DJI Dow Jones

DJI: Dow Jones Unsteady Amid Bank Failure Prospects

Wall Street’s 30-stock benchmark turned in a small weekly loss, while its two peers added gains.

  • The Dow Jones Industrial Average is treading volatile waters as the risk of further bank failures weighed on real-economy stocks. The banking sector was the biggest loser, especially on Friday, when efforts from major investment players to rescue First Republic Bank flopped.
  • Money managers are anxious about more banks facing the same harsh reality check and the threat of a wide-spread instability across the financial system has disrupted a promising rebound so far this year. That fear has spread across the Atlantic, hitting hard on Credit Suisse.
  • Amid the sea of red in the Dow, there was a glimmer of hope last week with the S&P 500 and the Nasdaq Composite eking out satisfactory gains. The 500-stock average added 1.4% over the week, while the tech-heavy benchmark advanced a total of 4.4% for the same period.

source: TradingView


RBNZ: No immediate need to request reinstatement of expired US dollar swap line

The Reserve Bank of New Zealand said on Tuesday it saw no immediate need to request the reinstatement of a U.S. dollar swap line that expired in 2021.

“During uncertain times the U.S. Federal Reserve has the ability to offer USD liquidity facilities to other central banks around the world to support smooth market functioning,” the bank said in an emailed statement.

“New Zealand last had access to this facility in response to the market disruption from COVID, however the facility is currently not in place for New Zealand, having expired at end of 2021 and we do not see an immediate need to request its reinstatement.”

The RBNZ said it was continuing to monitor developments in financial markets closely.

source: Reuters

Subscribe toour newsletter!

Exclusive offers, news, and promotions delivered to your inbox. Never miss a discount again.
Privacy Settings
We use cookies to enhance your experience while using our website. If you are using our Services via a browser you can restrict, block or remove cookies through your web browser settings. We also use content and scripts from third parties that may use tracking technologies. You can selectively provide your consent below to allow such third-party embeds. For complete information about the cookies we use, data we collect, and how we process them, please check our Privacy Policy
Consent to display content from - Youtube
Consent to display content from - Vimeo
Google Maps
Consent to display content from - Google