredith Whitney Advisory Group, Finance Locations: Silicon, Republic

☆ Stock futures are flat after S&P 500 notches highest close since August: Live updates
▼ + stars: | 2023-06-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 30, 2023. Stocks futures were flat in overnight trading after the S&P 500 notched its highest closing level of 2023. Dave & Buster's gained about 4% after the bell, while Stitch Fix added nearly 5%. S&P 500 futures and Nasdaq-100 futures traded flat. The broad index added 0.24% to finish at its highest level since August 2022, while the Nasdaq Composite rose 0.36% to end at its highest close in 2023.

Persons: Buster's, Goldman Sachs, Morgan Stanley, Tuesday's uptrend, Adam Sarhan Organizations: New York Stock Exchange, Stocks, Dave, Dow Jones, Nasdaq, Merck, UnitedHealth, Investments, Campbell Soup, GameStop Locations: New York City, U.S

Most big bank stocks were trading lower in afternoon trading with the S&P 500 banking index (.SPXBK) down nearly 1% on Monday. U.S. regulators, led by the Federal Reserve, are also expected to propose this month increasing average bank capital requirements by as much as 20% a person familiar with the matter told Reuters. Regional bank stocks also logged broad declines on Monday, with the KBW Regional Banking Index (.KRX) shedding 2%. The impending international capital rules come amid a broader Fed review of lenders' capital requirements. "It's not shocking that you should expect to see some capital requirements being increased and a little more oversight is expected given what has happened with regional banks," Janasiewicz said.

Persons: Wells, Goldman, Morgan Stanley, Jack Janasiewicz, Janasiewicz, Chibuike Oguh, Manya Saini, Michelle Price, Lance Tupper, Aurora Ellis Organizations: YORK, JPMorgan Chase &, Wells Fargo & Co, Goldman Sachs Group Inc, Citigroup, Bank of America Corp, Treasury, Natixis Investment, U.S, Federal Reserve, Reuters, Street Journal, Basel Committee, KBW, PacWest Bancorp, Western Alliance, Comerica Inc, Thomson Locations: U.S, Basel, Regional, New York

Persons: Joseph Delli Santi, James Hansen, Andy Ingraham, Ingraham, Evens Charles, Banks, Mitchell Hochberg, Bianca Flowers, Caroline Stauffer, Deepa Babington Organizations: U.S, Silicon Valley Bank, Shopoff, Reuters, Build Central Inc, Hilton, Hilton Worldwide Holdings Inc, Marriott International, Caterpillar Inc, Signature Bank, First Republic Bank, National Association of Black, Developers, Frontier Development, Hospitality Group, Washington D.C, PacWest Bancorp, P Global Market Intelligence, Western Alliance, Lightstone, Thomson Locations: Silicon, California, Florida , Texas, Washington, Arizona, New York, Chicago, Bengaluru

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