U.S. banks are using reserves to cover for the cash that depositors are withdrawing, setting up a potentially calamitous situation down the road, JPMorgan Chase has warned. In a turbulent March, depositors have pulled just over $300 billion from domestic banks, according to seasonally adjusted Federal Reserve data. At the same time, JPMorgan estimates that…
A road is closed after an oil leak at Marathon Galveston Bay Refinery on October 6, 2021 in Texas City, Texas. Go Nakamura | Getty Images Check out the companies making headlines before the bell. Energy stocks — Energy stocks rose broadly Monday after OPEC surprised the market by announcing a production cut. This led…
The S & P 500, thanks to the outperformance of a small group of technology stocks, enters the second quarter on an upswing. The Relative Strength Indicator, a short-term (14-day) momentum indicator, stands at nearly 63 (30 is oversold, 70 is overbought). The Nasdaq 100, mostly tech stocks, at 68, is positively giddy. Q1: big…
There’s a corner of the market gaining traction among ETF investors, according to The ETF Store’s Nate Geraci. The firm’s president finds international ETFs are experiencing stronger inflows. “There is a little bit of performance chasing going on here, because broad international stocks have fairly significantly outperformed U.S. stocks since about the beginning of the…
An exterior view of a Bed Bath & Beyond store on February 7, 2023 in Clifton, New Jersey. Kena Betancur | Corbis News | Getty Images Check out the companies making headlines in midday trading. Bed Bath & Beyond — Shares continued to slide in Friday’s session with a 22.8% tumble. On Thursday, the company…
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, March 28, 2023. Brendan McDermid | Reuters Wall Street investors believe the stock market is headed for losses after a positive first quarter, seeing cash as the best safe haven right now, according to the new CNBC Delivering Alpha investor survey. We…
An exterior view of a Bed Bath & Beyond store on February 7, 2023 in Clifton, New Jersey. Kena Betancur | Corbis News | Getty Images Check out the companies making headlines before the bell. Bed Bath & Beyond – Bed Bath & Beyond shares dipped 2% before the bell, building on a more than…
One Canada Square, at the heart of Canary Wharf financial district seen standing between the Citibank building and HSBC building on 14th October 2022 in London, United Kingdom. Mike Kemp | In Pictures | Getty Images The prolonged period of loose monetary policy after the global financial crisis equated to central banks “nationalizing bond markets,”…
Andy Sieg, a veteran of Merrill Lynch, is parting ways with Bank of America to join Citigroup. He will be the new head of Citi Global Wealth, reporting to Jane Fraser, the bank’s CEO. Sieg will begin his new role in September, as he is required to take a six-month leave before starting the new…
A Bed Bath & Beyond store in the Brooklyn borough of New York, US, on Monday, Feb. 6, 2023. Bed Bath & Beyond Inc. said it would shutter another 87 stores in addition to the 150 closures it announced in August. Photographer: Stephanie Keith/Bloomberg via Getty Images Stephanie Keith | Bloomberg | Getty Images Check…
