The s p hitting another record high yesterday. The 16th of this year. The s p futures indicated up 12. Dow futures indicated up 27. Nasdaq futures are indicated up, too. This comes after gains for the s p and nasdaq of more than 1 . Pushing both indexes to record highs. Dow closing higher. It was up 130 points yesterday. A lot of this came after what we heard from jay powell. He was speaking again before congress and yesterday he said this is key. Yardeni pointed this out. Powell said we are waiting to become more confident that inflation is moving sustainably at 2 . It will be appropriate to dial back the level of restrictions. That is what the market heard. Not far from it. As a result, you saw treasury yields pull back. The tenyear yield at 4. 07 . The twoyear yield at 4. 49 . It is interesting because it is all based on inflation. We havent even any definitive proof that the economy is going to fall off a cliff. Maybe we can get that today. Maybe he knows something. When he said we
Disadvantage to the company overall. People dont forget. Cheryl thats the problem. People will not forget that. Youre advertising during the nfl draft. Youre going to get a can because a guy decides to be a girl. What did you actually do . That turns people off as well. Cheryl get back to business, businesses. Chris and krisha, stay right there. The next hour of mornings with maria starts right now. Cheryl and its time for the word on wall street, top investors watching your money. Joining me now, michael lee strategy founder, michael lee, and market strategist, Katherine Rooney vera. Mike, want to start with you, the big news this morning obviously on a monday, regulators just a couple hours ago seizing First Republic bank, agreeing to sell to jp morgan. Jp morgan will assume all of First Republics deposits and buy most of its assets. First republic is the second largest failure in u. S. History as far as banks go. The stock halted in the premarket, down almost 46 . I spoke to Odeon C
Hello this week on the wall street journal at large, there is another bank falls and dark clouds in circles, divided the administrations of the Financial System is in good shape. The inflation high Interest Rates rising who are you going to believe them or your lying eyes a closer look with my guest at the turmoil in the u. S. Financial system with other escalating and troubling times of financial stress, first have you ever been in a situation from somebody insisting everything is fine but the more that they tell you not to worry the more alarmed you get like an Airline Pilot casually telling passengers a fire in the right engine is complete the under control the man fixing the roof insisting the cascade of rainwater in your bedroom is nothing to worry about, divided the administrations but did a lot of time assuring us that the market Financial System is totally safe and sound. Experience tells us when people have a track record of incompetence tell you not to panic that usually mean
SVB Was the Second Largest Bank Failure in US History What Happened? During a meeting in March 2023, Stefan Kalb, CEO and co-founder of Shelf Engine, a…