Wall St rebounds on report First Republic in deal talks with big banks

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By Shubham Batra and Amruta Khandekar (Reuters) – Wall Street’s main indexes reversed declines on Thursday after a report said some U.S. big banks were in talks with First Republic Bank for a potential deal, while comments from Treasury Secretary Janet Yellen also boosted investor sentiment. The report follows a 50 basis point rate hike by the European Central Bank which earlier in the day had dampened investor sentiment already hurt by fears of a banking crisis. The Wall Street Journal report said JP Morgan Chase & Co and Morgan Stanley were among banks in deal talks with First Republic Bank …

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