June 13, 2024

Balkan Travellers

Comprehensive up-to-date news coverage, aggregated from sources all over the world

menu icon

Asian markets mostly fell as investors weighed Yellen’s remarks on banks

5 hours ago

Treasury Secretary Yellen says the emergency measures to support banks could be used again if needed

Treasury Secretary Janet Yellen said Thursday that federal emergency measures used to support Silicon Valley bank and signature bank customers could be used again if needed.

“We used important tools to act quickly to prevent infection. And they are tools we can use again,” Yellen said in her written testimony before the House Appropriations Subcommittee.

“The strong measures we have taken ensure that Americans’ deposits are safe,” she added. Certainly, we will be ready to take additional measures if needed.”

Her comments come as regulators aim to reassure customers and investors in the midst of a banking crisis promoted by the Silicon Valley bank’s closure.

Alex Haring and Christina Wilkie

one hour ago

Japan’s core inflation rate has fallen from its January peak

Government data on Friday showed that Japan’s core inflation reading eased from January’s high of 4.2% to 3.1% year-on-year in February.

The reading matched expectations of economists polled by Reuters.

Overall, inflation nationwide was at 3.3% for the month compared to a year ago, which is also lower than the January version of 4.3%.

The consumer price index for the economy, excluding fresh food and energy, rose 3.5% year-on-year.

– Jihe Lee

one hour ago

CNBC Pro: Why a fund manager has never owned a bank stock — and reveals what he’s looking for instead

one hour ago

CNBC Pro: Wall Street downgrades European banks, naming stocks to buy ‘if markets falter’

Wall Street downgrades European banks after pressures in the sector led to an emergency merger of two large Swiss banks.

Two investments promoted another sector and named dozens of stocks to own “in case the markets falter”.

CNBC Pro subscribers can read more here.

– Ganesh Rao

12 hours ago

Unemployment claims come in below expectations

Unemployment claims unexpectedly fell last week, indicating a still very tight job market.

The Labor Department reported Thursday that the initial filing for unemployment insurance came in at 191,000 for the week ended March 18, down from estimates of 198,000. This was a decrease of 1,000 from the previous period.

Continuing claims, which were a week late, rose by 14,000 to 1.694 million.

Stock market futures fell after the data was released.

– Jeff Cox

11 hours ago

Technology stocks lead the market higher

Technology stocks outperformed Thursday, with the Nasdaq 100 up more than 1.4%. Netflix was among the best performers, jumping nearly 7%. Meta Platforms, Amazon, Alphabet and Microsoft shares also jumped more than 1%.

5 hours ago

Cryptocurrency prices rebounded Thursday afternoon

Cryptocurrency prices jumped on Thursday as investors became optimistic that the Federal Reserve’s interest rate hike campaign will end soon. Wall Street also gave up some of its concerns about the ongoing crisis in the banking system.

See also  Andy Gacy, CEO of Amazon, was compensated $213 million in 2021

Bitcoin rose more than 4% to $28,290.71, as measured by Coin. Ether added nearly 5% to trade at $1,822.50.

Cryptocurrencies rose along with other risky assets. All three major stock indices were higher on the day after the Fed’s sell-off in the previous session.

Find out the full story here.

– Tanaya Machel, Hakyung Kim

6 hours ago

Energy is the biggest lag behind the S&P 500

see chart…

S&P 500 energy sector one day