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  • The 2nd Largest FDIC Insured Bank Failure in US History: Rippers Weekly Recap 3/11

The 2nd Largest FDIC Insured Bank Failure in US History: Rippers Weekly Recap 3/11

Plus what trends r/WallStreetBets is hyped about

Author

StockMKTNewz Evan
March 11, 2023

Hey everyone, it’s @StockMKTNewz Evan!

I spend 70 hours every week looking for news so you don't have to. That causes me to tweet a lot which can be hard to keep up with. Having somewhere to put all the major stories in 1 place that is easy to view I think is really valuable, and that's why I make this newsletter! Im trying some slightly different formats with this so send me a DM with any feedback

And keep scrolling to check out the stocks and trends r/WallStreetBets is hyped about on from our favorite AI news monitoring tool - Babbl!

How The Stock Market Performed This Past Week

Heat Map of the S&P 500

How The Largest Stocks Performed

Best Performing Large Cap Stocks

Worst Performing Large Cap Stocks

r/WallStreetBets -- Getting Nervous

We analyzed 10,000 posts so you don't have to...

After a few years of YOLOing into GME, AMC, & TSLA, Reddit is starting to get nervous.

We dove into the last 5 months of posts and pulled out the trends that WallStreetBets is focusing on.

We'll be publishing what we found next week, so get this analysis and more in your inbox by subscribing to Babbl's MarketMood newsletter!

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This Week's Major Headlines

SIVB Bank Goes Bust

Silicon Valley Bank (SIVB) had a very quick demise which played out this week. On Friday, SIVB was officially shut down by California regulators and taken over by the FDIC as it became insolvent.

Here's a little more about how we got to this point. A lot of early stage startups, VCs, and even some public companies had money with SIVB. Yes, SIVB was FDIC insured. But given the nature of their clients being companies, the vast majority of them had more than $250K at the bank. We are only starting to see the fallout from this and a lot will happen over the weekend and this upcoming week ... stay tuned

Jerome Powell Testimony:

Powell spoke in front of House and Senate committees on Tuesday and Wednesday. Overall Powell was a little more hawkish than he has been over the last couple of appearances.

As he was speaking, the markets started to price in the Fed raising rates by 50 Basis points at the next FOMC meeting. CPI and PPI will definitely be on watch next week and will either cement a 50BPs hike or walk the market back to 25BPs.

Some key points from Powell's speech:

  • Fed is prepared to increase pace of rate hikes if needed

  • Ultimate rate peak likely to be higher than expected

  • Stresses no decision made on pace of rate hikes

  • Costs of not getting inflation down will be extremely high

  • The costs of failure to control inflation would be much higher than costs of controlling it

More Of This Week's Biggest Headlines

Get Prepared For A Very Busy Week Ahead!

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