Here are the most important news items that investors need to start their trading day.
Its shares are down more than 90% so far this year after another brutal session Wednesday, as it appears investors aren't too confident in the bank's ability to shore up a rescue plan. After CNBC banking reporter Hugh Son reported that First Republic's advisors were trying to convince a group of big banks to bail it out, again, CNBC anchor David Faber said government officials aren't willing to help in any rescue efforts at the moment.
. Will Thursday bring more losses? So far, shares have been relatively stable in extended trading before the open.Joe Burbank | Orlando Sentinel | Getty Images Florida Gov. Ron DeSantis is reportedly preparing to run for president, with an announcement expected in May. But he isn't just going to be tangling with Donald Trump for the GOP nomination in the near future. DeSantis and's war, which started last year after the Mouse House criticized Florida Republicans' so-called "Don't Say Gay" bill, escalated Wednesday. The governor's hand-picked Disney resort oversight board voted to override a development deal struck by a separate board allied with the company. Disney rapidlyand his allies, alleging political retribution. "There is no room for disagreement about what happened here: Disney expressed its opinion on state legislation and was then punished by the State for doing so," the company's suit reads. DeSantis' office fired back: "This lawsuit is yet another unfortunate example of their hope to undermine the will of the Florida voters and operate outside the bounds of the law."House Speaker Kevin McCarthy walks following a closed door meeting on Captiol Hill in Washington, April 26, 2023.It took a lot of horse trading among his fellow Republicans, but House Speaker Kevin McCarthy got his. Granted, he did so with the thinnest of margins. Four Republicans voted with Democrats against the bill, making the tally a mere 217-215. The measure, which calls for broad spending cuts in return for raising the debt limit for about a year, is almost certainly going nowhere in the Democratic-controlled Senate. But it is a gambit to coax President Joe Biden to the negotiating table, as he has refused to compromise over raising the debt limit. McCarthy's bill hasn't moved the needle, though. "The President has been clear that he will not accept such attempts at hostage-taking. House Republicans must take default off the table and address the debt limit without demands and conditions," the White House said Wednesday. – CNBC's Hakyung Kim, Jonathan Vanian, Jesse Pound, Kevin Breuninger and Christina Wilkie contributed to this report.
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