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☆ Sens. Booker, Warnock press big bank CEOs to pause overdraft fees after SVB failure
▼ + stars: | 2023-03-22 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

Cory Booker and Raphael Warnock have urged the CEOs of 10 major banks to waive overdraft and nonsufficient fund fees that could cost some Americans more than $100 a day in the wake of the failures of Silicon Valley Bank and Signature Bank. The letters went to the CEOs of Wells Fargo , U.S. Bank , Truist Financial Corp ., TD Bank , Regions Financial Corp ., PNC Bank , JPMorgan Chase , Huntington National Bank , Citizens Bank and Bank of America . Regulators shuttered New York-based Signature Bank days later in an effort to stall a potential banking crisis. Booker and Warnock said banking customers whose paydays fell between March 10 and March 13 were unable to receive or deposit checks from payroll providers banking with SVB and Signature Bank. Treasury Secretary Janet Yellen on Tuesday said the department is prepared to guarantee all deposits for financial institutions beyond SVB and Signature Bank if the crisis worsens.

☆ Jim Cramer's top 10 things to watch in the stock market Wednesday: Fed, banking crisis, GameStop
▼ + stars: | 2023-03-22 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

I think the industrial uses, the medical uses, the auto uses, the educational uses and the call center uses are front and center here. Multiple price target boosts for this Club stock. Increases price target to $154 per share from $100. Truist analysts increase price target to $20 per share from $15. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Wall Street is confident high-yielding banks won't cut their dividends
▼ + stars: | 2023-03-22 | by ( Scott Schnipper | ) www.cnbc.com time to read: +5 min

Atlanta's Truist Financial ($41 billion) now yields 6.2% while Minneapolis's U.S. Bancorp ($53 billion) pays 5.1% on its common stock. After all, high dividend yields are often a sign of financial or business distress, or a red flag that the payments so many mom-and-pop investors depend on are unsustainable. Wall Street just doesn't think most payouts will be cut — so long as any recession this year stays on the mild side. "Despite these lower dividend growth expectations, we believe these bank holdings still have attractive dividends," Peris added. A final straw in the wind: Wall Street has issued dozens of research reports since Silicon Valley Bank went under.

☆ We've been a source of strength for local communities, says Huntington Bancshares CEO
▼ + stars: | 2023-03-21 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe've been a source of strength for local communities, says Huntington Bancshares CEOMad Money host Jim Cramer talks to Huntington Bancshares CEO Stephen Steinour about the banks financial position and why investors should keep their money there.

☆ Kathy Hochul’s Plan to Force NYC Suburbs to Approve More Housing Sparks Battle
▼ + stars: | 2023-03-20 | by ( Jimmy Vielkind | Photographs Jeenah Moon For The Wall Street Journal | ) www.wsj.com time to read: 1 min

HUNTINGTON, N.Y.—Backhoes are finally clearing the earth for the development of Matinecock Court, an affordable-housing complex in this Long Island suburb that was first proposed 45 years ago. To housing advocates, a multifamily project first floated when Jimmy Carter was president is the ultimate example of unreasonably restrictive suburban zoning and the reason for a push by Democratic Gov. Kathy Hochul to change the rules. To Long Island officials, who have long been concerned about traffic and school crowding, Matinecock Court was a challenge to the inviolate need for local control over land-use decisions.

He now faces renewed criticism over his agenda at the Fed, where he oversaw efforts to reduce regulations on regional banks. U.S. regional banks are expected to pay higher rates to depositors to keep them from switching to larger lenders, leaving them with higher funding costs. In 2008, regulators had to contend with billions of dollars in toxic mortgages and complex derivatives sitting on bank books. Currently, regional banks below $250 billion in assets have simpler capital, liquidity and stress testing requirements. "SVB is not a very complicated bank," said Dan Awrey, a Cornell Law professor and bank regulation expert.

☆ Wall Street closes higher as First Republic helps lift banks
▼ + stars: | 2023-03-16 | by ( David Carnevali | ) www.reuters.com time to read: +3 min

SummarySummary Companies European Central Bank raises key policy rateFirst Republic Bank shares reverse course and turn higherMeta, Snap climb as U.S. threatens TikTok banNEW YORK, March 16 (Reuters) - A strong rebound by financials helped Wall Street's main indexes close firmly positive on Thursday, after some of the country's largest lenders came to the rescue of embattled First Republic Bank. "Banks are looking out for one another," said Huntington Private Bank chief investment officer, John Augustine. Shares of JP Morgan and Morgan Stanley were up 1.94% and 1.89% respectively, while the lifeline buoyed First Republic Bank (FRC.N), which gained 9.98%. The KBW regional banking index (.KRX) gained 3.26%, while the S&P 500 banking index (.SPXBK) advanced 2.16%, as both sub-indexes reversed losses. Concerns about banks have rattled the stock market in recent days after the collapse of SVB Financial fueled contagion fears.

☆ Four regional bank stocks for the brave to buy, according to UBS
▼ + stars: | 2023-03-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

The selloff in regional banks is overdone, with four names looking especially attractive at these levels, according to UBS. While bank stocks moved higher on Thursday, volatility has risen this week. Regional banks were particularly hard hit. Investors also need to remember that not all regional banks are equivalent, she added. "Thus, we believe that investors should not look at unrealized securities losses in a static manner," Najarian wrote.

☆ Shares of US regional banks attempt recovery after SVB-fueled rout
▼ + stars: | 2023-03-14 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

March 14 (Reuters) - Shares of U.S. regional banks rose on Tuesday after suffering double-digit losses over the past few days following the biggest bank collapse since the 2008 global financial crisis. The collapse of Silicon Valley Bank (SIVB.O) and Signature Bank (SBNY.O) sent shockwaves through global markets, despite assurances from U.S. President Joe Biden and other policymakers that banks and deposits were safe. First Republic Bank (FRC.N) rose 57% before trading was halted for volatility, a day after hitting an intraday record low of $17.53. The S&P 1500 regional banks sub-industry index (.SPCOMBNKS) advanced 7.7% after shedding 20% in the past three sessions. Big banks rose with JPMorgan up 1.6%, Wells Fargo (WFC.N) 6.6% and Bank of America (BAC.N) 4.2%.

☆ First Republic leads losses among U.S. regional banks on contagion fears
▼ + stars: | 2023-03-13 | by ( Medha Singh | ) www.reuters.com time to read: +4 min

[1/2] A person walks past the Park Avenue location of the First Republic Bank, in New York City, U.S., March 10, 2023. REUTERS/David 'Dee' DelgadoMarch 13 (Reuters) - Shares of U.S. regional banks slumped on Monday, led by losses in First Republic Bank (FRC.N) as news of fresh financing failed to assuage bank contagion fears following the collapse of SVB Financial Group (SIVB.O) and Signature Bank (SBNY.O). The KBW regional banking index (.KRX) slipped 5.4%, and the S&P 500 banking index (.SPXBK) fell 6%. U.S. President Joe Biden vowed to do whatever was needed to address a potential banking crisis after the collapse of Silicon Valley Bank and Signature Bank. Among Wall Street lenders, Bank of America Corp (BAC.N) dropped 3.3%, Citigroup Inc (C.N) and Wells Fargo (WFC.N) slid about 6% each, while lenders in Asia and Europe plunged too.

☆ US banks have well over $1 trillion of uninsured deposits. Signature Bank was among the most exposed.
▼ + stars: | 2023-03-13 | by ( Alistair Barr | ) www.businessinsider.com time to read: +4 min

The US government shut down Signature Bank on Sunday. This time it was Signature Bank. The FDIC insures US bank deposits up to $250,000 per account to prevent bank runs and failures. The demise of SVB, and now the collapse of Signature Bank, have stretched this system to a breaking point. The authorities are giving the same special exemption to Signature Bank, so all depositors will be made whole there too.

[1/2] A person walks past the Park Avenue location of the First Republic Bank, in New York City, U.S., March 10, 2023. There were multiple trading halts on bank shares as the KBW regional banking index (.KRX) fell 5.4%, and the S&P 500 banking index (.SPXBK) dropped 6%. Hogan said each regional bank has its own exposure to different parts of the market. He added the fate of regional bank stocks will be "case by case" as investors look to see which ones could have the most negative exposure. "First Republic Bank, which has significant exposure to the coastal real estate markets appears to be next on the list".

☆ These elite dividend payers have yields that can compete with bonds
▼ + stars: | 2023-03-06 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Bonds have become more attractive as Treasury yields approach their highest levels in a decade — but certain top dividend-paying stocks also provide competitive payoffs to investors. Take a look at some of the stocks that can compete with bond yields, and where analysts expect them going forward. Eggs producer and distributor Cal-Maine Foods has the highest dividend yield of 9.5% on the list. Kraft Heinz offers investors a dividend yield of 4.1%, and the company has a debt-to-equity ratio of 42.7%. Several energy names also made it on the elite dividends list, such as CONSOL Energy , Coterra Energy , Kinder Morgan and Devon Energy.

☆ I make up to $9,500 a month renting out my home while my family lives in a trailer in the driveway. Here's how I set up my Airbnb and VRBO business.
▼ + stars: | 2023-03-03 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +9 min

Alexi McKinley rents out her home and lives in a trailer in her driveway for a few weeks every month. Her family makes up to $9,500 a month from vacation-rental platforms like Airbnb and VRBO. Now we spend around two weeks every month living in our trailer so we can rent out our house on Airbnb and VRBO. We just pack what we want depending on how long the Airbnb guests are staying. The living space in the trailer.

☆ A California man set a new world record after making 2,995 visits to Disneyland, going every single day for more than 8 years
▼ + stars: | 2023-02-26 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +2 min

Jeff Reitz, 50, made 2,995 consecutive visits to Disneyland between 2012 and 2020. He began his daily trips while he was unemployed to distract himself from job-hunting, per LA Times. Jeff Reitz, 50, from Huntington Beach, California made 2,995 consecutive visits to Disneyland in Anaheim between 2012 and 2020. His achievement was finally enshrined as a world record last week after Guinness World Records created a new category to honor Reitz's Disneyland devotion. That left him just five days shy of his initial goal of 3,000 consecutive visits, per the LA Times.

[1/3] Drone footage shows the freight train derailment in East Palestine, Ohio, U.S., February 6, 2023 in this screengrab obtained from a handout video released by the NTSB. NTSBGov/Handout via REUTERSFeb 14 (Reuters) - Cleanup is moving quickly after a train carrying toxic materials derailed in Ohio 11 days ago, Ohio Governor Mike DeWine said on Tuesday, while residents and observers questioned the health impacts of pollution that spilled into the Ohio River. Officials said the volume of the river diluted the plume and the plume did not pose a serious threat. UNION WARNINGSRailroad union officials said they have been warning that such an accident could happen because railroad cost-cutting harmed safety measures. "No one wants to listen until we have a town blown off the face of the earth, then people listen," said Whitaker, whose union is the largest U.S. railroad union representing conductors, engineers and other workers.

"Because the consumer is now under more pressure, and Walmart is under pressure, that sets up a dynamic where there's probably not a lot of pricing going forward." The clout Walmart holds over suppliers also means that Walmart would likely get the lowest percentage of any price hikes manufacturers implement, according to investors who track the company. In 2018, Walmart pulled Campbell Soup Co's (CPB.N) products during the key winter season over a dispute over prices and shelf space promotion. At the time, Tesco labeled Heinz's price hikes as "unjustifiable." After raising prices four times in 2022, he said, Clorox doesn't "have any additional plans" to hike prices this year.

☆ Morning Bid: Corporate scatter
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +5 min

A look at the day ahead in U.S. and global markets from Mike Dolan. A hail of mega corporate updates distracted stock markets from a confusing macro picture - but offers little more clarity with scattergun fortunes and ambiguous readouts for the wider economy. The flub fed worries that the Google parent is losing ground to rival Microsoft (MSFT.O) in the renewed craze around artificial intelligence. European shares touched a fresh nine-month high on Thursday as Germany's Siemens and UK's AstraZeneca boosted earnings euphoria, while Britain's bank, commodity and pharma heavy FTSE100 hit another record high. Norway's $1.35 trillion sovereign wealth fund said it had recently divested virtually all its remaining shares in the Adani group.

☆ A flurry of earnings reports, Fed rate hike, signs of a bull market
▼ + stars: | 2023-02-04 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Earnings season continues next week, with Club holdings Linde (LIN), Emerson Electric (EMR) and Walt Disney (DIS) all set to report. Similarly, shares of Meta Platforms (META) have surged over 20% since CEO Mark Zuckerberg reassured investors Wednesday evening that 2023 would be the technology giant's "year of efficiency." The bull case is further supported by continued signs inflation is easing, a still-robust job market and the breadth of market-buying activity since the start of the year. Lastly on Wednesday, the Fed's Federal Open Market Committee raised the federal funds rate by 25 basis points, in line with expectations. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Goldman sees debt limit fight possibly hitting stocks this summer
▼ + stars: | 2023-01-30 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

The U.S. government hit its debt limit earlier this month, starting a countdown to when the Treasury Department will run out of resources . Goldman chief economist Jan Hatzius said in his "Weekly Kickstart" note that the looming debt ceiling fight this summer could have a significant impact on stocks. "Our economists expect the deadline to raise the debt limit will arrive between June and October. Market reactions to past debt limit episodes have been mixed. Hatzius' Goldman colleague Alec Phillips said in a follow-up note that, "we continue to believe the risk that Congress fails to raise the debt limit by the deadline is higher than at any point since 2011."

☆ Why desalination won't save states dependent on Colorado River water
▼ + stars: | 2023-01-27 | by ( Emma Newburger | ) www.cnbc.com time to read: +8 min

The Colorado River wraps around Horseshoe Bend in the in Glen Canyon National Recreation Area in Page, Arizona. "Ocean water desalination has tremendous allure," said Robert Glennon, a professor emeritus of law and water policy scholar at the University of Arizona. Pipes containing drinking water are shown at the Poseidon Water desalination plant in Carlsbad, California, U.S., June 22, 2021. The cost of water is highSince desalination is a drought-resistant process, some have argued that states with such facilities could make themselves less dependent on water from the Colorado River. That's significantly more than the amount the San Diego County Water Authority pays for water sourced from the Colorado River and the Sacramento San Joaquin River Delta.

Bryant objected to North Carolina requirements that patients obtain abortion pills only in person from physicians in specially certified facilities, and undergo as state-mandated counseling at least 72 hours before having abortions. The offices of West Virginia Attorney General Patrick Morrisey and North Carolina Attorney General Josh Stein did not immediately respond to requests for comment. The West Virginia lawsuit was reported earlier by The New York Times, and the North Carolina lawsuit by ABC News. The cases are GenBioPro Inc v Sorsaia et al, U.S. District Court, Southern District of West Virginia, No. 23-00058; and Bryant v Stein et al, U.S. District Court, Middle District of North Carolina, No.

Companies Genbiopro Inc FollowJan 25 (Reuters) - A maker of abortion pills and a doctor have filed lawsuits challenging state restrictions on the medication, in the first lawsuits of their kind since the U.S. Supreme Court overturned the federal constitutional right to abortion. The doctor, Amy Bryant, filed a separate lawsuit in the federal court in Durham, North Carolina, challenging state-imposed restrictions on obtaining mifepristone, which she said impeded her ability to treat patients. Medication abortions make up more than half of U.S. abortions. Misoprostol is the second drug of the two-drug regimen for medication abortion. Twelve states now ban nearly all abortions, including medication abortions.

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☆ Morning bid: Netflix flickers
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +4 min

With the macro picture turning foggy again, streaming giant Netflix (NFLX.O) generated a rare bright spark in an otherwise gloomy corporate earnings season. But it has bounced back more than 60% from the lows of last June and the leadership shakeup may not shape the road ahead. With aggregate S&P500 earnings tracking a year-on-year contraction of about 3% for the fourth quarter, the Netflix news was welcome. In wider markets, a dour Thursday showed some retreat of the early year optimism on peaking central bank interest rates. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

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