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☆ Morning Bid: Markets brush off OPEC as factories stall
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +5 min

A look at the day ahead in U.S. and global markets from Mike DolanRelatively calm world markets have brushed off OPEC's latest twist and focussed more squarely on stalled global manufacturing and edgy U.S.-China relations. Crude oil prices held much of Monday's pop higher on the surprise weekend production cut by the Organization of Petroleum Exporting Countries. But Brent crude remains below levels seen just before the Silicon Valley Bank bust last month and is still tracking year-on-year declines of 20%. Strikingly, both short and long-term inflation expectations embedded in the Treasury markets , have barely budged since the OPEC news. McCarthy, the third-most-senior U.S. leader after the president and vice president, is due to host a meeting in California on Wednesday with Tsai.

☆ China warns US House Speaker not to meet Taiwan president
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Leah Millis/File PhotoBEIJING, April 4 (Reuters) - China warned U.S. House Speaker Kevin McCarthy on Tuesday not to "repeat disastrous past mistakes" and meet Taiwan President Tsai Ing-wen, saying it would not help regional peace and stability, but only unite the Chinese people behind a common enemy. China, which claims Taiwan as its own territory, staged war games around the island last August after then-Speaker Nancy Pelosi, a Democrat, visited the capital, Taipei. The U.S. says such stopovers are common practice and there is no need for China to overreact. In a statement on Tuesday, Taiwan's foreign ministry said China had no right to complain, as the People's Republic of China has never ruled the island. "Even if the authoritarian government continues with its expansion and intensifies coercion, Taiwan will not back down."

☆ What crisis? U.S. bank-focused ETFs see strongest demand in months in March
▼ + stars: | 2023-03-31 | by ( Lisa Pauline Mattackal | ) www.reuters.com time to read: +2 min

Exchange-traded funds tracking U.S. regional banks saw their strongest net inflows in months, with the SPDR S&P Regional Banking ETF receiving $1.25 billion in the month to March 29, while the iShares U.S. Regional Banks ETF (IAT.P) took in $258 million, according to Refinitiv Lipper data. March was the first month of net buying for the IAT fund in a year, and one of the best months on record in terms of flows for KRE. US Bank ETFs in 2023A swift response from regulators and central banks encouraged investors looking to "buy at the bottom," Islam said. "As markets continue to settle down ... banks generally and major banks especially will outperform the S&P 500."

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☆ Stocks making the biggest moves premarket: Bed Bath & Beyond, Nikola, Virgin Orbit and more
▼ + stars: | 2023-03-31 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Bed Bath & Beyond – Bed Bath & Beyond shares dipped 2% before the bell, building on a more than 26% loss from Thursday's session. Virgin Orbit — Virgin Orbit shed nearly 43% after announcing that it would halt operations "for the foreseeable future" as it fails to secure funding. Virgin Orbit also said it will eliminate about 90% of its workforce. BlackBerry — Shares fell about 2% after the software company posted fourth-quarter revenue that fell slightly short of consensus estimates. Regional bank stocks — Some regional bank stocks that have been volatile in recent weeks rose Friday.

☆ Stocks making the biggest moves midday: Bed Bath & Beyond, Digital World Acquisition, Nikola and more
▼ + stars: | 2023-03-31 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

An exterior view of a Bed Bath & Beyond store on February 7, 2023 in Clifton, New Jersey. Digital World Acquisition — Shares of the SPAC linked to former President Donald Trump advanced 6.3%. Nikola — Nikola shares sank 11% after the electric-truck maker announced plans for a $100 million secondary stock offering priced 20% below Thursday's close. Regional banks — Shares of closely followed regional bank stocks advanced, with the SPDR S&P Regional Banking ETF (KRE) up 0.8%. elf Beauty — The cosmetic company's stock gained 5.2%, reaching a 52-week high.

☆ CNBC Daily Open: Markets rallied because nothing broke yesterday
▼ + stars: | 2023-03-30 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

For markets still reeling from the banking crisis, no news is good news. 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. Or perhaps it was precisely the lack of any significant event that cheered markets. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: Nothing broke yesterday. Markets cheered
▼ + stars: | 2023-03-30 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

☆ CNBC Daily Open: After SVB collapse, stricter rules coming for banks?
▼ + stars: | 2023-03-29 | 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. The rise in yields suggests traders are growing confident the banking turmoil is subsiding, and they're turning their attention back to inflation. In a bizarre way, even if that's bad news for inflation, that's probably good news for everyone who's been consumed by banking fears in recent days. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ Stock futures are little changed as investors come off winning day: Live updates
▼ + stars: | 2023-03-29 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange (NYSE) on February 27, 2023 in New York City. Stock futures were little changed Wednesday night. S&P 500 futures and Nasdaq-100 futures were also near their flatlines. Regional banks, closely followed since Silicon Valley Bank's collapse earlier this month, also finished the session higher, with the SPDR S&P Regional Banking ETF (KRE) adding around 1%. Boston Federal Reserve President Susan Collins, Richmond Fed President Thomas Barkin and Minneapolis Fed President Neel Kashkari are all slated to speak in the afternoon.

☆ CNBC Daily Open: UBS gets a new (old) Group CEO
▼ + stars: | 2023-03-29 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 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. This suggests UBS is prioritizing stability as it proceeds with its merger with Credit Suisse. The rise in yields suggests traders are growing confident the banking turmoil is subsiding, and they're turning their attention back to inflation. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ Buy the dip on this regional bank which, unlike SVB, hedged its interest rate risk, Piper says
▼ + stars: | 2023-03-28 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

At least one beaten-up regional bank was well prepared for the issues that brought down Silicon Valley Bank, and that makes its stock a rebound candidate, according to Piper Sandler. on Tuesday, saying that the Cincinnati-based bank was well hedged for the rapid rise in interest rates that has stressed other regional banks. The hedging actions by Fifth Third are in stark contrast to SVB's portfolio, which had little interest rate hedging despite a large exposure to long duration bonds. In its final annual report , SVB reported a notional amount of $550 million of interest rate swaps as hedging instruments as of Dec. 31, 2022. The fallout from SVB has hit many regional bank stocks, including Fifth Third.

☆ CNBC Daily Open: First Citizens made a good deal
▼ + stars: | 2023-03-28 | 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. More crucially, it signaled to markets that, despite SVB's financial difficulties, there was still value in SVB's reputation and relationship with its clients. The optimism was reflected in the SPDR S&P Regional Banking ETF (KRE), which rose about 0.87%. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: First Citizens struck a great bargain
▼ + stars: | 2023-03-28 | 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. First Citizens' purchase of SVB's assets was a bargain in monetary terms. The optimism was reflected in the SPDR S&P Regional Banking ETF (KRE), which rose about 0.87%. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ Analysis: Investors seek value in clobbered U.S. regional bank shares
▼ + stars: | 2023-03-28 | by ( David Randall | ) www.reuters.com time to read: +4 min

The ETF has slumped nearly 26% since March 8, when SVB's troubles became known, while the S&P Regional Banks Select Industry Index (.SPSIRBK) is down around 23%. Concerns over deposit flight are still swirling around some regional banks. He owns shares of large regional banks including Citizens Financial Group Inc (CFG.N), which have fallen about 22% so far this year, and US Bancorp (USB.N), which are down some 18%. Margie Patel, a senior portfolio manager at Allspring Global Investments, has been adding new positions in regional banks over the last few weeks, citing "value." Regional banks "need positive news that shows their deposits are holding firm or growing," said Rick Meckler, a partner at family office Cherry Lane Investments.

☆ Stock futures are flat on Monday evening: Live updates
▼ + stars: | 2023-03-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures inched higher in overnight trading after the S&P 500 posted its third positive session in a row and banking sector concerns continued to ease. Meanwhile, S&P 500 and Nasdaq 100 futures added 0.11% each. Investors fought to extend last week's gains, but tech shares came under pressure. The Dow Jones Industrial Average added 194.55 points, or 0.6%, while the S&P 500 gained 0.16%. Beaten-up regional banking stocks, including First Republic , climbed along with the SPDR S&P Regional Banking ETF (KRE ).

☆ CNBC Daily Open: Deutsche Bank is not Credit Suisse
▼ + stars: | 2023-03-27 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

A Deutsche Bank AG branch in the financial district of Frankfurt, Germany, on Friday, May 6, 2022. Deutsche Bank is the latest bank to suffer a panic-driven sell-off. Deutsche Bank is not another Credit Suisse in two key aspects. By contrast, Credit Suisse had a fourth-quarter loss of 1.4 billion Swiss francs ($1.51 billion), bringing it to a full-year loss of 7.3 billion Swiss francs. On the other hand, Credit Suisse disclosed it had to use "liquidity buffers" in 2022 as the Swiss bank fell below regulatory requirements of liquidity.

☆ CNBC Daily Open: SVB deposits and loans find a buyer
▼ + stars: | 2023-03-27 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +4 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. By all appearances, First Citizens Bank is a willing buyer of SVB — unlike UBS' forced marriage with Credit Suisse, orchestrated by Swiss regulators. Deutsche Bank is not another Credit Suisse in two key aspects. Deutsche Bank reported a 1.8-billion-euro ($1.98 billion) net profit, giving it an annual net income for 2022 of 5 billion euros. By contrast, Credit Suisse had a fourth-quarter loss of 1.4 billion Swiss francs ($1.51 billion), bringing it to a full-year loss of 7.3 billion Swiss francs.

☆ Stock futures are up as Wall Street looks to build on winning week: Live updates
▼ + stars: | 2023-03-26 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Stock futures edged higher Sunday evening as Wall Street came off a winning week and investors continued to follow the troubling bank sector. The moves come after Wall Street capped off a winning week despite volatility related to the Federal Reserve's latest interest rate hike and the ongoing bank crisis. The news reignited concerns over the health of the European banking system that started with UBS ' acquisition of Credit Suisse earlier this month. "Although markets were okay with the Fed, it was the second thing — the ongoing turmoil in the banking system — that mattered even more." In the week ahead, investors will likely continue watching the banking sector for indicators of potential weakness.

☆ This fund manager has never owned a bank stock — and reveals what he looks for instead
▼ + stars: | 2023-03-24 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Investors have fled bank stocks in droves since a crisis in the sector broke out earlier this month. Fund manager Ian Mortimer is not a fan — and said he has never owned a banking stock in any of his funds. If you think about that as your starting point, the vast majority in the banking sector do not pass those criteria," he said. "The banking sector has been an area that often pays quite high dividends — sort of attractive from that perspective. So, it's a ... theory that in distress, the banking sector will reduce or potentially cancel their dividends," Mortimer added.

☆ This week's best performers include Regeneron and these two solar stocks
▼ + stars: | 2023-03-24 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Solar stocks Enphase and SolarEdge were also among the best performing stocks as investors continued weighing how the Inflation Reduction Act could boost solar companies. The average price target on the stock implies upside of 49.3% over the next 12 months. The stock's average price target implies it could rally 29.5%. Around three-fifths of analysts rate the stock a buy with a price target that implies a potential 16.7% rally. Technology stocks made up the majority of the list this week as investors bet growth stocks could benefit in an environment with lower interest rates.

☆ Bank fears will likely lead to even more market volatility in the week ahead
▼ + stars: | 2023-03-24 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

Market turbulence could reign supreme once again in the week ahead, as investors worry about the potential for more trouble rippling through the banking system. The broader market was initially under pressure Friday as investors became jittery about Deutsche Bank . "The market is saying: 'You, the Fed, do not appreciate the slowdown that is going to hit us,'" Chandler said. "The market is going to do a lot better and it held onto its gains despite all the things that rocked the market. He added that market concern about banks has risen, and there is concern credit tightening will hurt the economy.

☆ CNBC Daily Open: Janet Yellen changed the mood — again
▼ + stars: | 2023-03-24 | 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. Yellen spoke more on the banking crisis yesterday — this time, though, there was a material difference in what she said. In prepared remarks, Yellen reiterated before a House subcommittee that the federal government guaranteed deposits at Silicon Valley Bank and Signature Bank to "prevent contagion." Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: Yellen changed the mood — again
▼ + stars: | 2023-03-24 | 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. Yellen spoke more on the banking crisis yesterday — this time, though, there was a material difference in what she said. In prepared remarks, Yellen reiterated before a House subcommittee that the federal government guaranteed deposits at Silicon Valley Bank and Signature Bank to "prevent contagion." Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ These beaten-down bank stocks have strong deposit bases and are well liked by analysts
▼ + stars: | 2023-03-23 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Bank stocks have been pummeled in recent weeks amid the ongoing crisis centered around regional banks — but Wall Street sees some buying opportunities among the financial shares that have solid fundamentals and strong deposit bases. The financial shock spurred by the closure of Silicon Valley Bank has pushed down a bevy of bank stocks in recent days as investors considered the risk of contagion. Silicon Valley Bank had around 95% of it deposits uninsured as of December. But Wall Street is expecting some bank stocks to come back as investors look past the broader crisis and find comfort in those with relatively strong fundamentals and customers. First Citizens BancShares and Goldman Sachs also made the list, with each having 33% of its deposits uninsured.

☆ Bank Stocks Slump After Fed Raises Rates
▼ + stars: | 2023-03-22 | by ( Gina Heeb | ) www.wsj.com time to read: 1 min

Financial stocks dropped sharply Wednesday after the Federal Reserve raised interest rates by an expected quarter point and signaled that it isn’t overly concerned about economic risks tied to the collapse of several banks. The KBW Nasdaq index of commercial banks and the SPDR S&P Regional Banking ETF were both down about 4%, after earlier being down less than half that. Shares of two major regional banks, PNC Financial Services Group and U.S. Bancorp , were down more than 5%. JPMorgan Chase & Co. and Bank of America Corp. were down more than 2%.

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