LONDON—Crude prices firmed on Tuesday, extending sharp gains from the previous session amid supply disruption risks from Iraqi Kurdistan and hopes that turmoil in banking is being contained. Brent crude futures gained 61 cents, 0.8 percent, to $78.73 a barrel by 1006 GMT. West Texas Intermediate U.S. crude was up 53 cents, or 0.7 percent,…
Oil Extends Gains on Kurdish Supply Risks, Banking Relief
March 28, 2023
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Stocks Rise After Bank Sale Fuels Investor Risk Appetite
March 28, 2023
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LONDON—Global stocks rose and the dollar eased on Tuesday, after a deal backed by the U.S. regulator for First Citizens BancShares to buy up Silicon Valley Bank soothed some of the recent concern about the health of the banking sector. U.S. banking regulators said on Monday they planned to tell Congress that the overall financial…
Inflows to Money Market Funds Top $280 Billion as Investors Pull Bank Deposits
March 28, 2023
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U.S. money market fund inflows have topped $280 million over the past two weeks, as many investors pull their bank deposits, according to a report. The Financial Times reported that more than $273 billion has flooded into money market funds this month, for the biggest month of inflows since the height of the pandemic in…
Most Stocks Tick Up, Including a Jump for Beaten-Down Banks
Stocks closed mostly higher on a steadying Wall Street as battered banks showed more strength, at least for now. Markets have been in turmoil following Silicon Valley Bank’s collapse, the second-largest U.S. bank failure in history, earlier this month, and then the third-largest failure, by New York-based Signature Bank. Investors have been hunting for which…
Economists Expect US Recession, Inflation Above Fed Target This Year
March 27, 2023
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Economists predict that the United States will likely enter a recession by the end of this year, with high inflation extending well into 2024, according to a recent semiannual survey. The March 2023 National Association for Business Economics (NABE) Economic Policy Survey published the responses of 217 members of the organization in a March 27 report….
Wall Street Opens Higher as SVB Deal Eases Bank Crisis Worries
Wall Street’s main indexes opened higher on Monday after a buyout deal for the deposits and loans of the failed Silicon Valley Bank calmed nerves about stress in the banking sector. The Dow Jones Industrial Average rose 39.19 points, or 0.12 percent, at the open to 32,276.72. The S&P 500 opened higher by 11.94 points,…
Wall Street, Banks Rise After SVB Sale to First-Citizens
March 27, 2023
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U.S. futures shot higher early Monday, with bank stocks mostly gaining after the Federal Deposit Insurance Corp. said it had agreed to the sale of troubled Silicon Valley Bank to North Carolina-based First-Citizens Bank & Trust Co. Futures for the Dow Jones Industrial Average and S&P 500 each climbed 0.8 percent early Monday. The FDIC…
Dollar Steady as Banking Worries Keep Investors on Edge
SINGAPORE/LONDON—The dollar was steady on Monday, while the yen hovered near its seven-week peak as investors assessed moves made by authorities and regulators to rein in worries over the global banking system. The dollar index, which measures the currency against six rivals, rose 0.06 percent at 103.05, having gained 0.5 percent on Friday amid banking…
Oil Gains Some Ground as Investors Assess Banks, Russia
March 27, 2023
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LONDON—Oil prices rose on Monday as investors assessed efforts by authorities to rein in concerns over the global banking system while Russian President Vladimir Putin’s plans to place tactical nuclear weapons in Belarus ratcheted up tensions in Europe. Brent crude futures were up 30 cents, or 0.4 percent, to $75.29 a barrel at 0900 GMT….
Investing: Buy Food Stocks? We All Gotta Eat
By James K. Glassman From Kiplinger’s Personal Finance In a terrible time for most stocks, a few sectors have done awfully well. One of them: food. Archer-Daniels-Midland, the giant food-processing company, surged 39.7 percent in 2022, and General Mills returned 27.6 percent. Indeed, the food sector—which includes agriculture, manufacturing, packaged goods and grocers—has outperformed the…
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