![]() ![]() The Federal Reserve has lifted its benchmark interest rate to a range of 5%-5.25%, up from virtually zero early last year, in hopes of slowing high inflation. ![]() Among the reasons some smaller and mid-sized banks gave for the forecast were wanting to take less risk and worries about deposit outflows. Not only that, the survey suggested banks widely expect to raise their standards over the course of 2023. That in turn could raise the risk of a recession that many investors already see as highly likely.Ī report Monday from the Federal Reserve showed many banks tightened their lending standards during the first three months of the year. The larger concern for markets is that all the turmoil could cause banks to pull back on their lending. Weighed down by much higher interest rates, smaller and mid-sized banks are scrambling to assure Wall Street their deposits are secure and not at risk of seeing a sudden exodus, similar to the runs that toppled Silicon Valley Bank and others. jobs, which calmed worries about a possible recession but raised concerns about high inflation, and fears about smaller and mid-sized banks dominated the previous week. The Dow Jones Industrial Average slipped 0.2% to 33,618.69 while the Nasdaq composite added 0.2% to 12,256.92.Ī strong reading on U.S. On Wall Street, the S&P 500 edged up by less than 0.1% to 4,138.12, coming off its worst week in nearly two months. “The survey showed a tightening of credit availability, impacting companies’ margins and signaling an imminent economic slowdown.” stocks traded within a tight range, remaining mostly unchanged in volatile trading, as investors reacted to the mixed response to the Fed’s senior loan officer survey," said Anderson Alves, analyst at ActivTrades. “Asian equities traded sideways on Tuesday after U.S. China’s trade surplus in April widened, growing 82.3% compared to the same period last year. and European Union showed a contraction in comparison with last year. Exports grew to $295.4 billion compared with a year earlier, although at a slower pace, building on momentum seen in the March data when exports rose 14.8%.īut imports shrank at a faster pace, with the total slumping 7.9% to $205.2 billion compared to the same time last year, according to data Tuesday from the General Administration of Customs. Hong Kong's Hang Seng lost 0.6% to 20,177.55, while the Shanghai Composite edged up 0.3% to 3,406.03.Ĭhinese exports grew 8.5% in April, showing more unexpected strength despite weakening global demand, according to customs data. Japan's benchmark Nikkei 225 gained 1.1% in afternoon trading to 29,254.37. All rights reserved.NEW YORK – Asian shares traded mixed Tuesday as investors took a wait-and-see view on the week ahead that's full of reports on some of the market’s biggest worries, including stubbornly high inflation across the economy. This initiative will be funded with the use of a grant from the Wisconsin Department of Transportation, the department said.Ĭopyright 2023 WBAY. So, if you’re planning to meet friends after work or attend a party, please also take the time to plan for a safe ride home,” said Lieutenant Tom Buchmann, Green Bay Police Department. Patrick’s Day, and New Year’s, people like to celebrate on Cinco de Mayo and as a result we tend to see an increase in alcohol-related traffic violations. The Click It or Ticket patrol will be Friday, May 5, from 6:00 p.m. Green Bay Police announced Thursday that officers will keep an eye out for drunk driving between Friday, May 5, from 11:00 p.m. (WBAY) - This Cinco de Mayo, Green Bay Police will be monitoring for signs of impaired driving and arresting anyone suspected of Operating While Intoxicated (OWI) along with checking for the use of seatbelts.
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