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Bank of America's profits jump 19% on strong Wall Street showing
The result from the nation's second-largest bank is the latest demonstration of how some of the largest US lenders are thriving as regional rivals struggle.
The stock market
- Thread starter movetheboat
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longcast
Well-Known Angler
Morgan Stanley profits drop 14% on Wall Street slump
Net income for Morgan Stanley fell to its lowest level in more than three years as it struggled with sluggish trading and deal making.
longcast
Well-Known Angler
AT&T, Verizon stocks plunge as concerns mount over lead cables
A report that found that lead-covered cables are contaminating parts of the country is a new risk for telecom stocks.
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Goldman's profits plunged 58% in Q2
The results are likely to intensify the scrutiny of CEO David Solomon, who is wrestling with everything from partner unrest to concerns about strategy.
Profits plunged at Goldman Sachs (GS) during the second quarter as the Wall Street giant struggled with its core businesses of dealmaking and trading while taking impairment charges on consumer and real estate holdings.
Goldman's investment banking revenue declined 20% from a year ago and trading dropped 12%. That helped drag earnings down 58%, to $1.2 billion.
The earnings drop was worse than analysts expected. It was the firm's lowest quarterly profits since early 2020.
Revenues from those businesses dropped during the last quarter at Citigroup (C) and JPMorgan Chase (JPM) but were up at Bank of America (BAC). At Morgan Stanley (MS), investment banking was flat compared to a year ago while trading revenues were down.
Goldman's drop in investment banking was the second-worst among its peers, behind Citigroup. Its trading decline put it in the middle of the pack, better than Citigroup and Morgan Stanley but worse than Bank of America and JPMorgan.
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Stocks muted with Goldman out, Tesla and Netflix ahead: Stock market news today
Stocks were searching for a foothold to extend their rally on Wednesday, as investors got ready for earnings from Goldman Sachs, with Netflix and Tesla due later.
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Nasdaq futures fall as Tesla, Netflix cast a pall: Stock market news today
Nasdaq futures fell on Thursday after Tesla and Netflix updates took the shine off the earnings season, as a fresh batch of results started to roll in.
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Tesla stock is worth only $85 after gross margin whiff, analyst says: Wall Street reacts
Wall Street shows mixed emotions on Tesla's mixed second quarter.
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Stock futures signal a recovery in techs, another Dow win: Stock market news today
Stock futures nudged higher on Friday, putting the Dow on track for a 10th day of gains and for tech stocks to recover from their stumble, as investors assessed the latest batch of corporate earnings.
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Mark Zuckerberg has led the 'comeback story of the year': Morning Brief
Meta has had a big, important year. Can its newly reenergized CEO keep it up?
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Well-Known Angler
Stocks rise as techs recover, Dow set for 10th win: Stock market news today
Stocks nudged higher on Friday, putting the Dow on track for a 10th day of gains and for tech stocks to recover from their stumble, as investors assessed the latest batch of corporate earnings.
longcast
Well-Known Angler
Stocks rise as techs recover, Dow set for 10th win: Stock market news today
Stocks nudged higher on Friday, putting the Dow on track for a 10th day of gains and for tech stocks to recover from their stumble, as investors assessed the latest batch of corporate earnings.
longcast
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The next stage of the US economy is ‘unspectacular growth’
The resilient American consumer on display in both economic and corporate data has Wall Street boosting its projections for economic growth to the upside.
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Fed decision, Big Tech earnings highlight the busiest week of the summer
As the stock market rally begins to broaden, a Federal Reserve meeting and quarterly reports from more than 150 S&P 500 companies await investors in the week ahead.
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Well-Known Angler
Nasdaq opens higher with Microsoft, Alphabet results on deck: Stock market news today
Stocks opened mixed on Tuesday, with the Nasdaq on the rise as investors prepared for Microsoft and Alphabet earnings later, and for the Federal Reserve policy meeting to start.
longcast
Well-Known Angler
I have discussed that with radiologists!
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Well-Known Angler
Federal Reserve to resume rate hikes after June pause
The Federal Reserve is expected to raise rates by 0.25% on Wednesday, resuming its aggressive rate hiking campaign in an effort to bring inflation back to its 2% target.
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Well-Known Angler
A $5.5 trillion savings wipeout is raising risks for the US economy
A sharp slide in Americans' personal savings is threatening to hurt consumer spending, which has so far helped the US economy hold up in the face of recession warnings.
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Well-Known Angler
AI technology unlikely to fully replace financial advisors: Morningstar
Generative AI and machine learning make it easier for financial advisors to research investments and make recommendations to clients, but barriers to AI replacing human advisors remain.
www.foxbusiness.com
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Well-Known Angler
Stocks open lower with Fed decision, tech earnings in focus: Stock market news today
Stocks were lower Wednesday in the countdown to the Federal Reserve's interest rate decision as investors weighed Microsoft and Alphabet results.
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