S&P 500 e-minis were up 0.82%, or 32.75 points, while Nasdaq 100 e-minis were up 0.81%, or 103.5 points. Dow Jones e-minis were advanced by 0.68% or 221 points. Among the high-performing stocks were Microsoft Corp, Alphabet and Meta Platforms, each of which rose between 0.8% and 1.5% during premarket trading.

Now, investor focus has shifted to this week’s upcoming economic data, which is expected the indicate the effectiveness of the Federal Reserve’s monetary policy, particularly its latest 25 basis point interest rate hike.

“There are growing expectations that the Federal Reserve may hike interest rates again at the next meeting, but it’s still believed to be close to the summit of peak rates, particularly as banking lending is expected to tighten, causing a drag on the economy,” Susannah Streeter, head of money and markets at Hargreaves Lansdown commented. She added that the decline in banking sector concerns has restored investors’ willingness to take risks.

The post Futures Rise As Banking Sector Concerns Subside appeared first on theprimarymarket.com.

Contracts on the S&P 500 edged 0.1% lower while those on the tech-heavy Nasdaq Composite Index slid downwards by 0.2%. The Dow Jones Industrial Average remained little changed during early trading.

Bond yields, in contrast, moved higher, with the 10-year U.S. Treasury note rising 3.56% during the morning session. After rising more than 5% during the previous session, West Texas Intermediate crude oil edged slightly lower to $72 per barrel.

Investors’ sights remain firmly focused on the banking sector following the acquisition of SVB by First Citizens. SVB’s collapse is estimated to have cost the FDIC’s Deposit Insurance Fund about $20 billion. Still, the takeover marginally restored investor confidence in the banking sector, with the KBW Nasdaq Bank Index closing 2.5% higher.

The post Stock Edge Lower Following Silicon Valley Bank Takeover appeared first on theprimarymarket.com.

According to the details of the deal, First Citizens will take on $72 billion in loans at a discount price of $16.5 billion. It will also receive SVB’s assets valued at $110 billion and $56 billion in deposits.

“In addition, the FDIC received equity appreciation rights in First Citizens BancShares, Inc., Raleigh, North Carolina, a common stock with a potential value of up to $500 million,” the FDIC said in a statement adding that they will keep “$90 billion in securities and other assets” from SVB.

On Monday, 17 of SVB’s former branches re-opened as First Citizens locations. Also, all of SVB’s clients have automatically become the clients of First Citizens.

Silicon Valley Bank was closed by regulators earlier in March due to “inadequate liquidity and insolvency.” It was the second-largest bank failure in the history of the U.S. and sparked a banking crisis that also caused New York-based Signature Bank to fold. Following the collapse of two banks, the Federal Reserve stepped in and promised the full protection of all deposits.

The post First Citizens Bancshares Makes a Deal to Acquire Collapsed Silicon Valley Bank appeared first on theprimarymarket.com.

S&P 500 e-minis were up 0.82%, or 32.75 points, while Nasdaq 100 e-minis were up 0.81%, or 103.5 points. Dow Jones e-minis were advanced by 0.68% or 221 points. Among the high-performing stocks were Microsoft Corp, Alphabet and Meta Platforms, each of which rose between 0.8% and 1.5% during premarket trading.

Now, investor focus has shifted to this week’s upcoming economic data, which is expected the indicate the effectiveness of the Federal Reserve’s monetary policy, particularly its latest 25 basis point interest rate hike.

“There are growing expectations that the Federal Reserve may hike interest rates again at the next meeting, but it’s still believed to be close to the summit of peak rates, particularly as banking lending is expected to tighten, causing a drag on the economy,” Susannah Streeter, head of money and markets at Hargreaves Lansdown commented. She added that the decline in banking sector concerns has restored investors’ willingness to take risks.

The post Futures Rise As Banking Sector Concerns Subside appeared first on theprimarymarket.com.

Contracts on the S&P 500 edged 0.1% lower while those on the tech-heavy Nasdaq Composite Index slid downwards by 0.2%. The Dow Jones Industrial Average remained little changed during early trading.

Bond yields, in contrast, moved higher, with the 10-year U.S. Treasury note rising 3.56% during the morning session. After rising more than 5% during the previous session, West Texas Intermediate crude oil edged slightly lower to $72 per barrel.

Investors’ sights remain firmly focused on the banking sector following the acquisition of SVB by First Citizens. SVB’s collapse is estimated to have cost the FDIC’s Deposit Insurance Fund about $20 billion. Still, the takeover marginally restored investor confidence in the banking sector, with the KBW Nasdaq Bank Index closing 2.5% higher.

The post Stock Edge Lower Following Silicon Valley Bank Takeover appeared first on theprimarymarket.com.

According to the details of the deal, First Citizens will take on $72 billion in loans at a discount price of $16.5 billion. It will also receive SVB’s assets valued at $110 billion and $56 billion in deposits.

“In addition, the FDIC received equity appreciation rights in First Citizens BancShares, Inc., Raleigh, North Carolina, a common stock with a potential value of up to $500 million,” the FDIC said in a statement adding that they will keep “$90 billion in securities and other assets” from SVB.

On Monday, 17 of SVB’s former branches re-opened as First Citizens locations. Also, all of SVB’s clients have automatically become the clients of First Citizens.

Silicon Valley Bank was closed by regulators earlier in March due to “inadequate liquidity and insolvency.” It was the second-largest bank failure in the history of the U.S. and sparked a banking crisis that also caused New York-based Signature Bank to fold. Following the collapse of two banks, the Federal Reserve stepped in and promised the full protection of all deposits.

The post First Citizens Bancshares Makes a Deal to Acquire Collapsed Silicon Valley Bank appeared first on theprimarymarket.com.