Investors continued weighing the outlook for banks.
"There's a push-pull in the market right now," said Infrastructure Capital Advisors' CEO Jay Hatfield. "The regional banking crisis is a huge negative for the economy and the market. But the overhang that existed prior to the banking crisis was an overly hawkish and irrational Fed."
"Every Fed tightening cycle does expose a weakness in the economy," he added. "What we have here is a FDIC insurance debacle. We urge people to be a little bit cautious, particularly until we hear what the Fed has to say." Traders will watch out for the preliminary reading of the consumer sentiment index from the University of Michigan, as well as industrial and manufacturing production to get a better grasp on the economy ahead of the Fed's meeting next week.Major U.S. bank stocks fell on Friday, less than a day after joining forces to funnel $30 billion worth of deposits into
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