Top 10 things to watch Monday, March 20 1. Wall Street looks steady to start the week and ahead of the Fed’s post-meeting interest rate decision Wednesday afternoon. The market puts about 60% odds on a quarter-point rate hike and 40% odds on no hike as policymakers watch of the unfolding banking struggles. Here are … Read more
First Republic Bank headquarters is seen on March 16, 2023 in San Francisco, California. Tayfun Coskun | Anadolu Agency | Getty Images Check out the companies making headlines before the market’s opening bell. First Republic — The bank tumbled about 19% premarket after Standard & Poor’s cut its credit rating again, to B+ from BB+, … Read more
The global automotive industry is in transition, as consumers increasingly shun internal-combustion-engine vehicles for electric ones. It means EVs are grabbing a bigger slice of the global auto market, according to French investment bank Societe Generale , with one-third of cars sold in China now electric. The “sharp acceleration” in EV take-up in Europe has … Read more
Red pedestrian crossing signs outside a Credit Suisse Group AG bank branch in Basel, Switzerland, on Tuesday, Oct. 25, 2022. Stefan Wermuth | Bloomberg | Getty Images Talks over rescuing Credit Suisse rolled into Sunday as UBS sought $6 billion from the Swiss government to cover costs if it were to buy its struggling rival, a … Read more
Investors breathed a sigh of relief after the Swiss National Bank said it would provide a liquidity backstop for Credit Suisse. Arnd Wiegmann / Stringer / Getty Images European stocks rounded off a turbulent week with a negative session on Friday, despite announcements that Credit Suisse and First Republic Bank would receive financial help designed … Read more
Tesla has long been an investor favorite for exposure to the electric vehicle transition, but not everyone is convinced. Berkshire Hathaway-backed BYD , for example, is often touted as a better bet than Tesla. “Tesla last year reduced its prices in China twice. BYD increased its prices. We are direct competitors. BYD is so much … Read more
Risk indicators such as the rates on credit default swaps are rising for the European banking sector following the failure of Silicon Valley Bank last week. CDS — a type of financial derivative — rise in value as the risk of default increases. The contracts, which are traded, allow some investors to hedge against a … Read more
The logo of Swiss bank Credit Suisse is seen at a branch office in Zurich, Switzerland, November 3, 2021. Picture taken November 3, 2021. Arnd Wiegmann | Reuters The Swiss National Bank said Wednesday that Credit Suisse is currently well capitalized and that the central bank will provide additional liquidity if necessary, as regulators on … Read more
European stock markets were sharply lower Wednesday, with banking stocks in deep negative territory amid the global Silicon Valley Bank fallout and more bad news for Credit Suisse. The pan-European Stoxx 600 index was down 2.4%, with all sectors trading in the red. Banking stocks plunged 6.7%, followed by the energy sector, which was down … Read more
Check out the companies making headlines in midday trading Tuesday. MENLO PARK, CALIFORNIA – FEBRUARY 02: A security guard stands next to a sign at Meta headquarters on February 02, 2023 in Menlo Park, California. Facebook’s parent company Meta reported better-than-expected fourth quarter earnings with $32.17 billion in revenue. The company’s stock surged 23 percent … Read more