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Major equity indexes have been largely stable during the early stages of a first-quarter earnings season that investors expect to show tepid results. The defensive utilities group (.SPLRCU) gained most among S&P 500 sectors, rising 0.7%. S&P 500 companies overall are expected to post a 4.8% decline in first-quarter earnings from the year-earlier period, according to Refinitiv IBES. Shares of Western Alliance Bancorp (WAL.N) surged 23% after the company posted stronger-than-expected earnings, helping lift the SPDR S&P Regional Banking ETF (KRE.P) 4%. The S&P 500 posted 15 new 52-week highs and one new low; the Nasdaq Composite recorded 48 new highs and 111 new lows.

The two-year Treasury yield , most reflective of short-term rate expectations, hit a one-month high and the 10-year yield hit a four-week high as traders scaled back expectations of rate cuts later this year. Earnings from regional banks were mixed, with Citizens Financial Group Inc (CFG.N) falling 3.4% after its first-quarter results missed estimates. Western Alliance Bancorp (WAL.N) rallied 17.3% after the regional bank posted stronger-than-expected earnings and said its deposits had stabilized after the March banking crisis. Declining issues outnumbered advancers by a 3.70-to-1 ratio on the NYSE and a 2.40-to-1 ratio on the Nasdaq. The S&P index recorded 10 new 52-week highs and one new low, while the Nasdaq recorded 17 new highs and 57 new lows.

Netflix Inc (NFLX.O) fell 2.5% after the video-streaming pioneer beat analysts' earnings estimates for the first quarter but offered a downbeat forecast. The two-year Treasury yield , most reflective of short-term rate expectations, hit a one-month high of 4.29% and the 10-year yield hit a four-week high as traders scaled back expectations of rate cuts later this year. Chicago Fed President Austan Goolsbee and New York President John Williams are set to speak later in the day. Earnings from regional banks were mixed, with Citizens Financial Group Inc (CFG.N) falling 2.4% after its first-quarter results missed estimates. Western Alliance Bancorp (WAL.N) rallied 20.4% after the regional bank posted stronger-than-expected earnings and said its deposits had stabilized after the March banking crisis.

☆ Futures retreat as Treasury yields rise, Tesla slides
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +3 min

Netflix Inc (NFLX.O) slipped 1.6% after the video-streaming pioneer beat Wall Street earnings estimates for the first quarter but offered a downbeat forecast. ET (1800 GMT), and investors will scrutinize it for impact on the recent banking crisis on economic activity. ET, Dow e-minis were down 165 points, or 0.48%, S&P 500 e-minis were down 25.5 points, or 0.61%, and Nasdaq 100 e-minis were down 120.75 points, or 0.92%. Western Alliance Bancorp (WAL.N) rallied 15.5% after the regional bank posted stronger-than-expected earnings and said its deposits had stabilized after the March banking crisis. Shares of banks First Republic Bank (FRC.N), Zions Bancorporation (ZION.O) and Pacwest Bancorp (PACW.O) rose between 1.1% and 4.1% in premarket trade.

☆ Western Alliance soars 20% after it says deposits stabilized a month after bank turmoil rocked markets
▼ + stars: | 2023-04-19 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Western Alliance stock surged as much as 20% on Wednesday. The regional lender indicated that its deposit levels have stabilized since last month's banking turmoil. "While we experienced elevated net deposit outflows immediately following the closure of other banks, deposit balances quickly stabilized," Western Alliance CEO Kenneth Vecchione said in a statement. Panic rippled through financial markets throughout the month, sending shares of regional banks plunging before the sector stabilized after interventions from government authorities and larger banks. Western Alliance shares are still down 33% year-to-date after the latest rally.

☆ Here are Wednesday's biggest analyst calls: Netflix, Apple, Tesla, Amazon, Bowlero, Exxon & more
▼ + stars: | 2023-04-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

UBS upgrades Exxon to buy from neutral UBS said in its upgrade of the oil and gas giant that it likes the company's balance sheet. Bank of America reiterates Meta as buy Bank of America says it likes "self-help stocks in an uncertain macro." Bank of America reiterates Nvidia as buy Bank of America raised its price target on the AI beneficiary to $340 per share from $310. Bank of America downgrades CDW to neutral from buy Bank of America downgraded the technology products company after its disappointing earnings report on Tuesday. Wolfe reiterates Amazon as outperform Wolfe says it's standing by its outperform rating on the stock heading into earnings next week. "

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☆ Western Alliance deposits stabilize, profits beat, shares rise after hours
▼ + stars: | 2023-04-18 | by ( ) www.reuters.com time to read: +2 min

April 18 (Reuters) - Western Alliance Bancorp (WAL.N) on Tuesday posted profits that surpassed estimates and said its deposits stabilized after the March banking crisis, news that sent its shares soaring 15% in after-hours trading and also lifted shares of other U.S. regional banks. The company said some 73% of its deposits were insured and immediately available liquidity exceeds uninsured deposits, it said. Its proportion of insured deposits was well above industry norms among the 50 largest U.S. banks. Western Alliance and other regional lenders came under pressure recently, with consumers moving money into bigger banks after the failure of two U.S. lenders triggered worries about a broader crisis and funding costs. Last month, Western Alliance affirmed its full-year deposit growth forecast of 13% to 17%.

☆ Western Alliance beats quarterly estimates on gains from interest income
▼ + stars: | 2023-04-18 | by ( ) www.reuters.com time to read: +2 min

April 18 (Reuters) - Western Alliance Bancorp (WAL.N) beat Wall Street estimates for the first quarter on Tuesday, as the lender reaped gains from interest income on the back of a slate of rate hikes by the U.S. Federal Reserve. While higher cost of borrowing roiled several asset classes and curtailed dealmaking, it helped lenders charge higher interest from borrowers. Still, the lender reported a 5% decline in net interest income from the previous quarter due to an increase in average balances of short-term borrowings and interest bearing deposits. Regional lenders such as Western Alliance came under pressure after the closure of two smaller lenders triggered worries about deposit flight and funding costs. Shares of Western Alliance shot up 16% in extended trading to $37.97 after it closed 0.9% lower on Tuesday.

☆ Stocks making the biggest moves after hours: Netflix, United Airlines, Western Alliance, Interactive Brokers and more
▼ + stars: | 2023-04-18 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Netflix posted a beat on per-share earnings, but fell short of Wall Street's estimates for revenue, according to Refinitiv. The company reported adjusted earnings per share of $1.35, below a consensus estimate of $1.41, according to Refinitiv. The bank holding company posted adjusted earnings of 45 cents per share against a consensus estimate of 47 cents per share, according to FactSet. The company reported adjusted earnings per share of $1.23 against a consensus estimate of $1.20 per share, according to FactSet. United Airlines — The airline gained 1.3% on forward guidance in the company's latest earnings report that forecasts a second-quarter profit.

☆ Morning Bid: Global pulse picks up, rates creep higher again
▼ + stars: | 2023-04-18 | by ( ) www.reuters.com time to read: +5 min

A look at the day ahead in U.S. and global markets from Mike DolanWith investors largely assuming recession ahead, an accelerating global economic pulse challenges the narrative and is seeing interest rates tick back higher again as the March banking wobble subsides. With March starts and permits numbers out later, there was also signs of a troughing in the U.S. housing market. Confidence among U.S. single-family homebuilders improved for a fourth straight month in April as a dearth of previously owned homes and falling mortgage rates boosted demand. Wall St futures were higher again on Tuesday, with European bourses and most Asia indices advancing too. With euro zone and UK rate expectations pushing higher too, the dollar slipped back again against the euro and sterling .

☆ Three investors on how to protect your portfolio
▼ + stars: | 2023-04-16 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

New York CNN —Wall Street has been hit with a barrage of complex signals about the economy’s health over the past month. From banking turmoil to weakening jobs data to slowing inflation, and now the start of earnings season, investors have remained largely resilient. So, how should investors protect their portfolios? Investors say there isn’t one asset that Wall Street should pile all their bets on, but there are fundamentals that should underlie their investment strategies. Doug Fincher, portfolio manager at Ionic Capital Management, says investors should brace their portfolios against inflation.

☆ Hedge funds bought financial stocks amid banking turmoil, says S&P
▼ + stars: | 2023-04-13 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

NEW YORK, April 13 (Reuters) - Hedge funds increased their exposure to stocks in the financial sector amid the banking turmoil in March, as they saw a buying opportunity at lower prices, S&P Global Market Intelligence said in a note on Thursday. Hedge funds raised their exposure to financials more than any other sector, according to S&P, which tracks assets listed in the U.S.. Hedge funds added $13.5 billion in stocks in all sectors in March. Hedge funds' positioning in the banking sector came in a month when U.S. banks Silicon Valley Bank and Signature Bank failed, followed by Credit Suisse's rescue. Overall, the financials sector has not recovered from the losses.

"One has to step back and look at a bigger picture than just these week-to-week market battles over data. ET, Dow e-minis were down 122 points, or 0.36%, S&P 500 e-minis were down 21.5 points, or 0.52%, and Nasdaq 100 e-minis were down 107.75 points, or 0.82%. Shares of regional banks slipped after Fed data on Friday showed overall credit from U.S. banks declined by a record of more than $120 billion in the latest week, on a nonseasonally adjusted basis. Semiconductor stocks such as Micron Technology Inc (MU.O) and Western Digital Corp (WDC.O) gained 5.5% and 4.7%, respectively, following Samsung Electronics Co Ltd's (005930.KS) plans to cut chip production. Reporting by Sruthi Shankar and Ankika Biswas in Bengaluru; Additional reporting by Medha Singh; Editing by Varun H K and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Futures muted after jobs data raises odds of more rate hikes
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +3 min

U.S. employers maintained a strong pace of hiring in March, data released on Friday showed, pushing the unemployment rate down to 3.5% and raising odds of the Fed hiking rates one more time next month. While nonfarm payrolls increased by 236,000 jobs last month, slightly weaker than economists' expectations, investors focused on the overall data which signaled labor market resilience. "We see a disconnect between markets presuming much easier Fed policy on "softer" data and how the Fed will actually see the data," Citi economists said in a note. Citi expects three 25 basis point rate hikes at the coming Fed meetings with a policy rate reaching 5.50-5.75%. ET, Dow e-minis were up 12 points, or 0.04%, S&P 500 e-minis remained unchanged, and Nasdaq 100 e-minis were down 31.75 points, or 0.24%.

☆ Market veteran says we may be 'a long way from a new bull market' and shares what to buy and avoid
▼ + stars: | 2023-04-06 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

That puts the index in a technical bull market — widely defined as a gain of at least 20% from a 52-week low. That outperformance is getting investors excited and is prompting talk that a new bull market is in the cards. But market veteran David Dietze said he believes the stock market is getting ahead of itself. "Others have trouble calling a market movement a new bull market until the market at least attains its prior all-time high point. How he's positioning For starters, he said, investors should remain invested in the stock market, despite the appeal of higher-yielding money market funds and short-dated Treasurys.

April 5 (Reuters) - Western Alliance Bancorporation (WAL.N) said on Wednesday its first-quarter deposits were 11% lower than at the end of 2022, as customers spooked by the sudden collapse of two U.S. mid-sized lenders pulled out funds. Western Alliance said total deposits were $47.6 billion as of March 31, down from $53.6 billion at the end of 2022. Total insured deposits represented roughly 68% of its total deposits, significantly higher than the proportion at year-end. The collapses triggered the biggest banking crisis since 2008 and stoked heavy volatility in the sector, worsening existing jitters of an imminent recession. Analysts at RBC Capital Markets wrote in a note that while Western Alliance has reported a large decrease in deposits it believes that "this is ultimately an acceptable and manageable outcome for the company."

☆ Stocks making the biggest moves midday: Nvidia, Palantir, Western Alliance, Johnson & Johnson and more
▼ + stars: | 2023-04-05 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

The Western Alliance Bancorporation logo is seen in this photo illustration on 13 March, 2023 in Warsaw, Poland. This development would give U.S. government customers and industry partners access to enterprise-grade capabilities by Palantir and Microsoft. Western Alliance also said it has enough liquidity to cover the remaining uninsured deposits. Johnson & Johnson — Shares rose about 3%. Conagra Brands — The packaged goods food company rose 3% after topping Wall Street's expectations on the top and bottom lines for the recent quarter, according to FactSet.

☆ Western Alliance shares cut losses after the bank says deposit outflows are stabilizing
▼ + stars: | 2023-04-05 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Shares of Western Alliance Bancorp cut steep losses Thursday after the regional bank gave a new update showing deposit outflows stabilizing amid the banking crisis. Western Alliance had suffered an exodus of deposits in the aftermath of the collapses of Silicon Valley Bank and Signature Bank last month. Western Alliance said it experienced a total of $6 billion net deposit outflows in the first quarter. The bank also said its total insured deposits now stood at 68% of total deposits, significantly higher than year-end, which represented 50% of total deposits. The bank stock is down more than 50% this year, off 66% from its record high.

☆ Wells Fargo's top short-term trade ideas for the second quarter
▼ + stars: | 2023-04-05 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

As the second quarter kicks off, Wells Fargo's equity research team has some favorite long plays. As investors look to keep the winning spirit alive in the new quarter, Wells Fargo's equity research team compiled a list of best long plays. But Wells Fargo said the company could absorb incremental market share following Silicon Valley Bank's closure given its position in the technology sector and sophisticated management. Spotify will likely introduce a price increase within the U.S. in the second or third quarter, Wells Fargo said. Paramount struggles from industry-wide challenges such as the decline of linear, while also struggling to scale its direct-to-consumer offerings to reach profitability, Wells Fargo said.

☆ Futures fall as investors await key economic data amid recession fears
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +3 min

ET, Dow e-minis were down 46 points, or 0.14%, S&P 500 e-minis were down 8.75 points, or 0.21%, and Nasdaq 100 e-minis were down 30.5 points, or 0.23%. Weak job openings data and falling factory orders on Tuesday followed soft manufacturing activity data on Monday, sparking fresh concerns about economic outlook and pushing the S&P 500 (.SPX) to snap a four-day winning streak in the prior session. Escalating oil prices following the OPEC+ group's output cuts have also worsened the outlook for inflation, adding to investors' anxiety. Both the benchmark S&P 500 and tech-heavy Nasdaq (.IXIC) are on track to notch weekly declines in four in the holiday-shortened week. Reporting by Ankika Biswas in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Larger peers Bank of America (BAC.N), Goldman Sachs (GS.N) and JPMorgan Chase & Co (JPM.N) rose between 0.7% and 1%. "Markets are calmer as the tension of the banking situation is lessening. The CBOE volatility index (.VIX), known as Wall Street's fear gauge, fell to its lowest since March 9, reflecting easing investor anxiety. ET, Dow e-minis were up 216 points, or 0.66%, S&P 500 e-minis were up 32.5 points, or 0.81%, and Nasdaq 100 e-minis were up 114.25 points, or 0.9%. Reporting by Amruta Khandekar; Editing by Dhanya Ann Thoppil and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Larger peers Bank of America (BAC.N), Goldman Sachs (GS.N) and JPMorgan Chase & Co (JPM.N) rose between 0.7% and 1.6% in premarket trade. "Markets are calmer as the tension of the banking situation is lessening. A key inflation reading expected at the end of the week will provide more clues on the Fed's monetary tightening plans. ET, Dow e-minis were up 244 points, or 0.75%, S&P 500 e-minis were up 35.25 points, or 0.88%, and Nasdaq 100 e-minis were up 109.25 points, or 0.86%. Reporting by Amruta Khandekar; Editing by Dhanya Ann Thoppil and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Futures edge higher as SVB deal soothes bank fears
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures up: Dow 0.31%, S&P 0.34%, Nasdaq 0.17%March 27 (Reuters) - U.S. stock index futures edged higher on Monday after a buyout deal for failed Silicon Valley Bank's deposits and loans helped soothe some jitters around severe stress in the banking sector. First Citizens BancShares Inc (FCNCA.O) said on Monday it will acquire parts of Silicon Valley Bank (SIVB.O), the collapse of which earlier this month marked the largest bank failure since the 2008 financial crisis, unleashing fears about a liquidity crunch in the sector. Other regional banks Western Alliance Bancorp (WAL.N) and PacWest Bancorp (PACW.O) also climbed 5.4% and 9.2%, respectively. Shares of major U.S. banks JPMorgan Chase & Co (JPM.N), Citigroup (C.N) and Bank of America (BAC.N) advanced between 0.8% and 1.4%. While the Silicon Valley Bank deal has helped instill some confidence in the banking sector's stability, concerns about a bigger crisis have not abated completely, analysts said.

Shares of major U.S. banks JPMorgan Chase & Co (JPM.N), Wells Fargo (WFC.N) and Bank of America (BAC.N) dropped more than 2% in premarket trade. Shares of regional lenders First Republic Bank (FRC.N), PacWest Bancorp (PACW.O), Western Alliance Bancorp (WAL.N) and Truist Financial Corp (TFC.N) fell between 2.1% and 2.8%. European banks also came under pressure, with a report of a U.S. probe on Credit Suisse and UBS (UBS.N) further souring the mood. ET, Dow e-minis were down 304 points, or 0.94%, S&P 500 e-minis were down 31.5 points, or 0.79%, and Nasdaq 100 e-minis were down 59 points, or 0.46%. Reporting by Amruta Khandekar and Ankika Biswas; Editing by Sriraj Kalluvila and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

The fresh price falls in Europe came as investors were looking to see how far U.S. authorities would go to shore up the banking sector, particularly fragile regional lenders. REUTERS/Dado Ruvic/Illustration/File Photo 1 2CDS surge on banking sector turmoilUBS CHALLENGESThe global banking sector has been shaking since the sudden collapse this month of SVB and Signature Bank. But the worries spread quickly, and on Sunday UBS (UBSG.S) was rushed into taking over Swiss rival Credit Suisse after it lost the confidence of investors. Separate sources told Reuters that UBS has promised retention packages to Credit Suisse wealth management staff in Asia to stem a talent exodus. Standard Chartered (STAN.L) Chief Executive Bill Winters said on Friday the wipeout of Credit Suisse bondholders had "profound" implications for global bank regulations.

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