Stock futures are flat after banks bolster deposits at First Republic: Live updates
Publishing timestamp: 2023-03-16 19:08:27
Summary
US stock futures were flat after a relief rally earlier in the day, with the Dow Jones Industrial Average futures falling slightly. First Republic Bank's shares fell by 24% in after-hours trading after a nearly 10% surge in the regular session, despite a group of banks pledging $30bn in deposits as a sign of confidence in the banking system. Meanwhile, FedEx's shares rose by 9% after reporting a beat on earnings in its fiscal third quarter and raising its earnings forecast for the full year. Investors are looking ahead to the Federal Reserve's meeting next week to see how the central bank will proceed in its fight against inflation in light of the shakeup in the banking sector.
Sentiment: MIXED
Tickers: KEY, .DJI, .IXIC, CSG.N-CH, ZION, NDAQ, UPS, .SPX, FRC, FDX,
Keywords: business news, markets, breaking news: markets, nasdaq inc, credit suisse group ag, economic events, first republic bank, nasdaq composite, dow jones industrial average, s&p 500 index,
Source: https://www.cnbc.com/2023/03/16/stock-market-today-live-updates.html