Why you should care when a major bank stops buying its own stock

When companies have extra cash, they may use it to build facilities, hire employees or purchase their own stock. But JPMorgan reported disappointing financial results today and said it would suspend its stock buybacks, which some economists interpret as a Wall Street behemoth prepping for an impending recession. Plus, higher interest rates hit homebuilders, Shanghai businesses tally the COVID lockdown’s costs and schools get creative to address hiring headaches.