Wake Up Wall Street: Trump Considers Breaking Up Big Banks

Trump suggested he could split their consumer businesses from investment operations

Author:: TheStreet Staff
Publish date:: May 2, 2017 5:41 AM EDT

This is what you need to know before the opening bell:

1. President Donald Trump has said he is considering breaking up the big Wall Street banks, signalling a possible revival of the Glass-Steagall Act. The president's plan, which he is yet to lay out in great detail, would seek to split the consumer business and investment operations of banks.

2. There is concern that OPEC production cuts may not address oversupply issues. OPEC members had previously agreed to remove 1.8 million barrels per day from the market in the first half of 2017.

3. Infosys (INFY) - Get Report will hire 10,000 U.S. workers in the next two years and open four technology centers in the U.S. The announcement came amid a push by U.S. President Donald Trump to hire more domestic workers in the tech sector.

4. Earning reports are expected from top-end healthcare companies, including Pfizer Inc. (PFE) - Get Report , Merck & Co (MRK) - Get Report and Gilead Sciences (GLD) - Get Report

This article was written by a staff member of TheStreet.