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Regional bank stocks struggled for much of 2023 after the collapses of Silicon Valley Bank and Signature Bank sparked a flight on deposits and sent shockwaves through the stock and bond markets.
First Republic (FRC) and other regional banks are up sharply, in a stunning reversal from the previous session when the sector was hammered following the collapse of Silicon Valley Bank.
The stock declines underscore a disconnect between gloomy investor sentiment surrounding regional banks and the optimism that the crisis is over expressed by big names in Washington and on Wall ...
Elsewhere, in the crypto market, Bitcoin soared over 15% to over $25,000 in the past 24 hours amid SVB and Signature Bank fallout. Bitcoin gained 37% this year, outperforming the S&P 500 by a ...
Investors pushed bank stocks higher last week, riding a stock market rally fueled by hopes that the Federal Reserve might be done raising interest rates and that a "soft landing" in the US economy ...
Regional bank stocks are rallying. The reason: Fed Chair Jay Powell. And maybe Donald Trump too. The boss of the central bank made it clear over the last week that the Fed is inching closer to ...
The Phoenix lender said it attracted $2 billion in new deposits since the end of the first quarter, and a 24% stock surge on Wednesday lifted other troubled regional lenders such as First Republic ...
Stocks of many of these banks closed down by more than 1%. The KBW Nasdaq Bank Index and the SPDR S&P Regional Banking ETF both dropped more than 1% as well.Moody’s attributed its decisions to a ...