[ad_1] Traders work on the floor of the New York Stock Exchange. NYSE Stocks were higher Monday as Wall Street braced for quarterly reports from some of the biggest companies in the world. The Dow Jones Industrial Average traded 60 points higher, or 0.2%. The S&P 500 climbed 0.2%, while the Nasdaq Composite advanced 0.4%. … Read more
[ad_1] Select brokerage firms are boosting the rates they pay on idle cash just sitting in retail investors’ accounts. Since the Federal Reserve embarked on its policy-tightening campaign more than a year ago, yields on a range of otherwise boring investments have climbed, including short-term Treasury bills. This has spurred banks to boost rates on … Read more
[ad_1] Berkshire Hathaway CEO Warren Buffett on Saturday assailed regulators, politicians and the media for confusing the public about the safety of U.S. banks and said that conditions could worsen from here. Buffett, when asked about the recent tumult that led to the collapse of three mid-sized institutions since March, launched into a lengthy diatribe … Read more
[ad_1] A First Republic bank branch in Manhattan on April 24, 2023 in New York City. Spencer Platt | Getty Images U.S. regulators have asked banks for their best and final takeover offers for First Republic by Sunday afternoon, in a move that authorities hope will calm markets and cap a period of uncertainty for … Read more
[ad_1] Big banks just had a busy earnings week, and a few beat expectations. Two of them were Citi and Bank of America , both of which exceeded forecasts on revenue and other metrics. “There are expectations for greater regulatory oversight given SIVB’s failure, but large banks are well prepared and we do not expect … Read more
[ad_1] Morgan Stanley CEO James Gorman participates in a conversation-style interview with Economic Club of Washington in Washington September 18, 2013. Yuri Gripas | Reuters Morgan Stanley on Wednesday topped estimates for first quarter profit and revenue on better-than-expected trading results. Here’s how the company did: Earnings of $1.70 per share, vs. $1.62 Refinitiv estimate … Read more
[ad_1] JPMorgan Chase posted record first-quarter revenue on Friday that topped analysts’ expectations as net interest income surged almost 50% from a year ago on higher rates. Here’s what the company reported: Adjusted earnings: $4.32 per share vs. $3.41 per share Refinitiv estimate Revenue: $39.34 billion, vs. $36.19 billion The bank said profit jumped 52% … Read more