Stocks are coming off a winning week and month.
, under pressure from deposit flight in the wake of Silicon Valley Bank's collapse. JPMorgan Chase and PNC are among the likely bidders.in the first quarter, triggering further declines in the already struggling stock. Shares have cratered 97% since the start of the year.
In other news, investors anxiously await the latest rate hike decision from the Federal Reserve, due out Wednesday at the conclusion of the central bank's policy meeting. As of Sunday evening, about 79% of traders anticipate a 25 basis point rate hike, according totool. Wall Street will closely monitor remarks from Fed Chair Jerome Powell, offering clues into the central bank's forward policy path.
Monday kicks off another busy week for earnings, with results from Norwegian Cruise Line and MGM Resorts. Reports from Pfizer, Starbucks Advanced Micro Devices and CVS Health are due out later in the week. On the economic front, Wall Street awaits ISM manufacturing data, construction spending and S&P Global manufacturing PMI on Monday. April's nonfarm payrolls report is on deck Friday.Just four technology stocks account for 60% of the S&P 500's 8.6% gain so far in 2023,
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