Here are the top news investors need to start their trading day:
1. Markets are trying to bounce back
US stock indexes have had their worst week since March. Shares of regional banks rebounded and were strong Apple gains on Friday boosted the market and April jobs data performed better than expected despite recession fears. This week, the focus will be on monthly inflation data from the Federal Reserve raised interest rates again try to cool stubbornly high prices. The consumer price index comes on Wednesday, while the producer price index on Thursday. Inflation has started to ease and the central bank has indicated it may hold off on raising rates amid concerns about an economic slowdown and the health of the banking system. Follow live market updates.
2. Buffet dishes
Warren Buffett and his right-hand man Charlie Munger considered everything from regional banks to artificial intelligence during Berkshire HathawaySaturday’s annual meeting of shareholders. While Buffett he said he believes the banks may not be out of the woods just yet deposits are safe. The Oracle of Omaha said it also saw a slowdown in some Berkshire businesses. Conglomerate doesn’t plan take full control of the oil giant Occidental PetroleumBuffett said.
3. Debt ceiling drama
The coming days could prove crucial for efforts in Washington to raise the debt ceiling and prevent the first ever US sovereign debt default. President Joe Biden will meet with four top congressional leaders on Tuesday as lawmakers try to break a deadlock over how to raise the borrowing limit. Treasury Secretary Janet Yellen he warned Sunday that if Congress doesn’t act in the next few weeks, a “precipitous economic downturn” will follow. The Treasury Department estimates that the US could run out of money to pay its bills as early as June.
4. Growth of regions
Shares of regional banks It appeared to be rising for the second day in a row on Monday after the failure of the First Republic sent their shares tumbling earlier last week. The third failure of a regional bank since March has given the sector more scrutiny – and names like it PacWest Bancorp especially. Shares of the lender surged in premarket trading Monday after PacWest announced Friday night that it would cut its dividend. The bank’s rise helped fuel a broader rally in the sector SPDR S&P Regional Banking ETF advanced in pre-market trading.
5. Disney on board
Walt Disney will headline quarterly earnings expected this week. Further results will shed light on consumer health. Here is some news expected this week:
– CNBC’s Samantha Subin, Jeff Cox, Yun Li, Sarah Min, Tanaya Macheel, Alex Harring, Hakyung Kim, Christina Cheddar-Berk and Ashley Capoot contributed to this report.
— Track the broader market action like a pro CNBC Pro.