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The Zions Bank headquarters in Salt Lake City, Utah, US, on Monday, July 10, 2023. Kim Raff | Bloomberg | Getty Images
This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Here are five key things investors need to know to start the trading day:
1. On the banks
Following the discovery of a handful of bad loans from banks, Wall Street has been on the hunt for any other signs of risk in the sector. The regional bank selloff last week overshadowed earnings reports from many major financial institutions. Here's what to know: Following the panic, investors have zeroed in on loans made by banks to a non-depository financial institutions, known as NDFIs. While banks themselves don't make this type of borrowing agreement, they often fund them.
Zions shed $1 billion in valuation in Thursday's session alone. While shares were able to make up ground on Friday, the stock ended the week down more than 5%.
shed $1 billion in valuation in Thursday's session alone. While shares were able to make up ground on Friday, the stock ended the week down more than 5%. The lending concerns brought flashbacks to 2023's regional banking crisis sparked by the failure of Silicon Valley Bank.
Other regional bank stocks also struggled amid the shakeup, with the SPDR S&P Regional Banking ETF (KRE)
The three major indexes were still able to notch gains last week. Follow live markets updates here.
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