CNBC Daily Open: UBS gets a new (old) Group CEO
Publishing timestamp: 2023-03-29 02:46:40
Summary
UBS appoints Sergio Ermotti as its new Group CEO, while regulators testify before the US Senate on SVB's collapse. Alibaba announces it will split into six business groups, causing its shares to rise. US stocks fall as Treasury yields rise and Senate hearing drags down banks. Goldman Sachs predicts generative AI will add $7 trillion in global economic growth. Despite concerns over inflation and interest rate fears, US markets seem to be looking beyond challenges in the financial sector and recognizing that US economic growth continues to be resilient.
Sentiment: NEUTRAL
Tickers: GSBD, BABA, 3690-HK, UBSG-CH, CSG.N-CH, BIDU, 700-HK,
Keywords: ubs group ag, meituan, u.s. department of the treasury, interest rates, technology, tencent holdings ltd, banks, markets, world markets, business news, credit suisse group ag, federal reserve bank, goldman sachs bdc inc, alibaba group holding ltd, economic events, baidu inc, united states, inflation,
Source: https://www.cnbc.com/2023/03/29/stock-markets-ubs-gets-a-new-old-group-ceo.html