DIRS.INFO The most relevant business & tech news

☆ Cramer says a much-needed Fed pause could ignite a stock market rally like we haven't seen in decades
▼ + stars: | 2023-03-28 | by ( ) www.cnbc.com time to read: +7 min

Fed rate hikes: They were so quick that they left any bank that bought too many longer-duration bonds, in an attempt to pick up a little more yield, heavily underwater. The Powell Fed sees the current problems. The fact is, though, we need a strong banking system and without one, you can forget about getting credit without paying too high a price for it. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ 'Dr. Doom' economist Nouriel Roubini says the crypto industry is a 'total criminal enterprise' riddled with market manipulation
▼ + stars: | 2023-03-28 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Nouriel Roubini said crypto markets are chock full of criminal activity and manipulation. The famed economist described the industry as a "criminal enterprise" in a Tuesday tweet. The famed economist said in a tweet on Tuesday the trillion-dollar industry is chock full of "constant market manipulation" and a "total criminal enterprise." Earlier this month, he celebrated the downfall of banks that cozied up to the crypto industry. After Silicon Valley Bank, Signature Bank, and Silvergate failed, Roubini ratcheted up fiery commentary with a simple message: "Good riddance."

Some banks are rolling out the welcome mat for cryptocurrency firms that found themselves in need of banking services after the downfall of two big crypto-friendly lenders, Signature Bank and Silvergate Capital Corp.As crypto companies have scrambled to establish new bank relationships, industry executives say they have received a positive reception from regional banks such as Customers Bancorp ., based in West Reading, Pa., and Fifth Third Bancorp , based in Cincinnati.

☆ A credit crunch could worsen the bank turmoil and commercial real estate could be next domino to fall
▼ + stars: | 2023-03-27 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Odds are, commercial real estate is the next shoe to drop for the banking sector after this month's unrest. "Commercial real estate [is] widely seen as next shoe to drop as lending standards for CRE loans to tighten further," BofA's Michael Hartnett said. Regional banks have enormous exposure to commercial real estate loans. But this time around, it is commercial rather than residential real estate that may be in trouble. Are you worried about the impact of commercial real estate on the banking sector and the economy?

☆ First Citizens just bought Silicon Valley Bank – here's everything you need to know about the latest twist in the banking turmoil
▼ + stars: | 2023-03-27 | by ( George Glover | ) www.businessinsider.com time to read: +6 min

First Citizens Bank agreed to buy most of Silicon Valley Bank on Sunday. The Raleigh, NC-based bank has taken over 17 branches of SVB, $119 billion of its deposits and $72 billion worth of loans. Here's everything you need to know about the latest twist in the US's regional banking turmoil. First Citizens Bank has agreed to buy SVB, according to a statement released on Sunday by the Federal Deposit Insurance Corporation. It'll also receive benefits tied to First Citizens' share price, which it estimated could be worth around $500 million.

☆ 'Sell into rallies': Morgan Stanley names the stocks to navigate current European banking jitters
▼ + stars: | 2023-03-27 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

In the wake of recent market volatility and steep share price falls, Morgan Stanley cautioned that the European banking sector is "not as attractive as it was." Morgan Stanley strategists cautioned that although the banking sector is now cheaper, news flow surrounding earnings upgrades and cash return expectations may fade or reverse. On a top-down basis, Morgan Stanley recommended the following overweight-rated (a buy equivalent rating) stocks to navigate this environment with a defensive exposure. Stocks in traditionally defensive sectors, such as health care and utilities, are being recommended by Morgan Stanley. However, Morgan Stanley said the banking sector's problems have shifted this perspective, as the outperformance of European banks has been closely tied to the broader European market.

☆ The IMF's boss has called for vigilance as risks to financial stability rise after bank turmoil
▼ + stars: | 2023-03-27 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +3 min

IMF chief Kristalina Georgieva has warned of another tough year ahead for the world economy, amid increased risks to financial stability. "Uncertainty is high which underscores the need for vigilance," Georgieva said. "Uncertainty is high which underscores the need for vigilance," Georgieva said. "Policymakers have acted decisively in response to financial stability risks, and advanced economy central banks have enhanced the provision of U.S. dollar liquidity. These actions have eased market stress to some extent, but uncertainty is high which underscores the need for vigilance."

☆ First Citizens Bank jumps 50% after deal to acquire assets of collapsed Silicon Valley Bank
▼ + stars: | 2023-03-27 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

First Citizens Bank stock jumped as much 50% in Monday's trading session. The surge follows news that First Citizens will acquire a large chunk of failed SVB's assets. The Federal Deposit Insurance Corporation (FDIC) said the Raleigh, North Carolina-based bank will acquire $72 billion worth of SVB assets at a $16.5 billion discount. SVB collapsed on March 10 after a bank run, sending shockwaves through global financial markets and steep sell-off in bank stocks on contagion concerns. "Financial conditions are likely to tighten, increasing the risk of an economic hard landing even if central banks ease off on interest rate hikes," Haefele said in a recent note.

☆ Michael Saylor's MicroStrategy snaps up another 6,455 bitcoin as token rallies, bringing its total holdings to $3.88 billion
▼ + stars: | 2023-03-27 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

MicroStrategy bought 6,455 bitcoins for about $150 million in the last five weeks, an SEC filing showed. MicroStrategy also paid off the remaining principal on a $205 million loan from the failed Silvergate Bank. All together, those holdings are worth about $3.88 billion, at the current bitcoin price of about $27,900. The total MicroStrategy paid was $161 million. "MicroStrategy repaid its $205M Silvergate loan at a 22% discount," Saylor tweeted on Monday.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin falls below $27,000, and CFTC charges Binance for violating trading rules: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Samir Tabar, the new CEO of Bit Digital, discusses his outlook for the industry following the collapse of crypto-friendly banks Signature and Silvergate.

☆ Bank runs have the crypto industry on high alert. 3 experts explain why the latest batch is especially worrisome — and what comes next.
▼ + stars: | 2023-03-26 | by ( Laila Maidan | ) www.businessinsider.com time to read: +10 min

Only a decade ago, bank runs happened at a much slower pace. The era of digital bank runsOne thing the past few weeks has made clear is that bank runs now unfold differently, especially for smaller banks that service specialized sectors. "Bank runs are evolving into a different and much more dangerous beast because they happen faster," Baker said. By comparison, on March 9, SVB lost $42 billion in a day — and it was a smaller bank, Baker added. Long said she warned regulators again after FTX collapsed that banks servicing the crypto sector face the danger of bank runs.

☆ The banking crisis is doing Fed's work and creating a window for stocks to rally
▼ + stars: | 2023-03-26 | by ( Jim Cramer | ) www.cnbc.com time to read: +19 min

Work from home has in part jacked up food prices, and the increase is about 14% above just last year. The only bank that looks like Silicon Valley Bank is First Republic Bank (FRC) because it, too, has suffered huge deposit withdrawals. Nike (NKE)said China orders were good, so did Club stock Starbucks (SBUX). As counterintuitive as it is, the banking row will give the 4.8% fed funds rate a chance to cool consumer spending. This gives stocks a window to advance until we begin earnings season with what will no doubt be a cautious banking sector.

☆ I Visited Miami After the Stock Market Crash, Crypto Bubble Pop
▼ + stars: | 2023-03-26 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

And if any city is the city where you can see just how remarkably things have shifted, it's also Miami. If the draw in the 1920s was imaginary land, Miami's bubble in the 2020s was driven by imaginary money — crypto. The newcomers — and the crypto kids, especially — believed they could master Miami as easily as they had mastered the markets. The new Miami money party started to run out of libations. "There were a lot of true believers in the Miami crypto scene.

☆ 4 banks have collapsed in less than a month. Here's what Jerome Powell, Nouriel Roubini, Elon Musk and others are saying about the turmoil.
▼ + stars: | 2023-03-25 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

In less than a month, Silvergate, Silicon Valley Bank, Signature Bank, and Credit Suisse have collapsed. Jerome Powell, Nouriel Roubini, Elon Musk, and others have shared their views on the turmoil. Experts have pointed to the Federal Reserve's aggressive rate hikes over the past year as a driver for the turmoil. Jerome PowellFollowing the announcement of a 25-basis-point rate hike, the Fed chief said all depositors' savings are safe, adding that US banking system is "strong and resilient." Elon MuskThe billionaire Tesla and Twitter chief sees danger ahead for the US economy if the Fed doesn't contain the crisis among regional banks.

☆ Bitcoin’s market dominance is climbing. Here’s what that says about interest rate expectations
▼ + stars: | 2023-03-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bitcoin's market dominance has been climbing in March and is now up to levels not seen since June. Investors use it to determine which parts of the crypto market are outperforming or underperforming relative to their peers. When bitcoin dominance climbs, it implies that bitcoin is doing well, but more specifically, it means its outperforming altcoins. Bitcoin dominance has risen steadily since March 8, the day after Silvergate Bank announced its voluntary liquidation. "That's reflecting a view that a lot of macro investors have, that we're either at or very near the bottom of this macro cycle."

☆ Starwood Capital’s Barry Sternlicht sees the economy having a hard landing due to Fed rate hikes
▼ + stars: | 2023-03-23 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Starwood Capital CEO Barry Sternlicht said the U.S. is headed into a recession because the Federal Reserve has been hiking interest rates too aggressively. "The economy will have a hard landing," Sternlicht said on CNBC's " Squawk Box " Thursday. The Fed and other regulators took emergency actions to safeguard depositors at the failed banks, but concerns still linger about a run on deposits at some regional banks. Sternlicht said he and his colleagues looked at six regional banks over the weekend and studied their mark-to-market losses on assets. "They didn't even stress test these banks if rates rose, so they should have been the first ones to see what they were doing to the regional banks," Sternlicht said.

☆ Former Treasury Secretary Larry Summers says more rate hikes may be needed to kill inflation despite a banking crisis
▼ + stars: | 2023-03-23 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Former Treasury Secretary Larry Summers suggested more interest-rate hikes may be needed to cool inflation. "I probably would have allowed more room for concern about inflation and left the door a bit more open to multiple rate hikes," he said. The Fed made a decision Wednesday to hike interest rates by 25 basis points amid an ongoing banking crisis in the US. "I probably would have allowed more room for concern about inflation and left the door a bit more open to multiple rate hikes, given the strength of the recent inflation data" Summers told CNN on Wednesday. Nevertheless, Summers voiced support for the Federal Reserve's latest interest-rate decision.

☆ Bitcoin at $100,000? Insiders say the cryptocurrency could test new highs this year
▼ + stars: | 2023-03-23 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

In this article BTC.BS=-USSBTC.CB=BTC.CM= Follow your favorite stocks CREATE FREE ACCOUNTCryptocurrency industry insiders predict bitcoin could hit a new all-time high in 2023 and possibly reach $100,000. Bitcoin previously hit its all-time high of $68,990.90 in November 2021. related investing news How crypto prices may react to the latest Fed decision Marshall Beard, chief strategy officer at U.S.-headquartered cryptocurrency exchange Gemini, said $100,000 could be a possibility for bitcoin. "I think bitcoin probably breaks all-time highs this year," Beard said, adding that the $100,000 price figure is an "interesting number." Paolo Ardoino, chief technology officer at stablecoin issuer Tether, said bitcoin could "retest" its all-time high near $69,000.

☆ European lawmakers are quietly miffed at U.S. regulators over SVB's collapse
▼ + stars: | 2023-03-23 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Chair of the ECB Supervisory Board Andrea Enria and Chairperson of the European Banking Authority (EBA) Jose Manuel Campa in the European Parliament on March 21, 2023. And in Switzerland, a non-member of the European Union, authorities had to rescue Credit Suisse by asking UBS to step in with an acquisition. Meanwhile, regulators and officials across the European Union have been nervous about potential contagion to their own banking sector. After all, it's not been that long since European banks were in the depths of the global financial crisis. Like him, an array of officials have made an effort to stress that the European banking system is in much better share compared to 2008.

☆ 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.

☆ 'Inundated with requests': Digital currency firms look to Swiss banks after crypto-friendly lenders fail
▼ + stars: | 2023-03-22 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Crypto firms are scrambling to find institutions to bank with after the collapse of Signature Bank and Silvergate Capital , two lenders that were friendly to digital currency companies. Some of these companies have turned to crypto-friendly Swiss banks, flooding them with requests for banking services, according to multiple industry insiders who spoke to CNBC. This has included blockchain and crypto firms, who have instead had to turn to specialist banks. "We have been inundated with requests," said an advisor at a private Swiss bank, who preferred to remain anonymous due to the sensitive nature of the matter. The advisor said on the Monday after Silvergate and Signature Bank's winddown this month, the private lender had more requests in a single day than ever before.

☆ Insiders in the banking sector scoop up shares during spreading crisis
▼ + stars: | 2023-03-22 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Insiders in the banking sector snapped up shares of their own companies in what could be a show of faith as the unfolding crisis sent stocks sharply lower. The collapse of Silicon Valley Bank, Signature Bank and Silvergate Capital prompted regulators to provide emergency rescue actions that calmed immediate funding concerns. Stephens Bank said about 40% of banks in its coverage have disclosed insider purchases since March 6. A total of 11 insiders at Valley National Bancorp bought shares in the past two weeks, including purchases by its CEO and several directors. PacWest shares have rebounded 9% this week, but are still down 63% this month.

☆ Buy these 18 financial stocks that top Wall Street analysts expect will outperform the market by up to 70% despite the banking crisis, according to a company that ranks them
▼ + stars: | 2023-03-22 | by ( Laila Maidan | ) www.businessinsider.com time to read: +2 min

A global banking crisis has investors on edge as they rethink their exposure to the sector. TipRanks' list of top financial stocks is compiled based on eight leading market factors. Below is a list of 18 stocks compiled by TipRanks, a financial technology company that uses artificial intelligence to collect and analyze data for stock-market research. These stocks still have upside based on Wednesday's trading prices relative to price targets set by top analysts, or those with four to five-star TipRanks ratings based on their accuracy. The highest stock's upside is at over 71%.

☆ A retro red, blue, and white Credit Suisse ski cap is attracting ferocious bids online — and prices are now up to $200
▼ + stars: | 2023-03-21 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Credit Suisse merch is popping up in online marketplaces following the 167-year-old lender's merger with UBS. Branded gold bars and bags are some of the other Credit Suisse merch available on the platforms. One listing of the Credit Suisse cap started at 80 francs on March 19. Bidding on other Credit Suisse merch — such as this tote bag and a coin bank — also attracted four and five bids, respectively. And while Credit Suisse merch may be attracting buyers, the same cannot be said for the shares of the 167-year-old lender.

☆ Traders, buying the dip in Schwab, are finding value in the beaten-up financial sector
▼ + stars: | 2023-03-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Some traders are using the recent pullback in financial stocks to scoop up shares of what they call quality names at bargain prices. That includes Charles Schwab , down 23% this month, as turmoil rocks the broader financial sector, especially hitting regional banks. She views the slump in Schwab shares, up 7% Tuesday but still trading at 14 times earnings, as an opportunity to add to her list of quality financial stocks. Traders like Cerity Partners' Jim Lebenthal recommend playing the banking sector through regionals, or the SPDR S & P Regional Banking ETF . KRE 1M mountain Regional bank ETF slumps 25% in March After a short time in First Republic , Lebenthal said he sold the San Francisco-based regional bank given stepped-up bearish sentiment, taking a 10% loss.

Search resuls for: "Silvergate"

25 mentions found