Rating agency Fitch downgraded the U.S. government’s longer-term credit rating to AA+ from AAA. This was the second downgrade in the nation’s history. The first came in August 2011 from S&P Global Ratings after a government standoff over the debt ceiling. The agency cited “the expected …
In the end, stocks had a solid gain in the first quarter. The S&P 500 Index climbed 7.5%, including dividends. But it sure wasn’t easy. After being up more than 8% for the year in mid-February, stocks pulled back sharply, due in part to the banking crisis that took place the second week …
In the midst of a banking crisis that has seen some of the largest U.S. banks collapse nearly overnight and 100-year-old European banks verging on failure, not to mention a volatile bond market and a plunge in crude oil — the Federal Reserve raised rates. While we’d expect stocks to tumble …
On the heels of the first three bank failures in years, issues spread across the pond last week as Credit Suisse Group AG became the latest banking institution to make headlines over solvency concerns. Let’s be clear: This Swiss bank was a three-dollar stock two weeks ago and has long been …
You likely have heard about the recent Silicon Valley Bank (SVB) collapse and probably have questions. Here, we provide you with unbiased answers to your questions.
Founded in 1983, Silicon Valley Bank’s parent company, SVB Financial, announced on Wednesday it had sold $21 billion in assets to raise cash and was taking a $1.8 billion loss while also trying to raise capital. Due to dwindling deposits and losses in its holdings, the bank was forced to se …
After the 11th best start to a year for the S&P 500 as of Valentine’s Day, stocks have pulled back during the second part of February in what we would classify as perfectly normal price action. The best three months of the year for stocks are November, December, and January. That means …
