{"id":1875353,"date":"2023-03-13T06:56:03","date_gmt":"2023-03-13T10:56:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/futures-pare-gains-as-bank-stocks-drag-on-svb-contagion-fears\/"},"modified":"2023-03-13T07:05:26","modified_gmt":"2023-03-13T11:05:26","slug":"futures-pare-gains-as-bank-stocks-drag-on-svb-contagion-fears","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/futures-pare-gains-as-bank-stocks-drag-on-svb-contagion-fears\/","title":{"rendered":"Futures pare gains as bank stocks drag on SVB contagion fears"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffutures-pare-gains-as-bank-stocks-drag-on-svb-contagion-fears%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1875353&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p> <br \/>\n<?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"entry-content\">\n<p>By Amruta Khandekar and Shristi  Achar A<\/p>\n<p>(Reuters) -U.S. stock index futures pared early gains on Monday as Silicon Valley Bank\u2019s (SVB) collapse hit the banking sector on contagion fears, while bets that the Federal Reserve could pause interest rate hikes in March rose.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<\/p>\n<p>The sudden shutdown of SVB Financial on Friday following a failed capital raise triggered concerns about risks to other banks from the Federal Reserve\u2019s sharpest rate hike cycle since the early 1980s.<\/p>\n<p>Regulators over the weekend stepped in to restore investor confidence in the banking system, saying Silicon Valley Bank depositors will have access to their funds on Monday.<\/p>\n<p>Trading in shares of SVB\u2019s peer Signature Bank was halted before the bell. First Republic Bank dropped 61.4% in premarket trading, while Western Alliance Bancorp fell 26.0%.<\/p>\n<p>Shares of big U.S. banks including JPMorgan Chase &#038; Co, Morgan Stanley and Bank of America fell between 1% and 5%.   <\/p>\n<p>\u201cThe situation with SVB reminds people that the era of zero interest rate money is over,\u201d said Russ Mould, investment director at AJ Bell.<\/p>\n<p>\u201cGenerally speaking, higher interest rates have been seen as a net win because of higher net interest margins. But this is equally a reminder that they can also be sour loan losses that come with a higher interest rate environment and a slower economic environment.\u201d<\/p>\n<p>The benchmark S&#038;P 500 tumbled 4.6% last week to mark its biggest weekly percentage decline since September, erasing nearly all of its year-to-date gains.<\/p>\n<p>Traders\u2019 bets are currently equally split between a pause or a 25-basis-point rate hike at the Fed\u2019s next meeting in March..<\/p>\n<p>The projections of a terminal rate have also receded to just under 5% by July from around 5.5% earlier.<\/p>\n<p>Goldman Sachs analysts said they no longer expect the Fed to raise rates by 25 basis points at its next policy meeting on March 21-22.    <\/p>\n<p>Investors also await crucial inflation data due on Tuesday for more clues on the Fed\u2019s monetary tightening plans.<\/p>\n<p>At 6:14 a.m. ET, Dow e-minis were down 84 points, or 0.26%, S&#038;P 500 e-minis were down 2 points, or 0.05%, and Nasdaq 100 e-minis were up 46.5 points, or 0.39%.<\/p>\n<p> (Reporting by Shubham  Batra and Amruta Khandekar in Bengaluru; Editing by Dhanya Ann Thoppil, Sriraj Kalluvila and Vinay Dwivedi)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/futures-pare-gains-as\/attachment\/traders-work-on-the-floor-of-the-nyse-in-new-15\/\"><\/a><\/p>\n<\/p><\/div>\n<p><\/p>\n<hr>\n<p>&#8220;From <a href=\"https:\/\/www.oann.com\/business\/futures-pare-gains-as\/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=futures-pare-gains-as\">Futures pare gains as bank stocks drag on SVB contagion fears<\/a>&#8221;<\/p>\n<hr>\n<p><span style=\"font-size:11px\"><em>&#8220;The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily&#8221;<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Amruta Khandekar and Shristi Achar A (Reuters) -U.S. stock index futures pared early gains on Monday as Silicon Valley Bank\u2019s (SVB) collapse hit the banking sector on contagion fears, while bets that the Federal Reserve could pause interest rate hikes in March rose. The sudden shutdown of SVB Financial on Friday following a failed &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1889964,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[5373,10470,7069,4567,20803,9816,21444,10467,21356],"class_list":["post-1875353","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-bank","tag-contagion","tag-drag","tag-fears","tag-futures","tag-gains","tag-pare","tag-stocks","tag-svb"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1875353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1875353"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1875353\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889964"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1875353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1875353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1875353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}