News / Uncategorized
[Platinum Insights] (5.4.23)
[Platinum Insights] (5.4.23)
August 22, 2023
Good morning.
U.S. stock index futures wavered on Thursday as PacWest Bancorp exploring strategic options deepened concerns about the health of regional banks. Investors now look ahead to a key US monthly jobs report on Friday to guide the monetary policy outlook.
In the first four months of 2023, employers announced plans to cut 337,411 jobs, a 322% increase from the same period a year earlier, and the highest January-April total since 2020.
The central bank on raised rates by 25 basis points to the 5.00%-5.25% range and signaled a pause in its policy tightening. U.S. stocks ended lower on Wednesday after Fed Chair Jerome Powell said that it was too soon to say with certainty that the rate-hike cycle was over as inflation remains the chief concern. “The committee will closely monitor incoming information and assess the implications for monetary policy,” the Federal Open Market Committee said in a statement Wednesday.
PacWest Bancorp tumbled 36.3% in premarket trading following talks with potential partners and investors about strategic options after shares of the regional lender and its peers got hammered amid fears of a worsening banking crisis. Shares of other regional lenders such as KeyCorp, Valley National Bancorp and Zions Bancorp fell between 4.5% and 6.6%, while Western Alliance Bancorp dropped 17.2% despite noting that it had not experienced unusual deposit outflows following the sale of First Republic.
WTI crude futures were trading below $69 per barrel. Gold held around $2,040 an ounce while the yield on the US 10-year Treasury note fell back to under the 3.4% level.
Share this article:
More in Uncategorized:
Ultra Clean Holdings (UCTT) July 25, 2024, Earnings Call Summary
Future Price Projections Participants: Rhonda Bennetto – Senior Vice President, Investor Relations Jim Scholhamer – Chief Executive Officer Sheri Savage...
[Platinum Insights] (5.4.23)
July 26, 2024
APPLE, MICROSOFT, NVIDIA PRICE TARGET 🎯
Short term, price targets for the top three S&P 500 holdings
Short term, price targets for the top three S&P 500 holdings The following are my price targets for the very...
Trent Grinkmeyer
July 25, 2024
Nvidia's Stake in Serve Robotics: A Game-Changer for AI-Powered Delivery?
The tech world was buzzing last week when news broke that AI chip giant Nvidia owns a 10% stake in Serve Robotics, a company specializing in autonomous sidewalk delivery robots. This revelation sent Serve's stock soaring an impressive 233% over two days. But what does this mean for the future of AI-powered delivery, and should investors jump on board?
The tech world was buzzing last week when news broke that AI chip giant Nvidia owns a 10% stake in...
Trent Grinkmeyer
July 24, 2024
The Commercial Real Estate Crash
Its Ripple Effect on the Banking System and The Stock Market
The commercial real estate market is on the verge of a significant downturn, potentially mirroring the infamous 2008 financial crisis....
[Platinum Insights] (5.4.23)
July 23, 2024
The Democratization of Compute
A Paradigm Shift in Business and Investment Artificial Intelligence (AI) is undeniably transformative, poised to revolutionize the world as we...
Kerry Grinkmeyer
July 23, 2024
Are Google and Meta Heading for a Stock Price Slump?
As an investor, it's crucial to keep a keen eye on market trends and potential shifts that could impact major players. Today, I want to discuss two tech giants that have long been darlings of Wall Street: Google and Meta. While they've enjoyed impressive growth and dominance in their respective fields, there are signs that their stock prices might face some headwinds in the near future.
As an investor, it's crucial to keep a keen eye on market trends and potential shifts that could impact major...
Trent Grinkmeyer
July 23, 2024