U.S. stocks pared early losses on Friday with the Dow turning mildly positive as investors scrutinized more economic data and Federal Reserve commentary following Thursday’s promising inflation report, as well Read more
Tag: Bank of America Corp.
Is the market bottom in? 5 reasons U.S. stocks could continue to suffer heading into next year.
With the S&P 500 holding above 4,000 and the CBOE Volatility Gauge, known as the “Vix” or Wall Street’s “fear gauge,” VIX, +0.74% having fallen to one of its lowest Read more
Elon Musk slashing jobs at Twitter to avoid $700M loss next year: sources
Elon Musk’s drastic decision to lay off half of Twitter’s workforce on Friday was driven by the company’s dire finances — with the now-private company on track to lose $700 million in Read more
Huntington Bancshares takes long view as other banks scramble on mortgages, auto loans and lower deposits
Huntington Bancshares Corp. stock rallied Friday as the financial-services company raised its outlook for net interest income above Wall Street estimates while acknowledging the economic headwinds that have been challenging Read more
Morgan Stanley evaluating job cuts, CEO says
Morgan Stanley CEO James Gorman said the marquee investment bank is studying potential job cuts as the latest big financial institution to look for ways to reduce costs headed into Read more
S&P 500 would be in an ‘earnings recession’ if not for this one booming sector — but that may not last long
Fears of an actual recession are weighing on investors near the end of 2022, but there is another type of recession also in sight: an earnings recession. The S&P 500 Read more
JPMorgan, Citi, Morgan Stanley and Wells Fargo kick off bank earnings season in choppy waters
JP Morgan Chase & Co., Citigroup Inc., Wells Fargo & Co. and Morgan Stanley kick off the third-quarter bank earnings reporting season on Friday, Oct. 14 amid some of the Read more
Banks dial up risk-taking in OTC derivatives trades by using many of the same non-bank counterparties, a study says
A working paper on counterparty choice by major banks in the $12.4 trillion over-the-counter derivatives market offers evidence of systemic risk propagation in bank networks through non-bank counterparties in “opaque” Read more
Fed official suggests easing of big-bank merger rules as competition from fintech increases
The U.S. Federal Reserve Board should consider relaxing bank-merger guidelines focused on branch concentration, last updated in 1995, to account for competition from financial technology companies, Michelle Bowman, a governor Read more