The IPO market has been lackluster this year, but can it make a comeback?

And a Wall Street Journal investigation unveils a toxic atmosphere at the FDIC. What really came across... investigation by the FDIC and that distracted people from their jobs at times.

Plus Israel and the US warn of the prospect of a wider war in the Middle East.

It's Monday, November 13th.

I'm Anne Marie Fertoli for the Wall Street Journal.

This is the PM edition of What's News,

the top headlines and business stories that moved the world today. The IPO market has seen a lot of ups and downs this year.

This fall things were looking up after four big companies made their stock market

debuts chip designer arm grocery delivery company insta carte e-commerce

marketing company clavio and German shoemaker burkin stock but now all of them, except Arm, are trading below their IPO prices.

So where does that leave the market?

Joining me now with more is Wall Street Journal reporter, Corey Dreebush.

Corey, why has the IPO market been slowing?

So the IPO market has been in a bit of a frozen zone

for almost two years now, except that in 2023 there were some signs of

thawing. We really froze up the IPO market in late 2021 and early 2022 was when the Federal Reserve started raising rates.

As that was all happening and there was a shifting in people's portfolios,

people started selling riskier stocks, buying safer, maybe bonds

or money market funds, there were no IPOs.

And in 2023, as there seemed to be a feeling, oh, maybe this rate raising has plateaued.

Maybe we can see some more IPOs happening.

And yet, here we are at the end of the year and once again we're back to a really quiet IPO market.

...