Tag: International Banks
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Bank ETFs bounce, with this fund heading for potentially best month since 2021
[ad_1] Exchange-traded funds that buy bank stocks jumped Tuesday as investors assessed Wall Street’s latest batch of second-quarter earnings results from giants including Bank of America and Morgan Stanley. The Invesco KBW Bank ETF KBWB, +3.05% closed up slightly more than 3% Tuesday, while the SPDR S&P Regional Banking ETF KRE, +4.22% surged 4.2%, according…
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The nation’s biggest banks are gearing up for more consumer struggles ahead
[ad_1] JPMorgan Chase & Co. Chief Executive Jamie Dimon on Friday said the U.S. economy was basically doing OK, even if customers were spending “a little more slowly.” But with rivals like Bank of America Corp., Goldman Sachs Group Inc. and American Express Co. set to report quarterly results this week, recession agita still prevails.…
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People aren’t holding up as well as JPMorgan, Wells Fargo and Citi say they are — here’s why
[ad_1] Despite everything, Americans’ finances are still sturdy. At least that’s the view of people’s wallets from some of the country’s biggest banks as corporate earnings season gets rolling with profit beats. “We’re trying to be really clear here. The consumer is in good shape,” said JPMorgan Chase & Co. JPM, +0.60% CEO Jamie Dimon,…
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JPMorgan, Citi and Wells earnings to unleash borrowing blitz by banks
[ad_1] Big U.S. banks kick off second-quarter earnings on Friday, with investors bracing for a subsequent wave of borrowing in the bond market from America’s top lenders. JPMorgan Chase & Co. JPM, +0.60%, Citigroup Inc. C, -4.05% and Wells Fargo & Co. WFC, -0.34% all are due to report financial results for the quarter Friday,…
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Hit with a Bank of America fee for insufficient funds? Here’s what to expect after its order to pay $250 million
[ad_1] Federal regulators have ordered Bank of America to pay $100 million to customers for allegedly mistreating them with unfair fees, withholding credit-card rewards, and opening fake accounts. The good news: Customers tangled up in the scandal do not have to do anything except wait to get paid by the bank if they have not…
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Megabank profits on tap after eventful Q2 of bank failures and climbing interest rates
[ad_1] JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. kick off second-quarter earnings season Friday after one of the choppiest three-month periods for the banking sector since the global financial crisis. Bank of America Corp. BAC, +0.46% and Morgan Stanley MS, +0.05% will provide their second-quarter updates on July 18, followed by…
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Bitcoin to top $100,000 by end of 2024, says Standard Chartered strategist
[ad_1] Bitcoin’s price is likely to reach $50,000 by the end of this year and has upside above $100,000 by the end of 2024, according to Geoff Kendrick, head of crypto research at Standard Chartered Bank. In a previous note in April, Kendrick said he expected bitcoin BTCUSD, -0.12% to rise to $100,000 by the…