Wall Street equities rose on Monday as worries about the banking system were reduced. First Citizens BancShares stated it would take over the deposits and loans of insolvent Silicon Valley Bank. The S&P 500 bank index, which had closed down more than 22% for the month on Friday, ended the day up 3%. The deal Read More…
Currency futures fell on Friday as the dollar rose amid banking crisis worries. The euro and the pound both experienced significant declines on Friday. European banking stocks dropped on concerns that the worst issues to affect the industry since the 2008 financial crisis had not yet been resolved. Deutsche Bank and UBS Group took the Read More…
Gold prices increased on Thursday with a weaker US dollar following the FOMC’s announcement of a dovish interest rate hike, indicating its tightening campaign may end. Gold traders are elated again after the Federal Reserve confirmed Wednesday’s anticipated small 25 basis point interest rate hike. After retracing from year-to-date highs on Monday and Tuesday, the Read More…
On Wednesday, oil prices increased by around 2% to a one-week peak as the dollar fell to a six-week low. This followed the US Federal Reserve’s announcement of an expected modest rate hike and a suggestion that it was ready to pause further hikes. In response to recent market instability brought on by the collapse Read More…
US equities closed substantially higher on Tuesday as market players focused on the Federal Reserve. This came as widespread concerns regarding liquidity in the banking sector subsided. The Fed is anticipated to end its two-day policy meeting on Wednesday with a 25 basis-point increase to its policy rate. Regional bank collapses this week, followed by Read More…
US equities increased on Monday as investors were reassured by a deal to save Credit Suisse and moves by central banks to boost trust in the financial system. Investors also considered the possibility that the Federal Reserve could hold off on raising interest rates this week. Late on Sunday, UBS and rival Credit Suisse agreed Read More…
