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A recession and a credit crunch could result in $1 trillion of corporate debt defaults, Bank of America says

Fri, 05/12/2023 - 12:36

trader worried — Don Emmert /AFP/GettyImages

Markets, MI Exclusive, Recession, Credit Crunch, US economic outlook, recession 2023, mild recession

Mega-cap stocks powered the 2023 market rally, but they now face a bigger selloff risk as recession looms, a JPMorgan strategist says

Fri, 05/12/2023 - 11:57

Traders work on the floor of the New York Stock Exchange. — Traders work on the floor of the New York Stock Exchange.
Michael M. Santiago/Getty Images

Markets, MI Exclusive, Stocks, US stocks, Tech stocks, Stock Market Outlook, Stock Market Analysis

Margin debt used to buy stocks has plunged by $329 billion as investors de-risk their exposure to the market

Fri, 05/12/2023 - 10:50

Traders NYSE — (Photo by Scott Heins/Getty Images)

Markets, MI Exclusive, Stock Market, Stock Market Outlook, Stock Market Analysis, Analyst Note, FINRA Margin Debt

Big banks may cover 95% of the cost to refill the $16 billion hole blown in the FDIC's deposit insurance fund by bank failures

Fri, 05/12/2023 - 10:49

Silicon Valley Bank customers wait in line at SVBs headquarters in Santa Clara, California on March 13, 2023. — Silicon Valley Bank customers in March.
Noah Berger/AFP

Markets, MI Exclusive, FDIC, FDIC insurance, Federal Deposit Insurance Corporation, Bank failures, Banking Crisis

Dollar dominance is stronger because of sanctions, not weaker, says former Treasury official

Fri, 05/12/2023 - 10:28

Tech Insider : Economy

dollar inflation federal reserve — The US dollar hit 20-year highs this year.
NiseriN/Getty Images

Markets, MI Exclusive, Sanctions, Dollar dominance, China, Russia, economy

The debt ceiling crisis is 'pathetic' as government revenue is near a record high, top economist David Rosenberg says

Fri, 05/12/2023 - 09:51

david rosenberg — David Rosenberg.
Screenshot via Bloomberg TV

Markets, MI Exclusive, US debt ceiling, us debt default, debt default, US debt limit, US national debt

US stocks climb but head for a weekly loss as investors weigh debt-ceiling talks

Fri, 05/12/2023 - 09:38

Tech Insider : Crypto

NYSE traders — Lucas Jackson/Reuters

Markets, MI Exclusive, Wall Street, NYSE, Traders, Stock market news today, Stocks

Tech stocks' superb 2023 is about to be shattered by a recession, Bank of America warns

Fri, 05/12/2023 - 08:40

nasdaq — Tech stocks' early-2023 rally could soon be 'cracked' by a US recession, according to Bank of America.
Mario Tama/Getty Images

Markets, MI Exclusive, Stocks, Tech stocks, Bank of America, Michael Hartnett, Stock Market Analysis

The family behind First Citizens Bank has seen its wealth double to $2.2 billion after buying SVB's assets out of bankruptcy

Fri, 05/12/2023 - 07:55

A woman walks in front of a First Citizens Bank branch in Raleigh, North Carolina. — A First Citizens Bank branch in Raleigh, North Carolina. First Citizens Bank has acquired assets from Silicon Valley Bank.
Melissa Sue Gerrits/Getty Images

Markets, MI Exclusive, First Citizens Bank, SVB, Silicon Valley Bank, Silicon Valley Bank collapse, silicon valley bank crisis

Hindenburg Research steps up its offensive against billionaire Carl Icahn's investment firm by shorting its bonds

Fri, 05/12/2023 - 07:25

Carl Icahn — Carl Icahn is the founder and majority shareholder of Icahn Enterprises.
CNBC/Getty Images Contributor

Markets, MI Exclusive, Carl Icahn, hindenburg research, short seller hindenburg research, short seller, Icahn Enterprises

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