Markets

First Citizens Bank is reportedly nearing a deal to acquire the failed Silicon Valley Bank through an auction held by the Federal Deposit Insurance Corporation.

Federal authorities are reportedly considering an expansion of the Federal Reserve's emergency lending program to help banks like First Republic Bank shore up their balance sheet.

Speaker of the House Kevin McCarthy, R-Calif., said that Congress will move forward with legislation on TikTok to "protect Americans from the technological tentacles of the Chinese Communist Party."

Banking turmoil will be the focus of hearings in the coming week as investors monitor the future of firms including First Republic while also digesting home price and inflation data.

Apple CEO Tim Cook received applause from the audience as he gave an upbeat speech at a tech conference in Beijing sponsored by the Chinese government.

Rep. Alexandria Ocasio-Cortez was blasted for opposing a TikTok ban given Chinese parent company ByteDance's six figure donation to the Congressional Hispanic Caucus Foundation.

Rep. Alexandria Ocasio-Cortez, D-N.Y., said in her first TikTok video shared Saturday that she opposed a ban of the Chinese owned platform, downplaying national security concerns.

Cracker Barrel, citing the coronavirus pandemic, announced this week that is becoming the latest company to move its operations out of the state of Oregon.

Valley National Bank and First Citizens BancShares have reportedly submitted bids for the failed Silicon Valley Bank following it's collapse earlier this month.

The International Monetary Fund has issued a warning that the risks to financial stability are rising.

Michigan has become the first state in decades to repeal a "right-to-work" law. Gov. Gretchen Whitmer, a Democrat, signed the legislation on Friday to praise from President Biden.

Over three-quarters of Americans expressed a lack of confidence their children's lives will be better compared to theirs, a Wall Street Journal-NORC poll showed.

Many U.S. millennials and Gen Zers expressed a willingness to spend more for better movie seats, while older generations were less likely to do so, according to a survey.

Demand for home buying has been "steady" as mortgage rates continue to slip. Mortgage rates fell for the second week to 6.42%, according to Freddie Mac, after the Federal Reserve said it would modestly hike rates.

American Airlines is cutting flights now so because of expected delays in the delivery of Boeing 787 Dreamliners, crucial for the transatlantic route.

Gas prices decreased this week to $3.49 per gallon, AAA reported. And prices could hold steady as the price of oil remains low, despite a rise in demand for gas.

Data compiled by Investment Company Institute shows market fund assets ballooned to $5.13 trillion for the week ending on Wednesday, March 22, amid the banking crisis.