Company / Analytics

Analytics, 12 March 2023

Week 10 in Brief

North America

Wall Street’s indexes have closed lower with investors running for the exits as they stressed out about the health of US banks after regulators closed a high-profile lender to the technology sector.

Tech-focused lender Silicon Valley Bank shut down following losses in its bond portfolio, prompting the biggest bank failure since the global financial crisis and sending shockwaves through the banking sector.

Stocks closed sharply lower and Treasury yields extended their slide on Friday over fears of contagion in the financial sector and strong February employment data showing the economy added more jobs than expected.

How did the major indices perform?

On Friday:

For the Week:

What Drove the U.S. Market?

How Did the European Markets Perform?

How did Asian Markets Perform

Bonds and Commodities


Next Week

A critical inflation report next week will test a U.S. stock market already consumed by worries over Federal Reserve hawkishness and potential fallout from the most significant bank failure since the financial crisis. However, Signs of a resilient U.S. economy are boosting the appeal of semiconductor stocks, even as worries over the Federal Reserve’s monetary policy tightening weigh on the sector along with the broader market.

While the inflation report will get the majority of the attention, traders should also pay close attention to the February retail sales data which should show consumer spending is weakening. Housing data is expected to remain weak, while a couple of Fed regional surveys (Empire/Philly) should show manufacturing data remains deeply in contraction territory. Friday’s release of consumer sentiment is expected to hold steady, while many traders will pay close attention to see if inflation expectations continue to retreat.

The Fed’s blackout season is on the horizon.

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