Weekly Market Recap
Weekly Market Recap – May 12, 2023
Weekly Market Recap – May 12, 2023 President Biden and Speaker of the U.S. House of Representatives Kevin McCarthy met for negotiations about the debt ceiling; they failed to reach a consensus amid the looming default but have agreed to meet again. The coronavirus public health emergency, declared by the Trump administration in 2020, expired
Weekly Market Recap – May 5, 2023
Weekly Market Recap – May 5, 2023 First Republic Bank, the second-largest U.S. bank to fail, was seized on Monday by regulators, who then accepted a bid from JPMorgan Chase to acquire most of its assets. The largest, Washington Mutual, which failed during the financial crisis of 2008, had also been acquired by JPMorgan Chase.
Weekly Market Recap – April 28, 2023
Weekly Market Recap – April 28, 2023 President Biden announced his re-election bid to run on the 2024 Democratic ticket. First Republic Bank reported the loss of $100 billion in customer deposits since the end of last year. The Southwest Airlines quarterly earnings release cited a 22% revenue surge in March ($5.7 billion in Q1), a
Weekly Market Recap – April 21, 2023
Weekly Market Recap – April 21, 2023 In Sudan, the latest escalation of combat between rival military factions led to heavy shelling of the capital city, Khartoum. At our press time, a news brief of U.S. special forces’ helicopter evacuation of American embassy staff stated that the operation was successful and that no shots were
Weekly Market Recap – April 14, 2023
Weekly Market Recap – April 14, 2023 The FBI arrested a 21-year-old member of the Massachusetts Air National Guard for leaking classified U.S. military and NATO documents on an online social media platform. Elon Musk said that he has laid off more than 6,000 people at Twitter, approximately 80% of the staff. Historic torrential rains
Weekly Market Recap – April 6, 2023
Weekly Market Recap – April 6, 2023 Finland officially joined NATO on Tuesday. Its 830-mile eastern border is the longest Russia now has with any NATO member. This more than doubles the total combined borders with NATO members that Russia has to 1,584. French President Emmanuel Macron, along with more than fifty French business leaders
Weekly Market Recap – March 31, 2023
Weekly Market Recap – March 31, 2023 On Thursday, Donald Trump became the first former U.S. president indicted on criminal charges. Wall Street Journal reporter Evan Gershkovich was arrested in Russia on accusations of espionage. In response to the strikes and mass protests in Israel, Prime Minister Netanyahu delayed action on his proposed reforms until
Weekly Market Recap – March 24, 2023
Weekly Market Recap – March 24, 2023 After their Moscow summit, Vladimir Putin and Xi Jinping proclaimed economic cooperation, in what appears to be a strategy to secure their respective countries from Western sanctions and other consequences of the Russian invasion of Ukraine. The undercurrent of banking turmoil remained in the news. In order to address
Weekly Market Recap – March 17, 2023
Weekly Market Recap – March 17, 2023 On Tuesday, a Russian fighter jet struck a U.S. surveillance drone over the Black Sea. According to the Pentagon, the impact damaged the drone’s propeller, causing its operators to bring it down in international waters. This event is the first known contact between Russian and American military assets
Weekly Market Recap – March 10, 2023
Weekly Market Recap – March 10, 2023 On Friday, the F.D.I.C. closed Silicon Valley Bank, seizing nearly $175 billion in deposits. This is the second-largest bank failure in U.S. history. President Biden proposed a budget that includes a plan to extend the solvency of Medicare by increasing taxes on individuals earning over $400,000 per year,