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☆ Stocks making the biggest moves midday: Tesla, Western Alliance, Target & more
▼ + stars: | 2023-05-17 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Musk said that although he expects an economic downturn for the next 12 months, Tesla is well-positioned for the long run. Western Alliance — Western Alliance popped 15% after the regional bank said deposit growth so far this quarter surpassed $2 billion as of May 12. Target — Shares of the big-box retailer rose more than 2% after the company topped Wall Street's earnings expectations for its fiscal first quarter. It also topped expectations for first-quarter comparable sales, per StreetAccount, but its revenue missed estimates. Keysight Technologies — Shares popped more than 7% after Keysight Technologies topped earnings expectations for the fiscal second quarter.

☆ Stock futures are little changed as traders hope for a debt ceiling deal: Live updates
▼ + stars: | 2023-05-17 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

U.S. stock futures were flat on Wednesday night as Wall Street hoped that the debt ceiling crisis would soon see a resolution. Futures linked to the S&P 500 and Nasdaq 100 futures declined by 0.05% and 0.02%, respectively. Investors' sentiment seemed to rise after Washington leaders indicated that they are moving forward on debt ceiling talks. Meanwhile, Wells Fargo's head of equity strategy Chris Harvey was skeptical that progress has been made in Washington on the debt ceiling talks. We think people are getting too excited about the debt ceiling in the short term.

☆ Here's what analysts are saying after Western Alliance's latest update
▼ + stars: | 2023-05-17 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Analysts on Wall Street are optimistic on Western Alliance after the bank's latest deposit update. Shares of Western Alliance popped more than 9% in the premarket. The analyst has a $71 per share price target on Western Alliance, which represents about 125% upside from Tuesday's closing price of $31.59. WAL YTD mountain Western Alliance stock has broken out in recent days, gaining 15% in the last five trading sessions. His price target points to more than 100% upside over the next 12 months.

☆ Western Alliance soars 12% to lead rally in regional bank stocks after the lender says deposits increased by more than $2 billion
▼ + stars: | 2023-05-17 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

Western Alliance shares surged Wednesday after telling investors that deposits continue to stabilize. Deposit growth exceeded $2 billion on a quarter-to-date basis as of May 12, the lender said. Regional bank stocks followed Western Alliance's lead higher. Western Alliance shares zoomed up 12% to $35.45, the highest since May 2 when they traded above $36 each. Western Alliance shares have suffered a loss of more than 40% during 2023.

The S&P Regional Banking Index fell approximately 25% during the quarter as a run on deposits sank Silicon Valley Bank and Signature Bank in March, both of which were at the time the largest banking failures since the Great Financial Crisis. The S&P Regional Banking index is now down 36% for the year to date. Famed "Big Short" investor Michael Burry's Scion Asset Management, meanwhile, added a number of new positions in regional banks, including stakes in First Republic, PacWest (PACW.O) and Western Alliance Bancorp (WAL.N). Shares of regional banks have remained volatile in recent weeks, with some investors wary of more tumult to come in the sector. London-based Marshall Wace sold 51,300 shares of First Republic in the first quarter, closing its position in the bank.

☆ David Einhorn's Greenlight Capital bets on pair of regional banking stocks
▼ + stars: | 2023-05-15 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

David Einhorn joined other big investors in shares in several regional bank stocks last quarter in a bet that the financial institutions would survive the industry crisis that felled Silicon Valley and First Republic banks. That's the bank whose subsidiary, Flagstar, acquired Signature Bank assets after that bank was shuttered. Einhorn's additions come amid a broad selloff of regional bank stocks on concern more institutions could fail as depositors withdrew assets and the value of banks' bond holdings narrowed. "Big Short" investor Michael Burry also bought regional bank stocks last quarter. Outside of the bank stocks, Einhorn notably increased exposure to Concentrix , Gulfport Energy and Tenet Healthcare .

☆ Stocks week ahead: SVB and Signature Bank execs are set to testify next week
▼ + stars: | 2023-05-14 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

The US Senate Committee on Banking, Housing and Urban Affairs is holding three hearings this coming week centered around the collapses of Silicon Valley Bank and Signature Bank in March. ET : Greg Becker, former chief executive, Silicon Valley Bank; Scott Shay, former chairman and co-founder, Signature Bank and Eric Howell, former president, Signature Bank. ET : Mark Bialek, inspector general, Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau; Paul Kupiec, senior fellow, American Enterprise Institute and more. Since then, the Federal Reserve and Federal Deposit Insurance Corporation have released reports detailing management missteps at SVB and Signature Bank, as well as federal regulators’ own mistakes in properly addressing red flags preceding the banks’ demises. A separate report from the Federal Reserve Bank of New York on Friday shows that American households are becoming increasingly frugal.

☆ Investors may be crowding too much into defensive stocks amid market jitters
▼ + stars: | 2023-05-13 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

The S & P 500 posted its second straight weekly decline, falling 0.3% this week. Given this backdrop, investors have turned to several consumer staples — traditionally seen as defensive stocks — to shore up their portfolios. Mondelez , PepsiCo and Molson Coors — all staples — are the most overbought S & P 500 names through Friday's session. Shares of Mondelez have rallied more than 16% year to date, easily outperforming the S & P 500's 7.4% advance. Estee Lauder is the most oversold S & P 500 stock.

☆ CNBC Daily Open: Bracing for April’s consumer price index
▼ + stars: | 2023-05-10 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Markets had a quiet Tuesday as investors braced for key inflation reports coming out later today and Thursday. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. April's jobs report showed the labor market's still going strong, which might contribute to price pressures. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: Bracing for April’s CPI reading
▼ + stars: | 2023-05-10 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Investors are hoping April's CPI reading will show dipping prices. April's jobs report showed the labor market's still going strong, which might contribute to price pressures. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: A deceptive calmness
▼ + stars: | 2023-05-09 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Indeed, the SPDR S&P Regional Banking ETF (KRE) fell by 2%. April's consumer price index report, expected Wednesday, and the producer price index on Thursday will either reinforce or dispel some of those fears. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: In the eye of the storm
▼ + stars: | 2023-05-09 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Indeed, the SPDR S&P Regional Banking ETF (KRE) fell by 2%. We might just be in the eye of a storm. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ Wall Street analysts like these regional bank stocks if you can withstand the chaos in the market
▼ + stars: | 2023-05-09 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The continued slide for regional bank stocks after the failure of First Republic last week has created some buying opportunities in the sector, according to Wall Street analysts. "We believe this recent stock reaction is overdone as there is currently no evidence of accelerating deposit outflows. We see accelerating deposit costs, not accelerating deposit outflows, as the most significant headwind for the midcap banks over the next several quarters," Gosalia wrote. Huntington and Webster also rise to the top of the heap for RBC Capital Markets analyst Jon Arfstrom. Both Huntington and Webster are down about 30% for the year, which is better than the SPDR S & P Regional Banking ETF (KRE).

☆ A rare buying signal was triggered in bank stocks that's typically led to monster returns
▼ + stars: | 2023-05-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Bank stocks could be due for a rally, if history repeats itself. The SPDR S & P Regional Banking ETF (KRE) , which is focused on regional banks, climbed 6.3% on Friday. Meanwhile, the Financial Select Sector SPDR Fund (XLF) , a fund that tracks financial stocks more broadly, advanced 2.5%. The KRE was down more than 1% on Monday as regional bank stocks were once again under pressure. Notably, closely watched PacWest was able to avoid the regional bank downturn, adding 10% on Monday after surging almost 82% Friday.

☆ Why the regional bank crisis could help fuel a shift to active ETFs
▼ + stars: | 2023-05-08 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The Vanguard Small-Cap Index ETF (VB) is down 10% over the past three months, and the SPDR S & P Regional Banking ETF (KRE) has plunged 40%. VB 3M mountain Passive small-cap funds like VB have been hurt by the regional banking crisis. "Of the 130+ passively managed small-cap ETFs, the average Financials sector exposure is 16%. Small-cap funds is one category where active funds should have plenty of room to grow, Sohn said. Research shows that very few active managers can consistently beat index funds, and the index funds are almost always cheaper for investors by expense ratio.

☆ CNBC Daily Open: Investors liked April's jobs growth
▼ + stars: | 2023-05-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Broader markets were boosted by April's jobs report, which showed a higher-than-expected increase in jobs growth and an unemployment rate of 3.4% — a record low since 1969. Recall January's jobs report: There were 517,000 new jobs in December, almost three times the forecast. A strong jobs market increases the probability that the U.S. economy can tame inflation without contracting too severely. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: Investors like jobs growth
▼ + stars: | 2023-05-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

☆ Regional banks rebound for a second day as PacWest cuts dividend, says business 'fundamentally sound'
▼ + stars: | 2023-05-08 | by ( Yun Li | ) www.cnbc.com time to read: 1 min

PacWest Bankcorp led a relief rally in regional banks again on Monday, after the struggling lender slashed dividend to build capital amid the banking crisis. PacWest CEO Paul Taylor reassured investors that the bank's businesses remains "fundamentally sound." Other regional banks also rebounded for a second day. The SPDR S&P Regional Banking ETF (KRE) rose by 2.8% in premarket, following a 6.3% rally Friday. Western Alliance jumped 8% in premarket Monday after gaining 49% in the previous session, and Zions Bancorp rose 4% Monday.

☆ CNBC Daily Open: Fear, not fundamentals
▼ + stars: | 2023-05-05 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Regional bank stocks continued tumbling Thursday; shares of PacWest and Western Alliance were halted more than once. At one point on Thursday, every stock in the KRE traded lower as investors sold off regional banks. Subscribe here to get this report sent directly to your inbox each morning before markets open.

JPMorgan made a bold call on Friday, upgrading three regional banks despite a renewed rout in the sector this week that the investment bank says is partly due to short sellers. "To this end, we believe a sell-off in regional banks has become a catalyst itself to cause further fear and selling pressure." The SPDR S & P Regional Banking ETF , down 15% through Thursday this week, was up 4% in premarket trading Friday. The banks that JPMorgan upgraded have been hit even harder than the broader sector. The regional bank stocks have fallen despite the fact that the companies reported lower deposit outflows than First Republic.

☆ The stock market could become 'untouchable' if the regional banking crisis continues to spiral, Fundstrat says
▼ + stars: | 2023-05-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The stock market could become "untouchable" if the regional banking crisis continues to spiral out of control. "This raises too many tail risk issues including credit tightening, commercial real estate, and wide economic implications," Lee said. Lee's cause for concern about the banking crisis and the chilling effect it could have on the stock market is based on the type of risks that could percolate if the instability continues. "This raises too many tail risk issues including credit tightening, commercial real estate and wide economic implications," Lee explained. The SPDR S&P Regional Banking ETF surged more than 6% on Friday, suggesting that the regional banking crisis could ultimately be contained without spilling over into a bigger problem for the stock market.

☆ Why the inflows? A 'two-sided equation' for bank ETFs
▼ + stars: | 2023-05-05 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +2 min

"It's a two-sided equation here," Reggie Browne, principal of GTS, told Bob Pisani on CNBC's 'ETF Edge' on Monday. "If you look at the entire suite of regional bank ETFs, they're picking up assets." While regional bank ETFs continue to tumble, the funds still netted more than $105 million in inflows within the past month, according to FactSet. Flows were largely into the SPDR S&P Regional Banking ETF (KRE) , which pulled in $108 million during the same period. The dividend yield on the KRE stands at 3.84%, while the SPDR S&P Bank ETF (KBE) offers 3.59%.

☆ Regional bank stocks could be a market afterthought in the week ahead
▼ + stars: | 2023-05-05 | by ( Scott Schnipper | ) www.cnbc.com time to read: +7 min

For the immediate economic and earnings and growth outlook, it almost seems irrelevant whether regional bank stocks rally, steady or sell off more next week. Regional banks were top of mind for investors this past week, as First Republic failed , the SPDR S & P Regional Banking ETF tumbled more than 10% — twice the five-day loss in the S & P 500 Energy Index, the hardest hit S & P sector — and lenders such as PacWest Bancorp and Western Alliance Bancorp lost billions in market value. And, for all that, the S & P 500 only fell about 0.75% this week. Now the conventional wisdom on Wall Street is that regardless of how the regional bank stocks trade, it's a given that bank lending officers are going to pull in their horns and risk management desks will grow more risk averse. But stocks still face a host of issues, none of which are going away next week.

The full moon, otherwise known as a strawberry supermoon, is seen over the Skyline of the CBD in Sydney, Australia June 15, 2022. Asia-Pacific markets fell as banking fears were reignited on Wall Street, sending the three major U.S. indexes into a four day losing streak. Regional bank shares sold off, with the SPDR S&P Regional Bank ETF (KRE) dropping more than 5% and some banks seeing volatile trading. Futures for Hong Kong's Hang Seng index stood at 19,904, pointing to a lower open compared to its last close of 19,948.73. China's Caixin services purchasing managers index for April will be published later today, a day after the Caixin manufacturing PMI fell into contraction territory.

☆ CNBC Daily Open: Trading on fear, not fundamentals
▼ + stars: | 2023-05-05 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Regional bank stocks continued tumbling Thursday; shares of PacWest and Western Alliance were halted more than once. At one point on Thursday, every stock in the KRE traded lower as investors sold off regional banks. Subscribe here to get this report sent directly to your inbox each morning before markets open.

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