Stocks Choppy as Bank Earnings Disappoint and Inflation Cools; Oil Jumps on Yemen Strikes
• Stocks fluctuated as big bank earnings failed to impress and wholesale inflation cooled • Oil prices jumped over 2% on news of US airstrikes against Houthi rebels in Yemen • Citigroup announced plans to cut 20,000 jobs by 2026 as part of a major restructuring • JPMorgan CEO Jamie Dimon warned inflation could remain high and rates may rise more than expected • BlackRock topped $10 trillion in assets under management for the first time in 2 years