Opening Bell: 4.11.24

The Odds for a Summertime Rate Cut Are Dwindling [DealBook]
Merchants this morning have been pricing in lower than two price cuts for 2024 — down from greater than six at the beginning of the yr — presumably beginning in July. However even that’s trying tenuous after headline C.P.I. hit 3.5 p.c in March…. Economists are more and more questioning if the U.S. is heading for a “no touchdown” situation of persistently excessive inflation that ties the Fed’s fingers on charges. Thomas Barkin, the Richmond Fed president, summed up the robust spot policymakers have been in. “We have to be humble,” he mentioned yesterday.”>Banks Begin Reporting Earnings This Week. Right here’s What to Count on. [WSJ via Yahoo!]
“Concern of charges, recession and regulation have overtaken the fact of efficiency for financial institution shares,” mentioned Mike Mayo, the influential Wells Fargo analyst…. Losses on banks’ securities portfolios are additionally piling up.”>4 Paramount board members to step down amid talks to merge with Skydance [N.Y. Post via Yahoo!]
Paramount declined to touch upon the report that mentioned former Spotify govt Daybreak Ostroff, Sony Leisure ex-president Nicole Seligman,Redstone legal professional Rob Klieger and Frederick Terrell, a veteran funding banking govt, have been anticipated to step down in coming weeks…. The potential departures would cut back Paramount’s board to eight members.

DOJ opens formal investigation of US Steel takeover [Politico]
The opening of the antitrust probe has the potential to ripple by Japanese Prime Minister Fumio Kishida’s official White Home go to this week the place the power of the U.S.-Japan alliance is supposed to be on full show.

Apple’s Moderating Valuation Draws in Hedge Funds, JPMorgan Says [Bloomberg]
The Technology large’s shares have fallen 13% this yr, badly trailing the broader market. The corporate is grappling with weak gross sales in China and a Justice Division go well with accusing Apple of violating antitrust legal guidelines, taking purpose at its profitable companies enterprise. Shares edged greater on Thursday.

Top Crypto Exchanges Look to Move Beyond Settlements With U.S. Regulators [WSJ]
“From my perspective, you’re by no means performed with a compliance program,” [Coinbase global head of financial crime compliance Valerie-Leila] Jaber mentioned. 

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