Stocks Choppy as Big Bank Earnings Fail to Impress; Oil Prices Spike on Yemen Airstrikes
• Stocks fluctuated as big bank earnings failed to lift hopes for a robust quarterly season; oil prices jumped after US airstrikes against Yemen's Houthi rebels
• Citigroup revealed plans to cut 20,000 jobs by 2026 as part of a major restructuring under CEO Jane Fraser
• Oil prices rose 2% on news of US-led airstrikes against Houthi rebels in Yemen, heightening Middle East tensions
• JPMorgan and BlackRock reported strong Q4 results, with the latter surpassing $10 trillion in assets under management
• Jamie Dimon warned higher rates and stickier inflation still pose economic risks amid "unprecedented forces" like quantitative tightening