Jamie Dimon is filed for JPMorgan Chase’s role in Epstein lawsuits

Jamie Dimon is filed for JPMorgan Chase’s role in Epstein lawsuits

Jamie Dimon, the veteran CEO and chairman of JPMorgan Chase, will be removed over his bank’s ties to disgraced former financier Jeffrey Epstein, according to a person with knowledge of the matter. Dimon has agreed to be questioned under oath, at an unspecified date in the future, for two civil lawsuits related to convicted sex … Read more

62% of Americans are living paycheck to paycheck amid inflation

While the cost of living remains high, 62% of Americans now say they are living paycheck to paycheck, according to a recent report. More and more people have found a side hustle to make ends meet, according to the report. It’s also a good time to make some key changes to your spending and saving … Read more

DoubleLine’s Jeffrey Gundlach reveals his business strategy in this tricky market

DoubleLine Capital CEO Jeffrey Gundlach said the best way to navigate the extreme volatility in financial markets right now is to sell into market rallies, especially when the S&P 500 hits a certain level. “The optimal strategy is to de-risk on strength,” Gundlach said on CNBC’s “Closing Bell” on Monday. “The markets are so volatile, … Read more

Watch out for these debt-heavy stocks like F, CVNA, WBA as borrowing costs rise

As the cost of borrowing rises, investors should avoid companies that have a lot of debt on their balance sheets, Evercore ISI warned in a note on Sunday. Borrowing costs have risen since the Federal Reserve began raising interest rates last year in an effort to control inflation. Then the banking crisis hit earlier this … Read more

The First Republic rebounds 25% on Monday to lead the return of regional banks

Bloomberg News reported on Saturday that U.S. officials are considering expanding federal programs that provide banks with liquidity, in part to help the First Republic while it searches for a buyer. CNBC reported on Saturday that deposit inflows to big banks from smaller regions have slowed significantly. Regional bank stocks have come under significant pressure … Read more

5 things to know before the stock market opens on Monday March 27

Market bulls are looking to build momentum. The UAW election heralds tough union negotiations for the auto giants. Israel is erupting into chaos over controversial judicial reforms. A specialist trader works inside a booth on the floor of the New York Stock Exchange (NYSE) in New York, March 23, 2023. Brendan McDermid | Reuters Here … Read more

Bitcoin’s March rally could run out of steam. Here’s where investors see it going from here

Bitcoin held on to new highs this week and saw the biggest inflows of the year, but the rally could wane, investors say. The largest cryptocurrency by market capitalization ended the week up 3.9% at $27,887, according to Coin Metrics, despite a brief dip after the Federal Reserve meeting. Coin Metrics measures a week in … Read more

Flight of deposits from small banks to JPM, WFC, C slowed

The surge in deposits moving from small banks to large institutions, including JPMorgan Chase and Wells Fargo, has slowed to a trickle in recent days, CNBC has learned. Deposit flight, which has rocked global markets and forced regulators to intervene to protect bank customers, began to improve around March 16, people with knowledge of the … Read more

Market reaction to Fed rate hike ‘almost always red herring’

CNBC’s Jim Cramer said Friday that this week was the latest example of the market going crazy after a Federal Reserve meeting. But based on past market reactions to previous central bank rate hikes, this week’s activity may prove insignificant in the long run. The initial reaction to Fed decisions is “almost always a false … Read more

Banks step up use of new Fed facility created during crisis

Institutions borrowed $53.7 billion from the banks’ term funding program on Wednesday, up sharply from $11.9 billion last week. Another category of loans issued primarily to shuttered banks to meet depositor obligations and other expenses also surged. These borrowings jumped to $179.8 billion from $142.8 billion last week. The new bank financing program was introduced … Read more