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STOCK MARKET NEWS: First Republic on watch, Yellen vows banking support, Tesla’s China sales

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Stocks rebounding as Treasury secretary Janet Yellen offers banking support, First Republic remains on watch, Tesla’s China sales strong, Wall Street readies for quarterly earnings from Nike and GameStop. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.

is trying to raise more capital for First Republic Bank, The Wall Street Journal reported on Monday.

Trading of First Republic stock was paused after losing 37% of its value on Monday, but trading resumed in the early afternoon Eastern time, withCurrently, First Republic is trying to convert $30 billion in deposits from 11 different banks last week into a capital raise, said the WSJ report, which cited people familiar with the situation.

The WSJ also reported the banks may make an investment in First Republic as part of a capital injection.

 

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