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☆ Premarket stocks: Fed Chair Powell is about to get grilled by Congress. Here’s what markets want to hear
▼ + stars: | 2024-03-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Fed Chair Jerome Powell has a chance to provide more insight when he testifies before Congress on Wednesday and Thursday. Those reports pushed back market bets on when the Fed will start cutting interest rates. Investors will closely listen for any hints from Powell about what the Fed is looking for, data-wise, before it begins to lower interest rates. Powell will also be asked about the economic pain Americans are feeling as a result of elevated inflation and interest rates. When interest rates fall, holding income-paying assets (like bonds) becomes less appealing than owning the precious metal.

Persons: Jerome Powell, there’s, ”, Powell, —, Emanuel Cleaver, Dave Sekera, Claudia Sahm, ” Powell, Krystal Hur, Samantha Murphy Kelly, “, ” Mengmeng Zhang Organizations: CNN Business, Bell, New York CNN, Federal, Investors, Missouri Democrat, Politico, Morningstar, Morningstar . New York Community Bank, Fitch, Moody’s Investors Service, Federal Reserve, Costco, Apple, Counterpoint Research, Huawei, Counterpoint Locations: New York, Missouri, Morningstar ., China

☆ NYCB fallout has longer-term ramifications for regionals now, says Ritholtz's Josh Brown
▼ + stars: | 2024-03-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNYCB fallout has longer-term ramifications for regionals now, says Ritholtz's Josh BrownJosh Brown, Ritholtz Wealth Management CEO, joins 'Closing Bell' to discuss NYCB's stock plunging, what it means for the regional banking sector, and more.

Persons: Ritholtz's Josh Brown Josh Brown Organizations: Ritholtz Wealth Management

☆ Bitcoin rockets to an all-time high above $69,000, surpassing 2021 record
▼ + stars: | 2024-03-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

"Bitcoin reclaiming its all-time high yet again shows it is never going away," said Alex Thorn, head of research at Galaxy Digital. Catalysts driving the surge in the cryptocurrency include the U.S. spot bitcoin ETFs that started trading earlier this year, along with the tightening bitcoin supply ahead of the late April "halving." "The odds have always been against bitcoin," Thorn said, citing naysayers who have referred to it as "a bubble" and compared it to the "tulip mania" in Holland during the 1600s. "Retail interest is oftentimes momentum driven, and all-time high levels are a pivotal momentum driver for even more investment," he told CNBC. Nevertheless, U.S. spot bitcoin ETFs have brought legitimacy to it and been hugely popular, with BlackRock's iShares Bitcoin Trust (IBIT) passing $10 billion in assets under management last week.

Persons: Jaap Arriens, FTX, crypto's Lehman, Alex Thorn, bitcoin, Clara Medalie, Thorn, naysayers, Needham, John Todaro, Crypto, BlackRock's Organizations: NurPhoto, Getty, Metrics, Galaxy, CNBC, Securities and Exchange Commission Locations: U.S, Holland

☆ Regional banks will need to consolidate unless the Fed cuts rates aggressively, says Barry Knapp
▼ + stars: | 2024-03-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRegional banks will need to consolidate unless the Fed cuts rates aggressively, says Barry KnappBarry Knapp, Ironsides Macroeconomics managing partner and director of research, joins 'Squawk Box' to discuss the latest market trends, the state of the economy, regional banking crisis, the Fed's inflation fight, and more.

Persons: Barry Knapp Barry Knapp Organizations: Ironsides

☆ NYCB stock tumbles to lowest level since 1996
▼ + stars: | 2024-03-04 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

New York CNN —Shares of New York Community Bank (NYCB) fell 23% Monday, hitting their lowest level since 1996. The issues caused a $2.4 billion loss to shareholders last quarter, NYCB said. That caused the stock to plunge, bringing it to its lowest level since 1997. NYCB’s troubles are having a mixed effect on other regional bank stocks. Shares of Valley National Bank (VLY) closed 5.6% lower on Monday, while Zions Bancorporation (ZION) closed 1% higher.

Persons: NYCB, Alessandro DiNello, Zions Organizations: New, New York CNN, New York Community Bank, Fitch, Moody’s Investors Service, First Republic Bank, Silicon Valley Bank, Signature Bank, National Bank Locations: New York, Silicon, NYCB, ZION

☆ New York Community Bank's issues are name-specific, not industry-wide, says Anton Schutz
▼ + stars: | 2024-03-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew York Community Bank's issues are name-specific, not industry-wide, says Anton SchutzAnton Schutz, President and CIO at Mendon Capital Advisors, discusses New York Community Bank and the rest of the regional banking sector.

Persons: Anton Schutz Anton Schutz Organizations: New York Community, Mendon Capital Advisors, New York Community Bank Locations: Mendon

☆ Investors should tread carefully in March after bitcoin's explosive rally to $60,000
▼ + stars: | 2024-03-03 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

With bitcoin on a hot streak this past week, investors should brace themselves for a cooling in March. "But cash inflows into spot bitcoin ETFs are accelerating, and that seems to have been overpowering those technical signals." Although Bitcoin traded above $62,000 to end the week, it's realized price was down at the $42,000 level, according to CryptoQuant. CryptoQuant also showed the cost of opening new long positions in the futures market spiked in the recent rally, which historically signals a coming correction in the bitcoin price. Ether, however, has ended the month higher in six of the last eight March's since its inception, with an average gain on the month of 25%.

Persons: Yuya Hasegawa, Hasegawa, Julio Moreno, Bitcoin, it's, bitcoin, CryptoQuant, David Duong, Duong, Michael Bloom Organizations: JPMorgan, CNBC, Federal, New York Community Bancorp Locations: New York

☆ Consumers fended off a recession — but keep spending like there's no tomorrow
▼ + stars: | 2024-02-29 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

Read previewAmerican consumers have staved off a recession by relentlessly spending despite soaring inflation, surging interest rates, multi-industry turmoil, and wider economic jitters. AdvertisementBurry predicted that dwindling savings and ballooning debts would choke consumer spending, eroding corporate earnings and sparking a wider recession. That's going to lead to a retrenchment in consumer spending as we get into the new year." That "brings us just a little closer to the consumer recession that nobody believes is going to happen," he added. "With those sources of funding largely exhausted, consumer spending will no doubt grow more slowly than after-tax incomes in future years."

Persons: —, Here's, Michael Burry, Elon, Elon Musk, Spencer Platt, Carl Weinberg, David Rosenberg, Merrill Lynch, Rosenberg, Gary Shilling, Merrill Lynch's, who's, Shilling Organizations: Service, Business, Twitter, Scion Asset Management, Elon Musk, Getty, Rosenberg Research, North Locations: North American

☆ Huntington Bancshares CEO: We've been using AI selectively for years, but we're a people business
▼ + stars: | 2024-02-26 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Huntington Bancshares CEO: We've been using AI selectively for years, but we're a people businessHuntington Bancshares Chairman, President and CEO Stephen Steinour joins 'Mad Money' host Jim Cramer to talk the state of regional banking.

Persons: Huntington, We've, Stephen Steinour, Jim Cramer Organizations: Huntington Bancshares

☆ These stocks are well positioned for when the Federal Reserve starts cutting rates, Barclays says
▼ + stars: | 2024-02-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

This would likely push the Federal funds target range to between 4.5% to 4.75% by the end of this year, he said. Take a look at the stocks Barclays thinks are best-positioned for lower rates later this year. Darden Restaurants is one of the consumer names Barclays believes can outperform when the Fed loosens rates. Clothing retailer Gap is another stock Barclays believes will be a rate-cut cycle winner. GPS YTD mountain The Gap shares in 2024 Agribusiness company Bunge also made the cut.

Persons: Terrence Malone, Malone, Jeff Bernstein, Bernstein, Jason Goldberg, Goldberg, Adrienne Yih, Bunge, Ben Theurer, —, Michael Bloom Organizations: Barclays, Darden, Olive Garden, LongHorn, Fifth, Bancorp, Old Navy, Banana, Analysts, Bunge Locations: Olive, Banana Republic

☆ Everyday investors are feeling good about the market again
▼ + stars: | 2024-02-23 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Retail investors are optimistic about the stock market again despite a backdrop of geopolitical and economic uncertainty. CNN’s Fear & Greed Index, which measures seven barometers of market sentiment, closed at an “extreme greed” reading on Thursday. Unsurprisingly, investors are largely bullish on artificial intelligence-related stocks over the next three months, according to the Schwab survey. The job market has also stayed remarkably strong even as interest rates hover around a 23-year high, helping keep recession worries at bay. About 48% of traders believe the US will likely avoid a recession this year, up from 23% last quarter, according to the Schwab survey.

Persons: Charles Schwab, Schwab, ”, James Kostulias, stoking, Anna Bahney, —, Lawrence Yun, Read, Henri Nestlé, Wegovy, Hanna Ziady, Mark Schneider, ” Read Organizations: CNN Business, Bell, New York CNN, Retail, “, Dow Jones, Bureau of Labor Statistics, Federal, National Association of Realtors, NAR Locations: New York, United Kingdom, Japan, Washington, Swiss

☆ Warren Buffett's Berkshire keeps new stock pick secret — again. Here's what it means
▼ + stars: | 2024-02-18 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

A new stock pick from the 93-year-old Buffett almost always leads some investors to follow suit, quickly moving the share price. Berkshire has been a longtime shareholder in credit rating agency Moody's , and bought a big stake in Citigroup in early 2022. The last financial stock Berkshire bought was Capital One Financial in the first quarter of 2023. If the new stake ever exceeds 5% of whatever stock it is, Berkshire would be required to report its holding with the SEC. Buffett might be asked to reveal the identity of the mystery stock at Berkshire's annual shareholder meeting in early May.

Persons: Warren Buffett, Berkshire Hathaway, Buffett, Todd Combs, Ted Weschler, Berkshire's, Goldman Sachs, David Kass, University of Maryland's Robert H, Jamie Dimon, Kass, there's Organizations: Berkshire, The Securities, Exchange, Chevron, Verizon, Apple, Buffett, Bank of America, American Express, Citigroup, Mastercard, Visa, JPMorgan, U.S . Bancorp, Bank of New York Mellon, University of Maryland's, Smith School of Business, outperforming Bank, SEC Locations: Omaha, Berkshire, McLean, Va, Wells, outperforming

☆ OceanFirst CEO on regional banking and commercial real estate risks
▼ + stars: | 2024-02-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOceanFirst CEO on regional banking and commercial real estate risksChristopher Maher, OceanFirst Financial CEO, Chairman, and President, discusses the impact of inflation and higher rates on the regional banking sector.

Persons: Christopher Maher Organizations: OceanFirst

☆ Ole Andreas Halvorsen's Viking Global bought this regional bank in the fourth quarter
▼ + stars: | 2024-02-15 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Despite broad concerns surrounding the health of regional banks, Ole Andreas Halvorsen's Viking Global bought into one key name in the sector in the fourth quarter. The move came near the end of a turbulent year for regional banks after the shuttering of Silicon Valley Bank , First Republic Bank and Signature Bank led investors to question the regionals' business model. Shares of U.S. Bancorp climbed more than 30% in the fourth quarter, but the stovck still ended the year down about 1%. The sector took a hit this year following New York Bancorp 's dismal fourth quarter earnings , which showed a loss, a large reserve against weaker future credits and slashed the dividend. Halvorsen went even further and zeroed out stakes in Microsoft and Arm Holdings , the British chip and software designer that went public last September.

Persons: Ole Andreas Halvorsen's, Halvorsen, Julian Robertson, InsiderScore, Lamb Weston Organizations: Ole Andreas Halvorsen's Viking Global, Viking Global, . Bancorp, Silicon Valley Bank, First Republic Bank, Signature Bank, U.S . Bancorp, Regional Banking, New York Bancorp, Viking, Tiger Management, Devices, Microsoft, Arm Holdings, Mastercard, Electric, Colgate, Palmolive Locations: Ole Andreas Halvorsen's Viking, Minneapolis, Silicon, U.S, Deere

☆ Why some investors don’t mind waiting longer for rate cuts
▼ + stars: | 2024-02-15 | by ( Krystal Hur | ) edition.cnn.com time to read: +8 min

Stocks and bonds both sold off as investors painfully recalibrated their expectations for five to six interest rate cuts this year to align more with the Fed’s projected three cuts. For example, Yardeni Research has pushed back against the idea that immediate rate cuts are necessary to avoid the Fed overshooting on slowing the economy. Stocks wouldn’t crater even if cuts were off the table completely in 2024, according to Bank of America, despite what Tuesday’s losses suggest. “No cuts could stymie a full-fledged recovery in more credit-sensitive areas,” wrote BofA strategists in a note on February 9. That means regional lenders will no longer have that crutch if they run into trouble after the program’s expiration on March 11.

Persons: Jerome Powell, ”, Ed Yardeni, it’s, Marc Dizard, Allison Morrow, Bitcoin, bitcoin, Antoni Trenchev, ” Read, Alicia Wallace, Read Organizations: CNN Business, Bell, New York CNN, Wall, Federal Reserve, Traders, Fed, Federal Deposit Insurance Corporation, US Treasury, Valley Bank, Signature Bank, Yardeni Research, Bank of America, PNC Asset Management Group, Federal Reserve Bank of New, New York Fed, Liberty Street Economics, , New York Fed Locations: New York, pare, Federal Reserve Bank of New York, , New

☆ Higher rates raising ‘downside risks’ for regional banks, warns Bank of America
▼ + stars: | 2024-02-14 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

The danger of higher rates for longer following the latest hot inflation reading raises the "downside risk" for regional banks, according to Bank of America. "Fewer and later Fed rate cuts pose downside risk to bank stocks," analyst Ebrahim Poonawala wrote in a Tuesday note. "We are especially concerned about the failure of the broader market to project the trajectory of interest rates – a consistent theme since the Fed began raising interest rates in March 2022." "We worry about the risk from no rate cuts in 2024 and a far more elevated level of interest rates across the UST yield curve," Poonawala added. Net interest margin is the difference between the interest banks earn on loans and pay on deposits.

Persons: Ebrahim Poonawala, Poonawala, Goldman Sachs, BNY Mellon, — CNBC's Michael Bloom Organizations: Bank of America, Federal, Treasury, Silicon Valley Bank, Fed, UST, Regional Banking, Regional Banking ETF, JPMorgan, BNY, U.S . Bancorp, First Bancorp Locations: Silicon, U.S, Puerto Rico

☆ Why do people keep uninsured money in banks?
▼ + stars: | 2024-02-12 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Somehow, the same issue plaguing last year’s failed banks is back in focus at the latest bank in crisis: massive loads of uninsured deposits. To be sure, the risk isn’t anywhere close to that of the banks that failed last year: About 94% of domestic deposits at Silicon Valley Bank were uninsured and 90% of Signature Bank’s deposits were uninsured, according to the Federal Reserve. The money is guaranteed by the Federal Deposit Insurance Corporation, which is funded by fees paid by major US banks. About 40% of all money in the US, or $8 trillion, sitting in banks is uninsured, said Lawrence White, a professor at New York University’s Stern School of Business. “It also risks violating the FDIC’s statutory requirement to resolve failed banks and protect insured depositors in the least expensive way possible.”Sometimes, he said, rescuing those uninsured depositors may be the cheapest way to protect insured depositors at banks.

Persons: NYCB, Brian Snyder, James Lee, David Wessel, Lawrence White, University’s, Banks, Ting Shen, ”, Kori Suzuki, JPMorgan Chase, Michael Ohlrogge, Maxine Waters, Elizabeth Warren, “ Organizations: New, New York CNN, New York Community Bancorp, Investors, Silicon Valley Bank, Federal Reserve, Bank, Xinhua, Federal Deposit Insurance Corporation, FDIC, Reuters, Brookings Institution, International Monetary Fund, University’s Stern School of Business, US Treasury, Bloomberg, Getty, Securities and Exchange Commission, Valley Bank, Signature Bank, JPMorgan, Bank of America, Citigroup, First Republic Bank, New York University’s School of Law, Financial Services, Banking Committee, CBS, Bank Coalition of America Locations: New York, Silicon, United States, New, ”, Washington , DC, San Francisco , California, Sen

☆ US office buildings are facing a 30% price drop as remote work continues to upend the sector, Morgan Stanley says
▼ + stars: | 2024-02-12 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

US commercial real estate is headed for a $2 trillion wall of maturing debt in the next few years. America's office market is in flux and prices have further to fall amid "secular" challenges facing the sector, Morgan Stanley analysts said in a note. Commercial real estate pain has been a source of anxiety for the US banking sector, and regional banks in particular. Thus, the challenges facing CRE in general and office loans in particular are intricately linked to the regional banking sector." Real estate pros have been sounding the alarm on commercial real estate since early 2023 when the sector was in the spotlight following a spate of regional bank failures.

Persons: Morgan Stanley, That's Organizations: Real Capital, National Association of Realtors, Mortgage, Association, New York Community Bank

☆ Gauging the risk of contagion from NYCB and commercial real estate woes
▼ + stars: | 2024-02-09 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +7 min

The latest concern threatening regional banks started on Jan. 31, when New York Community Bancorp. reported unexpected fourth quarter loss and a large loan loss reserve against futures losses, due in part to the bank's commercial real estate (CRE) exposure. One worry is that the NYCB credit downgrade could spur ratings agencies to take a closer look at other banks, or cause clients to again pull deposits out of regional banks. Determining exactly how unique NYCB's exposure to commercial real estate is will be a key focus for investors and analysts in coming weeks. A note on Wednesday from Wolfe Research analysts focused on banks and commercial real estate showed that regional banks have in general reduced their commercial real estate exposure over the past 15 years.

Persons: NYCB, Ian Lyngen, hasn't, Lyngen, D.A, Davidson, Peter Winter, Winter, Macrae Sykes, Banks, They're, Sykes, Wells Fargo, Jerome Powell, Bond, Tom Fitzpatrick, RJ O'Brien, Fitzpatrick, — CNBC's Michael Bloom Organizations: Investors, New York Community Bancorp, Moody's, Street, Silicon Valley Bank, BMO, Treasury, Wolfe Research, UBS, Gabelli, CNBC Locations: Silicon, Wells

☆ Bitcoin rises above $45,000, its highest level in almost a month
▼ + stars: | 2024-02-08 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

The price of bitcoin rose above $45,000 for the first time since Jan. 11, when trading of U.S. spot bitcoin ETFs began. Bitcoin was last higher by nearly 3% at $45,391.18, according to Coin Metrics, pulling crypto-related stocks higher, although ether hovered at the flat line. The flagship cryptocurrency's move came as shares of New York Community Bancorp extended losses Thursday. Worries about U.S. regional banks have worked in bitcoin's favor since last year's regional banking crisis, when investors who lost confidence in the banks turned to the cryptocurrency as a hedge against uncertainty. Traders also point our that bitcoin accumulation by large investors, known as "whales," has increased in the past two weeks, when the cryptocurrency's price has been stuck below December and January highs.

Persons: Bitcoin Organizations: New York Community Bancorp Locations: U.S

☆ The biggest winners and losers from the new sports streaming service
▼ + stars: | 2024-02-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. ESPN, Warner Bros., and Fox announced plans this week for a new sports streaming service set to launch this fall . That could put an end to cable TV as we know it , Nathan McAlone, Business Insider's deputy media editor, writes. Ashley Rodriguez, BI's media editor, has a breakdown of the six biggest questions about this new sports streamer . Games on YouTubeTV, for example, are noticeably delayed compared to cable TV broadcasts .

Persons: —, Katie Notopoulos, David Jensen, Nathan McAlone, it's, Ashley Rodriguez, Peter Kafka, BI's, Peter, Nathan, Ashley —, We've, Ashley, Fox, Rick Wilking, Reuters Leon Cooperman, Marc Rubinstein, Yi Huiman, Xi Jinping, Jordan Hart, It's, Justin Metz, Blackstone, Bob Iger, Donald Trump, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, ESPN, Warner Bros, Fox, ESPN2, ABC, FOX, Peter : Media, Nathan, Warner Bros ., NFL, Cable, Comcast, Paramount, Reuters, Signature Bank, New York Community Bancorp, Securities, Commission, that's, Apple Vision, Microsoft, BI, of Foreign Labor, Apollo, KKR, Bain Capital, Disney, Epic Games, ConocoPhillips, US Locations: New, China, Beijing, New York, London

☆ Premarket stocks: Magnificent Six? Fab Five? Some say the Seven are getting a shakeup
▼ + stars: | 2024-02-08 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Is Wall Street’s favorite clique of tech stocks in need of a makeover? Most of the Magnificent Seven stocks have reclaimed their leadership of the market this year, with shares of Nvidia, Meta Platforms, Alphabet and Microsoft reaching record highs. Many investors are skeptical that the Magnificent Seven will match their blockbuster gains from 2023, even if they continue their leadership this year. Jim Worden, chief investment officer at the Wealth Consulting Group, says he believes the group should consolidate to the “Fab Five,” which he classifies as the Magnificent Seven minus Tesla and Apple. “There is a big leadership change underway in the Magnificent Seven stocks,” wrote Louis Navellier, chairman of Navellier & Associates, in a note on Tuesday.

Persons: Jim Worden, ”, Worden, Michael Hartnett, Jim Cramer, Louis Navellier, “, Nancy Tengler, It’s, Walt, Gina Lee, Samantha Delouya, Disney, Ron DeSantis, Diksha Madhok, ” TSMC, Joe Biden, ” Read Organizations: CNN Business, Bell, New York CNN, Nvidia, Meta, Microsoft, Apple, Wealth Consulting, Bank of America, Facebook, Netflix, Google, Federal Reserve, Micro Computer, Navellier, Associates, EV, Disney, Walt Disney World, Disney Vacation, Taiwan Semiconductor Manufacturing Company, Semiconductor Manufacturing, TSMC, US Locations: New York, China, American, Orlando , Florida, —, Florida, Japan Chip, Japan, Arizona

☆ Big insurance companies want more private credit. Here's how Blackstone is using AI to win them over.
▼ + stars: | 2024-02-08 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Insurance companies represent a big opportunity for private equity firms, who invest with the accumulated premiums paid by millions of everyday Americans. It's not just insurance clients that benefit from AI to bring more transparency to the cloudy private credit market. With private credit, insurance firms can invest in a more diversified set of assets with greater yield (and, albeit risk) than public credit markets, like vanilla corporate bonds. And because insurance companies often have long-term horizons with their financial obligations to policyholders, they can invest in less-liquid asset classes, like private credit. But to win more insurance clients, Blackstone must compete with the likes of Apollo Global Management, Carlyle, and KKR, which have also been keen on insurance.

Persons: Blackstone, John Stecher, it's, Stecher, Gilles Dellaert, Carlyle, that's, Jon Gray, Gray Organizations: Blackstone, —, Business, Insurance, Blackstone Insurance, Apollo Global Management, KKR Locations: BXCI

☆ Gold steady as Fed remarks counter safe-haven demand
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: +2 min

Gold prices steadied on Thursday as a pushback from U.S. Federal Reserve officials on market hopes for early interest rate cuts offset safe-haven demand after Israel rejected a ceasefire offer from Hamas amid continuous talks to end the Gaza conflict. Gold prices steadied on Thursday as a pushback from U.S. Federal Reserve officials on market hopes for early interest rate cuts offset safe-haven demand after Israel rejected a ceasefire offer from Hamas amid continuous talks to end the Gaza conflict. Spot gold held its ground at $2,033.56 per ounce, as of 0427 GMT. Fed officials want to hold off on cutting interest rates until they have more confidence that inflation is headed down to 2%. Gold, considered a safe-haven investment, tends to gain during times of political and economical uncertainty.

Persons: Tim Waterer, Moody's, Waterer Organizations: U.S . Federal, Israel, KCM, U.S, Community Bancorp Locations: U.S, Gaza, New, Germany, China

☆ NYCB's stock crash shows the peril of a bank growing too fast
▼ + stars: | 2024-02-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The implosion of New York Community Bancorp highlights an unusual risk for banks: growing too fast. New York Community Bancorp's 64% stock crash was in part caused by the increased regulatory scrutiny it received after crossing $100 billion in assets. But it can be a completely different story in the banking sector, and New York Community Bancorp is the latest example. Since then, New York Community Bancorp stock has crashed 64% and reignited fears of another regional banking crisis. "The case underpins a core principle of banking that may seem counterintuitive beyond: In banking, growth is … not good," Rubinstein said.

Persons: Marc Rubinstein, SVBFG, Thomas Cangemi, Rubinstein Organizations: York Community Bancorp, New, New York Community, New York Community Bancorp, Signature Bank, Valley Bank, Foreign Banking Organization, Bank, York Community, Bloomberg, Wall Locations: New York, New, America

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