Very first Republic jumps 15%, leads comeback rally in regional financial institutions Tuesday

Important Points

CNBC’s David Faber noted Monday that JPMorgan Chase is providing advice on possibilities to the San Francisco bank that is drawn the attention of Wall Street for its massive amount of money of uninsured deposits.
Also encouraging sentiment was a report by Bloomberg Information that the Treasury Office is researching regardless of whether regulators can temporarily insure deposits above the latest FDIC cap without acceptance of Congress.

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Finance

Steve Cohen says stocks could retest their April lows, sees a 45% chance of recession

May 14, 2025

Steve Cohen said Wednesday he sees the possibility that stocks could retest their lows from April following the market’s dramatic comeback. “I don’t expect, you know, a significant decline. I think this is possible we can go back toward the lows which is 10%, 15% [from here] so it’s not a calamity,” the founder of […]

Finance

Warren Buffett tells WSJ he stepped aside as CEO after finally feeling old

May 14, 2025

Warren Buffett does a walkthrough of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, on May 3, 2025. David A. Grogen | CNBC Age isn’t just a number for Warren Buffett after all. The 94-year-old investment legend recently surprised shareholders by announcing his intention to step down as Berkshire Hathaway CEO after an epic […]

Finance

New York AG sues Capital One after Trump-led CFPB drops similar case

May 14, 2025

Key Points New York Attorney General Letitia James sued Capital One on Wednesday, accusing the bank of “cheating” customers out of millions of dollars in interest payments. The suit mimics litigation by the CFPB, which was dropped in February under the Trump administration. “Big banks are not allowed to cheat their customers with false advertising […]