Robert Conzo News Today

STORY: Wall Streets main indexes plummeted on Friday, capping a week marked by hotter-than-expected inflation and jobs data that forced investors to reset expectations for the timing of interest rate... -April 12, 2024 at 06:08 pm EDT - MarketScreener

STORY: U.S. stocks closed higher on Thursday as investors hoped data showing a retail sales slump might compel the Federal Reserve to start cutting interest rates in the coming months.

A hot reading on inflation means interest rates will stay higher for a little longer.

Investors should forget the "Magnificent Seven" stocks that have accounted for the market's gains this year, Robert Conzo told Reuters.

Investors should forget the "Magnificent Seven" stocks that have accounted for the market's gains this year, Robert Conzo told Reuters.

Inflation continued to ease last month, the CPI report showed, paving the way for the Fed to pause in its campaign of rate hikes.

The deposit slump overshadowed profits that beat expectations for the beleaguered lender, which was shored up through an injection of deposits by larger US banks last month after the collapse of two US regional lenders.

By Mehnaz Yasmin (Reuters) -First Republic Bank shares sank more than 20% after the closing bell on Monday after the lender said deposits plunged by more than $100 billion in the first quarter and it

First Republic Bank plans to slash expenses by cutting executive compensation, paring back office space, and laying off nearly 20% to 25% of employees in the second quarter

First Republic Bank shares sank more than 20% after the closing bell on Monday as it said deposits plunged by more than $100 billion in the first quarter and it was exploring options such as restructuring its balance sheet.