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The 2:59 PM Trade
It's Friday afternoon, 2:59 pm. Most traders are clocking out. But legendary Millionaire trader Tim Sykes is about to cash in on a strange weekend "loophole."
He's used this exact method to make $8,780... $9,518... and even $16,159 over the weekend. But today, he wants to show YOU how to do it too.
By David French NEW YORK (Reuters) – Some U.S. regional banks’ efforts to raise capital and allay fears about their health are running up against concerns from potential buyers and investors about looming losses in their assets, five sources with knowledge of the discussions said. First Republic Bank and PacWest Bancorp are among the banks…
(Reuters) – Pacific Western Bank, a unit of PacWest Bankcorp, said on Friday it had witnessed ‘elevated’ withdrawals following the collapses of Silicon Valley Bank and Signature Bank, but deposit movements had stabilized since Monday. The Los Angeles-based bank gave no details on the sum of the withdrawals but said they were mainly from its…
By Nell Mackenzie, Carolina Mandl and Summer Zhen LONDON (Reuters) – Hedge funds are watching growing U.S.-Chinese geopolitical tensions and have spotted ways to trade them. U.S. authorities on Thursday told TikTok’s Chinese owners to divest their stakes in the popular video app or face a possible U.S. ban, Reuters reported. Britain, this week, described…
By Nell Mackenzie and Pablo Mayo Cerqueiro LONDON (Reuters) -Investment managers Bridgewater Associates, Millennium Management and Marshall Wace added to short positions on European banking shares after the collapse of Silicon Valley Bank sparked contagion fears across global banks, according to data from Breakout Point. Hedge funds including Citadel, Wellington Management, Capital Fund Management and…
By Noele Illien, John Revill and Tom Sims (Reuters) – Swiss regulators pledged a liquidity lifeline to Credit Suisse in an unprecedented move by a central bank after the flagship Swiss lender’s shares tumbled as much as 30% on Wednesday. In a joint statement, the Swiss financial regulator FINMA and the nation’s central bank sought…
By Hannah Lang (Reuters) – The U.S. consumer finance watchdog launched an inquiry on Wednesday to examine companies that track and collect personal data, requesting public feedback about the business models and practices data brokers use. The U.S. Consumer Financial Protection Bureau’s request for information marks the latest move from the regulator to explore how…
(Reuters) – Short sellers may have raked in $2.29 billion in profit in the past three sessions, as they took advantage of a selloff in regional bank shares following the collapse of SVB Financial Group and Signature Bank, S3 Partners said. The S&P 500 regional banks index is down about 18% since Friday when the…
By Chris Taylor NEW YORK (Reuters) – When financial planner Larry Pon started reading about the SECURE 2.0 Act that overhauls retirement saving, he was shocked at the provision about college funds. “Hey, this applies to me!” the certified public accountant from Redwood Shores, California, said. The new legislation lets savers roll over unused funds…
By Nell Mackenzie LONDON (Reuters) – Hedge funds ended last week positioned to scoop up winning profits from bearish positions on bank stock falls, according to a note by Goldman Sachs sent to clients late on Sunday. They sold financially themed shares and banks for nine straight weeks but rather than only exiting long positions,…
By David French, Echo Wang and Alun John (Reuters) – Startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis on Friday, in a sudden collapse that roiled global markets, left billions of dollars belonging to companies and investors stranded. California banking regulators closed the bank, which did business…
