Credit Suisse and banking crisis, Fed meeting, Nike earnings top week ahead

Investors are ending a tumultuous week after the collapse of Silicon Valley banks rocked financial markets and cast doubts on the future of a handful of small regional banks. Uncertainty remains for the Fed’s March meeting next week.

The US stock market closed sharply lower on Friday. But the Dow Jones Industrial Average was little changed, the S&P 500 was up 1.4% for him, and the Nasdaq Composite was up 4.4% for him.

Cryptocurrencies will also be in the spotlight after investors turn from stocks and bonds amid bank turmoil after Bitcoin, the largest crypto by market value, crossed the $26,000 level.

Live Crypto Pricing: Here

FOX Business covers next week’s biggest market events.

Monday

The robustness of the U.S. banking system remains a top concern for investors, with the future of several companies at stake.

Credit Suisse is reportedly in talks with several European rivals over assets as the company’s share price plunged to record lows last week. That problem was growing even before the collapse of Silicon Valley Bank.

The FDIC and Your Money: What’s Protected and What’s Not

In the US, regional banks continue to come under pressure after First Republic was offered $30 billion in deposits from 11 of the largest US banks. But that did little to assuage investors’ fears. The stock has fallen 72% this week.

Why Silicon Valley Burned

The contagion stems from the collapse of SVB, which was seized by the FDIC last week. The company officially declared bankruptcy on Friday, according to FOX Business, and its assets, as well as those of Signature Bank, also acquired by the regulator, could be in your hands.

In earnings news, Foot Locker will be reporting. Sporting goods stores are considered a good indicator of Nike’s performance. I will report on Tuesday.

Chinese President Xi Jinping is also scheduled to visit Russia. The date is unconfirmed, but the meeting could take place as early as this week.

Tuesday

The Federal Reserve will begin its meeting in what is expected to be a light trading move towards a decision on Wednesday’s interest rates.

Despite market turmoil, 62% of investors expect policymakers to continue raising rates, the ninth straight rate hike. 38% expect no change. CME Fedwatch.

Judy Shelton, an economist and senior fellow at the Independent Institute, argued for the Fed to pause in Friday’s interview on FOX business with Larry Kudrow.

Watch: Shelton Makes Kudlow Case for Fed Suspension

In other economic news, existing home sales will be announced at 10am ET.

Adobe will host its annual Investor Day at 2:30 PM ET.

The Supreme Court is expected to hear a discussion of the lawsuit involving Coinbase and arbitration regarding theft on the site.

Wednesday

Markets will be watching the Fed’s decision, scheduled for 2pm ET, followed by Chairman Jerome Powell’s press conference.

The S&P 500, the broadest index of equities, rose slightly this year.

In addition to inflationary conditions, last week’s banking crisis will be front and center for investors.

How closely the Federal Reserve Board (Fed) will need to be involved if more bailouts are needed, and oversight by banking officials under the jurisdiction of the Federal Reserve Bank of San Francisco, led by President Mary Daly. Questions remain as to how Silicon Valley Bank got away.

In earnings news, Petco, Chewy and KB Home will all be reporting.

Thursday

Red Lobster’s parent company Darden, Carnival Cruise Lines and General Mills are all expected to report results at the earnings call.

New housing sales data will be released. Last week ahead of major spring sales, the fortunes of 30-year fixed-commodity mortgages fell slightly to 6.6% he.

The housing market is about to enter the sweet spot

Richard Branson-founded Virgin Orbit may resume operations after announcing a cash-saving pause last week.

Richard Branson and crew experience weightlessness (Virgin Galactic)

Friday

As the week unfolds, durables go on sale on Friday. We also heard from St. Louis Federal Reserve Bank President James Bullard.

James Bullard, President and Chief Executive Officer of the Federal Reserve Bank of St. Louis. (Luke McGregor/Bloomberg/Getty Images via Getty Images)

Walmart is also expected to close its remaining stores within the Portland city limits due to poor financial performance, and rising crime may be a factor.

Walmart closes Portland store