Reside information updates from March 16: Huge banks bolster First Republic, ECB will increase charges by 50bps

Yellen: US Treasury secretary Janet Yellen will seem earlier than the Senate finance committee to testify on President Joe Biden’s fiscal yr 2024 price range. She’s going to in all probability be requested in regards to the response from Treasury, the Federal Reserve and the Federal Deposit Insurance coverage Company, which carried out measures to calm panic amongst deposit holders and forestall contagion after the failures of Silicon Valley Financial institution and Signature Financial institution.

Earnings: Parcel group FedEx, usually an financial bellwether, will report earnings after the market closes. Analysts anticipate the corporate to have earned $2.70 a share on income of $22.7bn, within the quarter to February, in contrast with $4.20 a share on income of $23.6bn through the prior-year interval.

Low cost retailer Greenback Common studies earnings earlier than the opening bell. Analysts predict the chain can have earned $3 a share on income of $10.2bn within the three months to January, up from $2.57 a share on income of $8.65bn a yr earlier than.

Financial knowledge: Economists anticipate 205,000 claims for state unemployment help to have been made through the week ending March 11, in response to Refinitiv. Such a determine would maintain US jobless claims, that are a proxy for lay-offs, above 200,000 for the second week in a row. Individually, economists anticipate new housing begins in February to have held regular at 1.3mn from January.


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