- Lawmakers continue to hammer banking regulators over SVB’s collapse.
- Russia Arrests US Correspondent for The Wall Street Journal
- It’s Opening Day for Major League Baseball. Pressure on Steve Cohen’s Mets.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, USA on March 29, 2023.
Brendan McDermidt | Reuters
Here are the most important news for investors to start their trading day:
Stocks rebounded on Wednesday. All three major indexes rose, thanks in large part to tech names like Amazon and Meta. In fact, the tech-heavy Nasdaq is headed for its best quarter since the final three months of 2020. Futures were upbeat Thursday, as investors waited to hear from three Fed speakers in the afternoon: Boston Federal Reserve President Susan Collins, Richmond Fed President Thomas Parkin and Minneapolis Fed President Neal Kashkari. Follow live market updates.
Michael Barr, US Federal Reserve Vice Chairman for Supervision, left, and Federal Deposit Insurance Corporation Chairman Martin Grunberg and US Treasury Undersecretary for Domestic Finance Nellie Liang, during a House Financial Services Committee hearing. Washington, DC, Wednesday, March 29, 2023.
Anna Rose Layton | Bloomberg | Good pictures
Senators had a chance to take the nation’s top bank regulators to task earlier this week over the collapse of a Silicon Valley bank. It’s the turn of the House Financial Services Committee on Wednesday. Lawmakers from both sides of the aisle posed tough questions and demands for transparency to Federal Reserve Vice Chairman Michael Barr, FDIC Chairman Martin Grunberg and top Treasury official Nellie Liang. The committee is chaired by a North Carolina Republican representative. Patrick McHenry pointed out that there were no publicly available notes from regulators’ meetings at the weekend when SVB and Signature Bank failed. “That lack of transparency has a negative effect on public perception of the security of the financial arena,” he said.
Apple gave everyone the big heads-up they’ve been waiting for. The tech giant’s Worldwide Developers Conference is set for June 5 to June 9, with CEO Tim Cook kicking things off. Usually, Apple uses the event to release new iPhones, iPads and software. This year could be different, however, as the company is widely expected to release an augmented reality headset. And, as CNBC’s Giff Lesswing points out, Apple could use the opportunity to show off new, high-powered Macs to a developer-heavy audience at the conference.
File photo taken on July 24, 2021 shows WSJ journalist Ivan Gershkovich detained in Russia.
Dimitar Dilkoff | Afp | Good pictures
Russian authorities arrested Ivan Gershkovich, a reporter for The Wall Street Journal, on suspicion of espionage. The Journal fired back and forcefully rejected Gershkovich’s blocking rationale. “The Wall Street Journal strongly denies the FSB’s allegations and seeks the immediate release of our trusted and dedicated reporter Evan Gershkovich. We stand in solidarity with Evan and his family,” the newspaper said in a statement. Russia is notorious for its strict treatment of the press. The non-profit advocacy group Reporters Without Borders has enlisted Russia One of the worst countries For a free press, it has gotten worse since the country’s forces invaded Ukraine. Follow live battle updates.
New York Yankees right fielder Aaron Judge (99) rounds the bases after hitting home run number sixty-two to break the American League home run record in the first inning against the Texas Rangers at Globe Life Field.
Tim Heidman | USA Today Sports | Reuters
The new Major League Baseball season is about to begin. The reigning World Series champions Atlanta Braves and Washington Nationals are expected to get things rolling early Thursday afternoon, while superstar slugger Aaron Judge and the New York Yankees battle the San Francisco Giants. (Incidentally, the Yankees’ YES Network launched its own streaming app.) The defending World Series champions, the Houston Astros, are scheduled to open their season at home against the Chicago White Sox. A lot of hype surrounds the New York Mets, who were eliminated in the playoffs last year after a 101-win regular season — despite an elephantine payroll financed by majority owner and Wall Street billionaire Steve Cohen.
— CNBC’s Alex Haring, Christina Wilkie, Chelsey Cox, Kiff Lesswing, Holly Elliott and Alex Sherman contributed to this report.
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