STOCK RALLY ON BOLD GOVERNMENT BANK RESCUE FIZZLES ON FIRST REPUBLIC PRICE ACTION
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Bold Government Bank Rescue Plan
Please click here for a chart of First Republic Bank stock (FRC).
Note the following:
- The Morning Capsule is about the big picture and not an individual stock. The chart of First Republic Bank (FRC) is being used as it is the leading cause of the reversal in the stock market.
- On Sunday, the government announced a bold bank rescue plan.
- Effectively, for the time being, bank deposits are insured for an unlimited amount even though the official limit still stays at $250K.
March 13, 2023