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Search resuls for: "Regional Banking"


9 mentions found


☆ SVB debacle sparks rush to defensive options on fears of contagion
  + stars: | 2023-03-10 | by ( Saqib Iqbal Ahmed | ) www.reuters.com   time to read: +3 min
A California regulator shut Silicon Valley Bank on Friday and appointed the Federal Deposit Insurance Corporation as receiver, according to the agency's statement. With many stocks in the sector falling sharply on Friday, traders rushed in to defensive bets. SVB is battling cash burn due to declining deposits from startups struggling with a venture capital funding drought. While investors had largely shrugged off Silvergate’s troubles as strictly crypto-related, "(SVB Financial Group) was a giant wake-up call about the effects of rising rates and an inverted yield curve," Sosnick said. Reporting by Saqib Iqbal Ahmed in New York Editing by Ira Iosebashvili and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.
☆ Morning Bid: Bond blows batter banks as SVB cracks
  + stars: | 2023-03-10 | by ( ) www.reuters.com   time to read: +5 min
SVB may be an unusual case in point - given its exposure to both last year's attrition in the tech sector, related startups and bond markets. Major U.S. banks were also hit, with Wells Fargo (WFC.N) down 6%, JPMorgan (JPM.N) down 5.4%, Bank of America (BAC.N) 6% lower and Citigroup (C.N) 4% lower. In currency markets, the dollar held the line on Friday in its lonely easy monetary policy stance. The BOJ held off making changes to its controversial bond yield cap policy, leaving all options open ahead of a leadership transition in April. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
☆ First Republic leads regional bank rout as Silicon Valley Bank failure raises fears about bond losses
  + stars: | 2023-03-10 | by ( Jesse Pound | ) www.cnbc.com   time to read: 1 min
In this article PACWFRCSIVB Follow your favorite stocks CREATE FREE ACCOUNTTraders on the floor of the NYSE Source: NYSEStock Chart Icon Stock chart icon First Republic's stock fell in volatile trading on Friday. Stock Chart Icon Stock chart icon SPDR S&P Regional Banking ETF, 1-day
☆ Bank stocks plunge after implosions at Silicon Valley Bank and Silvergate Capital send 'shock waves' through the sector
  + stars: | 2023-03-09 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +4 min
Bank stocks plunged on Thursday as investors assessed the potential fallout from the implosions of Silicon Valley Bank and Silvergate Capital. SVB Financial surprised investors with lowered guidance, a $2.3 billion capital raise, and a massive $1.8 billion loss from its bond portfolio. "Part of the problem is Silicon Valley [Bank] had been telling investors up until a couple weeks ago that their guidance was intact. Piling onto the mess in the banking sector on Thursday is the development that crypto-oriented bank Silvergate Capital would wind down its operations. NYSE senior market strategist Michael Reinking shared similar sentiments, telling Insider that the sharp decline at Silicon Valley Bank was "sending shock waves through the financials."
☆ Banks tumble as SVB ignites broader fears about the sector
  + stars: | 2023-03-09 | by ( Sinéad Carew | ) www.reuters.com   time to read: +2 min
The SPDR S&P regional banking ETF (KRE.P) was down 6.0% after hitting its lowest point since January 2021. "The Silicon Valley raise got everybody nervous about people's capital levels and what deposits are doing. "It just gets people freaked out because Silicon Valley, historically has been a very strong, well-run bank. If they're having issues right now, people are wondering what about other banks that are lesser quality and that don't have the reputation that Silicon Valley Bank has." Investors were also grappling with the decline of cryptocurrency-focused lender Silvergate Capital (SI.N), which said earlier this month it was evaluating its ability to operate as a going concern.
☆ Silicon Valley Bank scrambles to reassure clients after 60% stock wipe-out
  + stars: | 2023-03-09 | by ( ) edition.cnn.com   time to read: +5 min
SVB Financial Group scrambled on Thursday to reassure its venture capital clients their money was safe after a capital raise led to its stock collapsing 60% and contributed to wiping out over $80 billion in value from bank shares. SVB, which does business as Silicon Valley Bank, launched a $1.75 billion share sale on Wednesday to shore up its balance sheet. Investors in SVB’s stock fretted over whether the capital raise would be sufficient given the deteriorating fortunes of many technology startups that the bank serves. The company’s stock collapsed to its lowest level since 2016, and after the market closed shares slid another 26% in extended trade. However, the Information publication reported the bank told four clients that transfers could be delayed.
☆ Wall Street’s most overbought stocks include PepsiCo and this little-known insurance company
  + stars: | 2023-02-26 | by ( Fred Imbert | ) www.cnbc.com   time to read: +2 min
The data sparked a broad market sell-off, with the S & P 500 losing 1%. .SPX 5D mountain Tough week for stocks Still, investors should consider easing exposure to names that are still overbought. CNBC Pro screened for S & P 500 stocks in overbought territory, using the relative strength index. CNBC Pro also screened for S & P 500 stocks in oversold territory. To be sure, First Republic shares are down 1.2% year to date, lagging SPDR S & P Regional Banking ETF (KRE) — which is up 5% in 2023.
☆ A veteran chartmaster expects the bear market to continue into 2023 after the latest rally fizzles — but these 4 types of stocks appear to be set up for strong gains next year
  + stars: | 2022-11-19 | by ( James Faris | ) www.businessinsider.com   time to read: +4 min
David Keller, StockCharts.comThe S&P 500 has pulled back from the critical technical resistance level of 4,000, Keller noted. A round number like that is not only seen as a significant milestone for psychological reasons, but it's also a key Fibonacci retracement level, Keller said. The S&P 500 will likely retest the 3,200 level at some point and will be hovering around current levels by the middle of next year, the veteran chartmaster said. It's currently at 24, down from 33.6 when the S&P 500 was at its mid-October lows. The S&P 500 can hit new highs and break the 5,000 mark by late 2023, Keller said, though he doubts a breakthrough will come any earlier than that.
☆ Stifel's stock chief shares 4 places to put your money now as an 'immediate window' for returns opens up while stocks hit a near-term bottom
  + stars: | 2022-09-26 | by ( William Edwards | ) www.businessinsider.com   time to read: +4 min
He said the S&P 500 would climb back to 4,400 by early next year. He said he thinks the S&P 500 will rally back to 4,400, which is about 19% upside from where it closed on Friday. StifelProvided that inflation continues to meaningfully drop, so too will yields on 10-year Treasury Inflation-Protected Securities, or TIPS, Bannister said. When 10-year TIPS yields and 36-month fed funds futures fall, the S&P 500 tend to rise. Longer-term, the S&P 500 is likely to remain range-bound below 4,800 through the rest of the decade, he said.
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