Market awaits Fed decision and Apple earnings amidst mixed stock movements.
JPMorgan Chase won an auction for First Republic Bank after US regulators took possession of First Republic. JPMorgan will get all of First Republic's $92 billion in deposits, $173 billion in loans and $30 billion in securities — for the price of about $10.6 billion, paid to the Federal Deposit Insurance Corporation. First Republic was the third bank to fall in the US, after Silicon Valley Bank and Signature Bank. The US commercial property sector might be next to face a crisis, according to Charlie Munger, vice chairman of Berkshire Hathaway.