The megabanks kicked off third-quarter earnings Friday, with results from JPMorgan , Wells Fargo and Citigroup . Everything is about interest rates these days, and the bank results are no exception. Most large players have turned in big profits this year. The high rates that felled some smaller players have let them charge more for loans. They have also scooped up customers who were frightened by the turmoil in the regional banks. Those gains could be starting to fade.
BlackRock profit rose in the third quarter from a year ago, despite the overall market slump that weighed on flows to its investment products. Citigroup profit and revenue both rose, topping expectations in its third quarter. And in industry news: The business of investment banking has been in the doldrums for more than a year. Third-quarter bank earnings point to light at the end of the tunnel.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: Asian markets slip as rising yields in the bond market pressure stocksShares have fallen in Asia after a retreat on Wall Street as the vise tightened from rising yields in the bond market. Hong Kong's benchmark dropped more than 2% as investors were disappointed by the latest Chinese economic data. U.S. futures edged higher and oil prices advanced. On Thursday, the S&P 500 lost 0.6% and the Dow shed 0.5%.
Source: AP - 🏆 728. / 51 Read more »
Investors are asking too much from the stock market, says this strategist.Critical information for the U.S. trading day
Source: MarketWatch - 🏆 3. / 97 Read more »
Stock Market Today: Dow ends higher as focus shifts to consumer inflation dataStock Market Today: Dow ends higher as focus shifts to consumer inflation data
Source: Investingcom - 🏆 450. / 53 Read more »
Stock market today: Asian shares rise with eyes on prices, war in the Middle EastAsian shares are mostly higher as investors await the release of U.S. consumer price data and keep a cautious watch on the war between Israel and the Palestinian militant group Hamas.
Source: ksatnews - 🏆 442. / 53 Read more »
Stock market today: Asian shares rise with eyes on prices, war in the Middle EastAsian shares are mostly higher as investors await the release of U.S. consumer price data and keep a cautious watch on the war between Israel and the Palestinian militant group Hamas.
Source: wjxt4 - 🏆 246. / 63 Read more »
Stock market today: Asian shares rise with eyes on prices, war in the Middle EastAsian shares are mostly higher as investors await the release of U.S. consumer price data and keep a cautious watch on the war between Israel and the Palestinian militant group Hamas. U.S. futures advanced while oil prices fell. Hong Kong's benchmark jumped more than 2%. On Wednesday, the S&P 500 rose 0.4% and the Dow added 0.2%.
Source: AP - 🏆 728. / 51 Read more »