First Republic Bank lost $102 billion in deposits last month
The regional lender that got swept up in March’s bank turmoil said that deposits plunged ...
The regional lender that got swept up in March’s bank turmoil said that deposits plunged nearly 41% last quarter, and they would have fallen by more than 50% if 11 large banks hadn’t plugged it with $30 billion to shore up confidence. But what little faith was restored seems to have evaporated, not least because execs ended their earnings call yesterday after just 12 minutes. The bank’s stock, already down 87% this year, dropped by another ~18% after it released its results.
US stock futures fall early Tuesday, as investors await the next round of corporate...
US stock futures fall early Tuesday, as investors await the next round of corporate earnings from Big Tech companies. Meanwhile, consumer confidence data for April is also due to be released later today. Here are the latest market moves.
On the docket: Alphabet, Microsoft, Bank of America, all reporting.
U.S. stocks end mixed, with tech-heavy Nasdaq booking modest loss
U.S. stocks closed mixed on Monday, with the Nasdaq Composite slipping ahead of Big Tech earnings due...
U.S. stocks closed mixed on Monday, with the Nasdaq Composite slipping ahead of Big Tech earnings due out this week. The Dow Jones Industrial Average DJIA, +0.20% closed around 0.2% higher, while the S&P 500 SPX, +0.09% edged up 0.1% and the tech-heavy Nasdaq COMP, -0.29% fell 0.3%, according to preliminary data from FactSet. Information technology was the S&P 500’s worst-performing sector on Monday, falling around 0.4%, preliminary data from FactSet show.
The energy sector is off to a mixed-to-lower start on modest declines...
The energy sector is off to a mixed-to-lower start on modest declines in the crude complex and major market futures. U.S. equities are trading slightly lower in the pre-market ahead of a busy week for earnings while investors also await U.S GDP data for the first quarter, the personal consumer expenditures Index for March, and consumer confidence numbers for April.
WTI and Brent crude oil are lower as investors balance a slowing economy with growing concerns over tight supply. The market is also closely watching first-quarter earnings, as they have sparked worries of a weakening U.S. economy so far, following worse-than-expected corporate earnings from the technology sector. A cooling economy, along with expectations the Federal Reserve will raise interest rates when they meet next month, is clouding the demand outlook. However, China’s economic recovery is lending support, as they most recently released customs data which showed the country brought in record volumes of crude shipments in March.
Natural gas futures are down on forecasts for milder weather and less heating demand in the near term.
