U.S. stock index futures dropped more than 1% on Wednesday amid concerns about a banking crisis.Market SnapshotAt 8:20 a.m. ET, Dow e-minis were down 562 points, or 1.73%, S&P 500 e-minis were down 68.75 points, or 1.74%, and Nasdaq 100 e-minis were down 170.75 points, or 1.38%.Pre-Market MoversCredit Suisse— Shares of Credit Suisse were down 25% after the firm’s biggest backer, Saudi National Bank,said it won’t provide it with further financial help. Credit Suisse and several other European banks, includingSociete Generale, Italy’sMonte dei PaschiandUniCredit, werehalted from tradingas prices plummeted.Bank of America,Morgan Stanley,Wells Fargo— Shares of larger financials were in lower early Wednesday as the Credit Suisse tumble sent ripples across the global banking sector. Bank of
The Fed is scheduled to reconvene 2 weeks later on 21-22 March to decide on the next monetary policy and the odds have recently risen that the Fed may announce an interest hike of 50 basis points rather than the previously widely expected 25 basis points, after recent hawkish stance by the Fed chairman in his semiannual monetary policy report to the Congress dented hopes by Wall Street on a monetary pivot. With renewed hawkishness on interest hikes to tame the stubbornly high inflation sticking longer than expected, the market is increasingly pricing in a recession. While banks stand to gain from higher interest rates, extreme hikes will eventually raise their costs of funding as they compete for deposits, while businesses rein in their investments during economic downturn and banks' provi
SVB announced a $2.25B capital raise and sale of almost all of their securities for a loss. This has shaken the bank industry. Investors may also be wondering what kind of negative impact and effect will the Fed’s aggressive rate hike campaign has on the financial system and world. Anyway, selling accelerated throughout the day to sum up a bloodbath Thursday. ======= Stock Market Outlook Mar 2023 https://youtu.be/BGqTJeVsSuk Subscribe to my YouTube channel for weekly market analysis $Apple(AAPL)$ $Tesla Motors(TSLA)$ $SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ Trust(QQQ)$
SVB announced a $2.25B capital raise and sale of almost all of their securities for a loss. This has shaken the bank industry. Investors may also be wondering what kind of negative impact and effect will the Fed’s aggressive rate hike campaign has on the financial system and world. Anyway, selling accelerated throughout the day to sum up a bloodbath Thursday. ======= Stock Market Outlook Mar 2023 https://youtu.be/BGqTJeVsSuk Subscribe to my YouTube channel for weekly market analysis $Apple(AAPL)$ $Tesla Motors(TSLA)$ $SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ Trust(QQQ)$
$Airbnb, Inc.(ABNB)$ Towns are starting to enforce A LOT of taxing on Airbnb, so prices will just go up and people will start going back to hotels. Airbnb was a good idea, but then the rich got a taste of it and bought up every small town. They have priced out every local and I doubt they want to work in a pizza shop.I heard one person say, “2nd home owners are going to hurt the worst” and I was like, “awww they will have to get another job? Noooo. Well, too bad they have been telling us for so long that we don’t work hard enough, so welcome to the show buddy! Strap in because it gets rough.”