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US stocks choppy ahead of Monday session; First-quarter bank earnings on deck
FOX Business Flash top headlines for April 8
Here are your FOX Business Flash top headlines for April 8.
U.S. stocks were choppy early Monday morning trading between negative and positive territory as first-quarter earnings season kicks off unofficially this week with several of the major banks reporting.
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Reporting this week are JPMorgan Chase and BlackRock on Wednesday, with Citigroup, Wells Fargo, Morgan Stanley, Goldman Sachs and a few others out on Thursday.
Wall Street's benchmark S&P 500 lost 0.3% on Friday after Fed officials indicated in notes from their last meeting they were considering raising its benchmark rate by double the normal amount at upcoming meetings. They also indicated they are likely to shrink the Fed's bond holdings, which also might push up commercial borrowing rates.
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Investors see "increasing evidence the Federal Reserve will take a more committed approach" to fighting inflation, said Stephen Innes of SPI Asset Management in a report.
On Friday, the S&P 500 declined to 4,488.28 while the Dow Jones Industrial Average rose 0.4% to 34,721.12. Tech stock weakness dragged the Nasdaq composite down 1.3% to 13,711.00.