This week ahead || 27 Mar - 31 Mar 2023

SVB hearing, consumer confidence, quarter end: What to know this week

An eventful first quarter will come to a close this week with the shadow of a banking crisis hanging over a market that has remained resilient this year, with the Nasdaq sitting on a 12% year-to-date gain through Friday's close and the S&P 500 up 3.4% so far this year.

In the week ahead, the first of what will likely be several Congressional hearings on the events surrounding Silicon Valley Bank's collapse will be held Tuesday, when the Senate Banking Committee grills Federal Reserve vice chair for supervision Michael Barr and FDIC chair Martin Gruenberg, among others.

Read about it here.

Banking stress puts U.S. and Europe on watch for credit crunch

Stress in the banking sector is being closely monitored for its potential to trigger a credit crunch, a U.S. Federal Reserve policymaker said on Sunday, as a European Central Bank official also flagged a possible tightening in lending.

Authorities around the world are on high alert for the fallout from recent turmoil at banks following the collapse in the United States of Silicon Valley Bank (SVB) and Signature Bank and the rescue takeover a week ago of Credit Suisse.

Read about it here.

Apple CEO praises China's innovation, long history of cooperation on Beijing visit

Apple (NASDAQ:AAPL) CEO Tim Cook on Saturday used his first public remarks on his visit to China to praise the country for its rapid innovation and its long ties with the U.S. iPhone maker, according to local media reports.

Apple CEO Tim Cook on Saturday used his first public remarks in China in recent years to praise the country for its rapid innovation and its long ties with the U.S. iPhone maker, according to local media reports.

Read about it here.

Analysis-Bank disquiet, Fed keep investors on edge in nervy U.S. stock market

Investors are preparing for a long U.S. stock market slog, braced for more banking sector tumult and worries over how the Federal Reserve's tightening will impact the economy.

Financial stocks in the United States experienced sharp moves throughout the week after the collapse of two U.S. lenders and last weekend's Swiss-government-orchestrated takeover of troubled Credit Suisse by rival UBS.

Read about it here.