Stock Market News Today: Fed Begins Monthly Reduction of Balance Sheet
"You better brace yourself. JPMorgan is bracing ourselves and we're going to be very conservative with our balance sheet," Jamie Dimon said.
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"You better brace yourself. JPMorgan is bracing ourselves and we're going to be very conservative with our balance sheet," Jamie Dimon said.
OPEC is considering excluding Russia from its supply count, which would pave the way for a boost in oil production and potentially a drop in prices.
Oil jumped to a two-month high after the EU agreed to ban most Russian imports and China eased COVID curbs.
First-quarter GDP was revised slightly lower, to a contraction of 1.5% from its initial reading of 1.4%, but retail sales were revised higher.
Ongoing recession worries have yet to show up in weekly jobless claims, which fell 8,000 in the week ending May 21 to 210,000.