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  • Dec 24, 2024

Banks Sue Fed in Challenge to How Stress Tests Are Conducted

(Bloomberg Law) -- The Federal Reserve doesn’t allow for appropriate public input when designing bank stress tests, bank trade groups said in a lawsuit seeking to force the central bank to open the design of the tests to public comment.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayThe suit, filed Tuesday in the US District Court for the Southern District of Ohio, doesn’t seek to eliminate the annual stress testing and capital planning requirements that have

  • Dec 24, 2024

Big banks, business groups sue US Fed over annual stress tests

(Reuters) -Major banks and business groups sued the Federal Reserve on Tuesday, alleging the U.S. central bank's annual "stress tests" of Wall Street firms violate the law. The lawsuit filed in U.S. District Court in Columbus, Ohio, claims the Fed's practice of determining how big banks perform against hypothetical economic turmoil, and assigning capital requirements accordingly, do not follow proper administrative procedure. Plaintiffs included the Bank Policy Institute, the U.S. Chamber of Commerce and the American Bank Association.

  • Dec 24, 2024

Investors Aggressively Bought Stocks, ETFs In Volatile Fed Week: Bank Of America Reveals Largest Inflows Since 2017

Despite a week of market chaos sparked by the Federal Reserve's hawkish stance, Bank of America clients leaned into risk, driving massive inflows into equities and exchange traded funds. Data released Tuesday shows that BofA clients poured nearly $10 billion into U.S. assets — the second-largest inflow on record since 2008 and the biggest since January 2017. Jill Carey Hall, a Bank of America analyst, highlighted a streak of seven consecutive weeks of inflows and said that, as in the previous fi

  • Dec 24, 2024

US Listed Chinese Stocks Gain on Stimulus Plans to Counter US Tariff Risks

U.S.-listed Chinese stocks Alibaba Group Holding (NYSE:BABA), JD.com, Inc (NASDAQ:JD), PDD Holdings Inc (NASDAQ:PDD), Baidu, Inc (NASDAQ:BIDU), NIO Inc (NYSE:NIO), Li Auto Inc (NASDAQ:LI), XPeng Inc (NYSE:XPEV) are trading higher Tuesday amid reports indicating China’s stimulus plans to deter potential U.S. tariffs. Chinese e-commerce juggernaut Alibaba is considered the barometer for China’s tech sector. Reuters cites familiar sources as saying Chinese authorities plan to issue 3 trillion yuan

  • Dec 24, 2024

Wall Street rises in quiet Christmas Eve trading session

Wall Street's main indexes rose on Tuesday in a truncated trading session before Christmas, with the S&P 500 and the Nasdaq up for the third consecutive day, helped by gains in a handful of megacap and growth stocks. Broadcom and Nvidia provided the biggest boost to the indexes, advancing 2.7% and 0.7%, respectively, while Consumer Discretionary and Technology led gains among S&P 500 sectors. At 09:42 a.m. the Dow Jones Industrial Average rose 32.38 points, or 0.08%, to 42,939.33, the S&P 500 gained 21.68 points, or 0.36%, to 5,995.75, and the Nasdaq Composite gained 116.55 points, or 0.59%, to 19,881.43.

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