12 May 2023
US Markets Wrap: Straight from the NYSE - Rate expectations, regional banking action & investor confidence levels
Stocks ended the day mixed, while Treasuries rallied.
Investors came off a fourth straight losing session for the Dow Jones Industrial Average which slid more than 200 points. Stocks were weighed down by Disney’s decline a day after it reported poor subscriber numbers. The regional banking sector also saw stress after PacWest Bancorp reported a drop in deposits exacerbated investors’ sentiment.
Jay Woods, Chartered Market Technician & Chief Global Strategist at Freedom Capital Markets shares insights on what's changed in the banking sector, whether regulatory action is needed before confidence returns to the sector and his expectations on rate changes in coming days.
Presenter: Ryan Huang

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Producer: Yeo Kai Ting (ykaiting@sph.com.sg)