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The major indexes were flat to start the week as investors considered JPMorgan Chase’s takeover of First Republic Bank.

First Republic cratered last week, falling over 70% when it reported earnings, revealing that deposits dropped more than 40% in the first quarter.

JPMorgan Chase & Co. (NYSE: JPM) rose 4% during premarket trading on news that it will acquire First Republic’s deposits and most of its assets.

Allianz Chief Economic Advisor Mohamed El-Erian said this move “is changing the narrative on big banks. Big banks are no longer viewed as a source of systemic risk. They’re viewed as stabilizers.”

In this morning’s stock market recap video, I’ll discuss whether the Nasdaq is going higher or has topped out… how to monitor the bond market this week… which sectors remain extremely vulnerable headed into the upcoming Federal Open Market Committee meeting (the rate announcement will be at 2 p.m. ET on Wednesday)… how I feel about buying bank stocks right now… if the Dow is set to rally or consolidate… plus the biggest earnings plays for the week ahead!

Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!

P.S. Live Webinar: Unveiling the Hidden Stock Calendar with Jack Carter

There have been a lot of ups and downs in the stock market lately… And if you’re like most traders, you’re tired of it!

Well, my friend and fellow trader Jack Carter has something exciting to share that could be a game-changer during difficult market conditions like these…

It’s a hidden stock “calendar” that he recently discovered.

And he’s preparing to go live at 1 p.m. ET today, May 1, to reveal the calendar and 10 potential trades it’s highlighting right now!

Save Your Seat for Jack’s Presentation

P.P.S. When it comes to trading, every second counts. And in choppy markets like these, often driven by headlines, stocks can make big moves in a flash.

That’s why I want you to get my latest trading ideas and market updates as fast as possible. So I’m rolling out an all-new option for my students to receive trade alerts with Telegram!

Telegram allows me to get trade ideas, videos and watchlists to you in a matter of seconds.

Check out this short article we put together with instructions on how to download telegram and access my private channel. Go here to get the details. 

To kick off the week, each Monday video will outline my weekly outlook and any actionable announcements, news or catalysts I’m watching. I’ll also outline exactly which opportunities I expect to unfold in the coming five trading days, so check out this short video for more information!

Need help understanding some basics that we discuss frequently? Check out some of our educational pieces to help get yourself up to speed! Have a question or a topic you’d like us to explain in a future article? Send your thoughts to [email protected]!

Check back each morning for the Roger Scott newsletter and the most important news and numbers in the WealthPress stock market recap.