renewed concerns about the banking system appear to weigh on stocks as the major index futures point to a sharply lower opening on friday contagion fears have continued to weigh on banking stocks in europe and the worries could aggravate following a spike in german financial services giant deutsche bank ags db credit default swaps spiked stocks experienced some volatility on thursday with the major averages opening higher and rising until late morning trading the indices trimmed their gains and dropped to their intraday lows by late trading with the dow industrials and the sp 500 indices moving below the unchanged line while the nasdaq composite stayed in the green see also best futures brokers a latesession buying surge lifted the stocks helping the averages recover and end uniformly higher the gains came amid a decline in bond yields following the paring of rate hike expectations communications services and technology stocks led from the front while energy and utility stocks came under selling pressure the market appears to be telling that we will get through the banking crisis said brad mcmillan chief investment officer at commonwealth financial network “with all the turmoil and headlines the system is working as it should to contain the damage” he said the analyst noted that banks on the whole are wellcapitalized and the government has the tools and will to solve problems “keep calm and carry on” he added in premarket trading on friday the spdr sp 500 etf trust spy fell 068 to 39050 and the invesco qqq trust qqq moved down 032 to 30877 according to benzinga pro data the commerce department will release its durables goods orders report for february at 830 am edt economists expect a 12 monthovermonth increase in durable goods orders and a 02 upside in orders for core durable goods which exclude the volatile transportation orders in january the monthly rate of changes in durable and core durable orders were at a negative 45 and a positive 08 respectively fomc member and chicago fed president james bullard is scheduled to speak at 930 am edt sp global will release its manufacturing services and composite purchasing managers’ indices for the us at 945 am edt the consensus call for continued contraction in the manufacturing sector with the corresponding pmi expected to edge down from 473 in february to 47 in march the services sector pmi is widely expected to remain largely unchanged at 505   block inc shares could fall for a third straight session with the stock dropping over 460 in premarket trading on thursday the stock slumped about 15 after it got called up by shortseller hindenburg   deutsche bank fell close to 10 after the spikr in its credit default swaps the financial space saw renewed weakness with first republic bank falling over 3 and bank of america corp slipping over 2   block atlantic equities downgrades from overweight to neural and lowers price target from 95 to 70   meta platforms inc  barclays maintains at overweight and raises price target from 260 to 270   regeneron pharmaceuticals inc  jefferies upgrades from hold to buy and increases price target from 675 to 925 raymond james upgrades from underperform to market perform crude oil futures were plunging on friday with a barrel of wtigrade crude oil down 367 to 6741 the benchmark 10year treasury yield which fell to 3404 on thursday has retreated to 3302 down 0102 points the major asian markets ended friday’s session mostly lower unimpressed by the lackadaisical recovery staged by wall street overnight european stocks plunged hard in latemorning trading as the banking crisis continue to play out after credit suisse ag cs was rescued by a merger with ubs group ag ag investors were apparently concerned about the troubles at other regional banking giants this has sent the financial stocks in the region sharply lower which in turn has exerted pressure on the broader market read next elon musk responds to bill ackmans plea to powell for a pause amid banking crisis fed needs to drop rates by at least…