Wall Street's biggest banks stockpiled more rainy-day funds to prepare for a possible recession and reported weak investment banking results while showing caution about forecasting income growth, as the economy remains uncertain.
reported profits ranging from up 6% to down 50%. Strength in trading helped offset a slump in investment banking, while interest rate hikes by the U.S. Federal Reserve helped income.
JPM profit beat estimates, rising 6% on trading strength, and said it would resume share buybacks. Bank of America reported a 2% rise in profits as higher rates boosted income. However, Citi reported a 21% fall in profits, with investment banking taking a hit. Wells Fargo reported that its profit fell 50% as it racked up $3 billion in costs.
Bank of America, meanwhile, said the outlook for interest rates was too uncertain to forecast NII for the year. Citi in its investor presentation forecast NII of around $45 billion for 2023 versus $43.5 billion excluding markets in 2022.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Wall Street banks stockpile funds for possible recession, show resilienceWall Street's biggest banks stockpiled more rainy-day funds to prepare for a possible recession ahead and reported weak investment banking results, but said consumers remained healthy and higher rates boosted profits.
続きを読む »
TSMC’s U.S. stock rallies as Wall Street talks about bottom in the chip sectorTSMC rallied Thursday after the third-party silicon-wafer fabricator's results once again brought up inevitable speculation about 'the bottom.'
続きを読む »
Wall Street ends sharply higher on optimism before key inflation reportU.S. stocks ended up sharply on Wednesday, with the S&P 500 and Nasdaq gaining more than 1% each as investors were optimistic ahead of an inflation report that could give the Federal Reserve room to dial back on its aggressive interest rate hikes.
続きを読む »
Wall Street’s biggest bear: Fed’s Jerome PowellThe struggle between the Fed and markets is ultimately a good sign for Biden and Congress because it suggests that the U.S. may be in the endgame of its war against this bout of inflation, but the conflict underscores the central bank’s delicate position.
続きを読む »
11 New GOP Picks for House Financial Oversight Panel Took Over $6.1 Million From Wall Street'The MAGA majority in charge of overseeing the financial industry are completely awash in Wall Street money,' said LCommaThoughts of accountable_us. 'Consumers beware as financial scammers rejoice.'
続きを読む »
Wall Street's rally signals more conviction in the market in 2023 - listen to 'The Homestretch'Jim Cramer also expressed some caution, with the market in overbought conditions ahead of Friday's kick off of earnings season. A transcript of 'The Homestretch' will be added here shortly.
続きを読む »