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US Futures, Europe Stocks Waver as Banks in Focus: Markets Wrap

(Bloomberg) -- US stocks were little changed and Treasuries edged lower as uncertainty over the path of the Federal Reserve’s interest-rate hikes continued to plague markets in the wake of three US bank collapses. St. Louis Fed President James Bullard said “appropriate monetary policy can continue to put downward pressure on inflation” despite the turmoil. Meanwhile, US consumers appear to have shrugged off the bank failures, with the latest consumer confidence figures unexpectedly higher....
United Kingdom United States New York Hugh Gimber Tassia Sipahutar Thomas Barkin

US Stocks Decline as Treasuries Churn; Dollar Dips: Markets Wrap

(Bloomberg) -- A slide in technology shares halted a three-day advance in US stocks as investors continued to recalibrate bets on the Federal Reserve’s path forward on interest rates. Treasuries drifted lower. The Nasdaq 100 slumped 0.5% — paring a March advance to 4.7% — with tech stalwarts from Apple Inc. to Alphabet Inc. among the biggest drags. Tech stocks had found favor in recent weeks with the rotation out of financials following the collapse of three US banks. However, the trade ha...
United States United Kingdom New York Thomas Barkin James Bullard Janet Yellen

Stocks Pare Loss as Bonds Edge Lower; Dollar Dips: Markets Wrap

(Bloomberg) -- US stocks were little changed and Treasuries edged lower as uncertainty over the path of the Federal Reserve’s interest-rate hikes continued to plague markets in the wake of three US bank collapses. St. Louis Fed President James Bullard said “appropriate monetary policy can continue to put downward pressure on inflation” despite the turmoil. Meanwhile, US consumers appear to have shrugged off the bank failures, with the latest consumer confidence figures unexpectedly higher....
United States United Kingdom New York Janet Yellen Paul Hickey Namitha Jagadeesh

Stocks Fall as Tech Rotation Falters; Bonds Dip: Markets Wrap

(Bloomberg) -- A slide in technology shares halted a three-day advance in US stocks as investors continued to recalibrate bets on the Federal Reserve’s path forward on interest rates. Treasuries drifted lower. The Nasdaq 100 slumped 0.5% — paring a March advance to 4.7% — with tech stalwarts from Apple Inc. to Alphabet Inc. among the biggest drags. Tech stocks had found favor in recent weeks with the rotation out of financials following the collapse of three US banks. However, the trade ha...
New York United States United Kingdom Tom Hearden Namitha Jagadeesh Vildana Hajric

US Futures Rise as Banks Rally; Treasuries Dip: Markets Wrap

(Bloomberg) -- US stocks pared gains while bonds slid as the banking sector bounced off recent lows on the prospect of further support from US authorities. The S&P 500 pulled back from an as much as 0.8% climb while a banking sector rebound eased. The policy-sensitive Nasdaq 100 reversed early gains. First Citizens BancShares Inc. led a rally in regional lenders after agreeing to buy SVB Financial Group’s Silicon Valley Bank. First Republic Bank jumped on a Bloomberg report that US authorities...
United Kingdom United States New York John Williams Sagarika Jaisinghani Morgan Stanley Michael Wilson

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US Stocks Pare Gains as Banks Rebound; Bonds Drop: Markets Wrap

(Bloomberg) -- US stocks pared gains while bonds slid as the banking sector bounced off recent lows on the prospect of further support from US authorities. The S&P 500 pulled back from an as much as 0.8% climb while a banking sector rebound eased. The policy-sensitive Nasdaq 100 reversed early gains. First Citizens BancShares Inc. led a rally in regional lenders after agreeing to buy SVB Financial Group’s Silicon Valley Bank. First Republic Bank jumped on a Bloomberg report that US authorities...
United Kingdom New York United States Christine Lagarde Craig Erlam Neel Kashkari

Stocks Pare Gains on Tech Weakness; Bonds Retreat: Markets Wrap

(Bloomberg) -- Gains in financial shares lifted US stocks, while Treasuries retreated as fears of broader contagion from the banking turmoil eased. Tech shares slumped after last week’s rally. The S&P 500 rose on Monday, with financial firms in the index up more than 1%. Energy producers also advanced. The tech-heavy Nasdaq 100 ended the session 0.7% lower capping a two-week advance. The two-year Treasury yield headed topped 4%. A gauge of regional lenders climbed roughly 2.5% as First Citizen...
United Kingdom New York United States Joe Gilbert Isabelle Lee Vildana Hajric

US Stocks Climb; Treasuries Drop After BOJ's Move: Mark...

US stocks climbed as shares of major technology companies rose and investors parsed data that showed Federal Reserve tightening is hitting the economy. Treasuries dropped after a sudden hawkish move from the Bank of Japan sent the yen soaring and raised expectations it would join its peers else...
New York United States United Kingdom Krishna Guha Stoxx Europe Peter Williams

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