![]() ![]() With Big Tech and bank earnings largely out of the way, investors are focusing on the Federal Reserve's next interest rate decision set to be announced Wednesday. Regulators pointed out flaws in the banks' management as well as in their own processes for overseeing them. ![]() Investors also digested two highly anticipated reports from federal regulators on the events that led up to the collapses of Silicon Valley Bank and Signature Bank. Meanwhile, shares of Snap fell 17% on Friday after the company reported its first quarterly sales decline since going public in 2017.Īmazon stock slid about 4% after the e-commerce giant reported a slowdown in its cloud business. Shares of the embattled lender are down 97% this year. Shares of First Republic dropped 43% on Friday, reaching record lows after reports swirled that the regional lender is likely headed for receivership by the FDIC. The S&P 500, Nasdaq Composite and Dow rose for the month, with the blue-chip index marking its best monthly gain since January.įor the week, the Dow gained 289 points, or 0.9%, the S&P 500 added 0.9% and the Nasdaq Composite ticked up 1.3%. Stocks rose for the second consecutive trading session and ended the week up as fears about the health of First Republic Bank continued to loom over Wall Street. People walk by the bronze sculpture 'Fearless Girl' outside of the New York Stock Exchange (NYSE) on April 21 in New York City. ![]()
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