The Latest Breaking News on JPMorgan (JPM) and Wells Fargo (WFC): A Look at the Road Ahead for These Banking Giants

For a week that was filled with news and earnings, the market failed to react in any major fashion. The S&P 500 ($SPX) (SPY) finished the week 0.80% lower. Watching the Goliath Apple (AAPL) report better-than-expected earnings helped to buoy the market along with a stronger-than-expected NFP report.

Economists warn that two more US banks are on the verge of collapse after the Federal Reserve lifted its key interest rates by 0.25% this week, prompting stock prices of American lenders to drop sharply after the hike.

Despite the recent banking crisis, the federal regulators have assured that the banking system is strong. However, the tightening of credit standards remains a concern. Investors could look to buy banking stocks Community Financial (TCFC) and Hanover Bancorp (HNVR), which look undervalued at current prices. Keep reading.

The ABA called for a probe into short sellers profiting off the bank crisis. Sen. Warren wants answers from First Republic executives.