Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 29, 2023.
Brendan Mcdermid | Reuters
Here are the most important news items that investors need to start their trading day:
1. Rebound
Stocks bounced back Wednesday. All three major indices finished higher, thanks in large part to tech names such as Amazon and Meta. Indeed, the tech-heavy Nasdaq is headed for its best quarter since the final three months of 2020. Thursday’s futures looked rosy, as well, as investors waited to hear from three Fed speakers in the afternoon: Boston Federal Reserve President Susan Collins, Richmond Fed President Thomas Barkin and Minneapolis Fed President Neel Kashkari. Follow live markets updates.
2. Bank regulators hammered, again
Michael Barr, vice chair for supervision at the US Federal Reserve, left, and Martin Gruenberg, chairman of the Federal Deposit Insurance Corp., and Nellie Liang, under secretary for domestic finance at the US Treasury, during a House Financial Services Committee hearing in Washington, DC, on Wednesday, March 29, 2023.
Anna Rose Layden | Bloomberg | Getty Images
Senators had their chance to take the nation’s top bank regulators to task over the meltdown of Silicon Valley Bank earlier this week. It was the House Financial Services Committee’s turn Wednesday. Lawmakers from both sides of the aisle peppered Federal Reserve Vice Chairman Michael Barr, FDIC Chairman Martin Gruenberg and top Treasury official Nellie Liang with tough questions and demands for transparency. Rep. Patrick McHenry, the North Carolina Republican who chairs the committee, pointed out there were no publicly available notes from regulators’ meetings during the weekend SVB and Signature Bank failed. “That lack of transparency has a negative effect on the public view of the safety of the financial arena,” he said.
3. Let the hype begin
Apple just gave everyone the big heads-up they were waiting for. The tech giant’s Worldwide Developers Conference is…
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