US Banks Sound Alarm On Lower-Income Struggles Before Election
Major U.S. banks have cautioned in their second-quarter results that lower-income customers are experiencing financial strain just months ahead of the presidential election.JPMorgan Chase & Co. (NYSE:
Financial Stocks Deliver Profits in Q2 Amid Rebound in Investments - Earnings Scorecard
A Quick Look at Today's Ratings for JPMorgan(JPM.US), With a Forecast Between $211 to $224
On Jul 13, major Wall Street analysts update their ratings for $JPMorgan(JPM.US)$, with price targets ranging from $211 to $224.Goldman Sachs analyst Richard Ramsden maintains with a buy rating, and
Rate Cuts Could Make Things Worse for Banks Before They Help -- Heard on the Street -- WSJ
By Telis Demos With the Federal Reserve poised to begin cutting interest rates, banks stand to benefit. But not right away. High interest rates have started to wear on the biggest banks, with
JPMorgan Chase (NYSE:JPM) Shareholders Have Earned a 16% CAGR Over the Last Five Years
Bitcoin ETF saw the largest weekly inflow since May with a net inflow of $0.882 billion.
After the price of the world's largest cryptocurrency fell to its lowest level since February a week ago, bargain buyers returned in large numbers, and Bitcoin exchange-traded funds (ETFs) saw their largest inflows in over a month. According to JPMorgan's data, as of July 11, net inflows into Bitcoin spot ETFs were $0.882 billion, averaging $0.175 billion per day. This is the largest inflow since the period ending May 23. BlackRock and Fidelity's Bitcoin funds led the way with inflows of $0.403 billion and $361 million, respectively. Meanwhile, Grayscale's ETF continued to lose funds.
Top 20 turnover | Tesla rose and fell, closing up nearly 3%; Wells Fargo & Co. fell more than 6%, with net interest income below expectations.
On Friday, Tesla ranked first in the trading volume of US stocks, closing up 2.99% with a turnover of $38.54 billion; Nvidia ranked second, closing up 1.44% with a turnover of $32.817 billion; Apple ranked third, closing up 1.31% with a turnover of $12.257 billion.
Q2 Earnings Growth Expected to Reach Two-Year High
Overnight news: U.S. stocks closed higher on Friday, with traders betting on a big move by the Federal Reserve to cut interest rates by 50 basis points in September, and the U.S. consumer confidence index unexpectedly fell to an eight-month low.
For more global financial information, please visit 24/7 real-time financial news market closure: US stocks closed higher on Friday. This week, the market is concerned about inflation data and the prospect of Fed interest rate cuts. On July 12th, the top 20 trading volume of US stocks: Wells Fargo & Co said it cannot cut costs as expected. Popular China concept stocks rose and fell on Friday. Taiwan Semiconductor rose by 1.5%, Alibaba rose by 1.4%, and JD.com fell by 1.7%. This week, US WTI crude oil fell by 1.1%, and Brent crude fell by 1.7%. European stocks collectively rose, with the Euro Stoxx 50 index up 1.38%. Macro dissatisfaction with 25 basis points, traders are starting to bet that the Fed will make a big move to cut interest rates by 50 basis points in September.
Failed to deliver satisfactory performance to investors, large US banks collectively fell.
The largest banks in the USA that outperformed the large cap have once again been hit by investors for failing to impress them with their financial reports. Wells Fargo & Co, whose net interest income fell below expectations, plummeted 6%, marking the largest daily drop in more than three years. While Citigroup's market revenue exceeded expectations, its stock still fell 1.8%, with its expenses being the focus of attention. JPMorgan's performance and stable financial forecasts failed to excite traders, as it also fell 1.2%. These three banks all ranked among the top 20 decliners in the S&P 500 Index on Friday, with Wells Fargo & Co being the worst performer on that day, while more than 400 stocks were up in the large cap.
JPMorgan Options Spot-On: On July 12th, 246.79K Contracts Were Traded, With 916.91K Open Interest
On July 12th ET, $JPMorgan(JPM.US)$ had active options trading, with a total trading volume of 246.79K options for the day, of which put options accounted for 39.53% of the total transactions, and
Sector Update: Financial Stocks Rise in Late Afternoon Trading
Financial stocks were higher in late Friday afternoon trading, with the NYSE Financial Index adding 0.8% and the Financial Select Sector SPDR Fund (XLF) up 0.5%.The Philadelphia Housing Index
AI Super Bulls Pay Attention To The Biggest Divergence Since 2001, TSLA Call Buyers Crushed
To gain an edge, this is what you need to know today. AI Super Bulls Pay Attention Please click here for an enlarged chart of SPDR S&P 500 ETF Trust (NYSE:SPY) which represents the benchmark stock
Correction to Big Banks Continue to Feel Pressure From Higher Rates Article -- WSJ
JPMorgan Chief Financial Officer Jeremy Barnum said lower-income consumers have shifted spending to nondiscretionary purchases from discretionary purchases. "Big Banks Continue to Feel Pressure From
Banks Dissapointed Wall Street With Net Interest Income
The earnings season has been offically kicked off by JP Morgan Chase (NYSE:JPM) that reported earnings and revenue well beyond Wall Street estimates. But other big banks also joined in with their
JPMorgan, Standard Chartered-Backed Blockchain Fintech Partior Secures $60M In Venture Capital
Blockchain payment fintech Partior raised over $60 million in a Series B funding round.What Happened: Peak XV Partners led the effort, with participation from new investors Valor Capital and Jump
Multiple Wall Street banks have raised their full-year spending targets, with the main reason being their own actions.
The cost of the U.S. banking industry continues to rise, but a large portion of it is caused by themselves. The three major banks updated their 2024 cost targets on Friday, which were nearly $4 billion higher than at the beginning of the year. The main reasons include regulatory fines, costs from error correction, and higher costs for paying for bank failures last year. JPMorgan's reasons were more positive. The company made a lot of money by investing in Visa and donated $1 billion to charity. With the Fed halting interest rate hikes, the banking industry's largest source of revenue, net interest income, stopped growing. The six largest banks collectively earned a profit of $122 billion last year, but it was lower than in 2021.
Dow Reaches Record Highs Above 40,000, Small Caps Ride The Rate-Cut Wave, EV Stocks Rally: What's Driving Markets Friday?
It's another memorable day for the stock market, as the blue-chip Dow Jones Industrial Average Index reaches new record highs, surpassing the 40,000-mark milestone and breaking the previous peak set
JPMorgan Chase CFO Observes 'Robust' Dialogue in Equity Capital Markets, M&A
Readacross From U.S. Results Supportive for European Investment Banks -- Market Talk
1651 GMT - Citigroup and J.P. Morgan's results are generally helpful for European investment banks, Keefe, Bruyette & Woods say in a note after the lenders posted second-quarter figures. The two