Wells Fargo kicks off our bank earnings Friday. Rate cuts and dealmaking will be in focus this season – CNBC
What a difference a year makes! The club that owns Wells Fargo will report its quarterly results on Friday, and another financial holding, Morgan Stanley, will report on Tuesday. The industry’s first-quarter results will be against a more favorable backdrop than last year, when the collapse of Silicon Valley Bank in March 2023 sent shockwaves […]
Income investing opportunities emerge as the outlook for rate cuts moves to September – CNBC
Although traders’ hopes for a June rate cut were dashed, income-seeking investors may find a golden opportunity to pick up bonds and high-dividend stocks at bargain prices. Consumer prices rose faster than expected in March, rising an annualized 3.5%, beating Wall Street expectations. The news sparked a selloff Wednesday, with the Dow Jones Industrial Average […]
S&P 500 futures are showing a bearish trend, here's what chart analysts are saying about it – CNBC
The e-mini futures contract, which tracks the S&P 500, just recorded its third negative “outside day” in the past eight sessions. An outside day occurs when a security’s price range has higher highs and lower lows than the previous day. To be a negative day, compared to the previous session, it starts higher, trades at […]
Winners and losers now that the reflation trade is back. Who does well and who struggles – CNBC
A strong economy means earnings remain strong, but inflation remains high, creating a difficult story for active investors. To see how rising inflation and interest rates are impacting companies, take a look at CarMax’s earnings report released this morning. Earnings and sales in the latest February quarter were lower than expected, and the company’s goal […]
'Lose-lose situation': New Swiss bank laws could derail UBS' challenge to Wall Street giants – CNBC
Sergio Ermotti, CEO of major Swiss bank UBS, attends the group’s annual general meeting in Zurich on May 2, 2013. Fabrice Coffrini | AFP | Getty Images Switzerland’s tough new banking regulations create a “lose-lose situation” for UBS, limiting its chances of competing with Wall Street giants, said Beat Wittmann, a partner at Zurich-based Porta […]
Citi says this 'high risk' but 'attractive' global stock has 280% upside – CNBC
Citi has identified S4 Capital, a UK-based digital advertising and marketing services company, as a risky but potentially attractive investment opportunity. Despite the company’s recent struggles and bleak short-term outlook, Wall Street banks believe S4 Capital’s share price could rise as much as 280%, with a price target of 230p. UK stocks are normally priced […]
Stock futures slip on Wednesday evening as traders brace for another inflation report: Live updates – CNBC
5 minutes ago Local banks collapse on Wednesday market reaction to March inflation It wasn’t immediately clear whether local banks would be as low as they were Wednesday after inflation accelerated in March and U.S. Treasury yields rose again later. After all, the S&P 500 Financial Index was down just 1.5%, while the S&P 500 […]
Biotech stocks are ready to break out. They just need one more thing – CNBC
As debate intensifies over when the Federal Reserve will start cutting interest rates, biotech industry analysts say there’s a growing argument for stocks in the sector. The central bank has kept interest rates unchanged since July last year as it patiently waits for further signs that inflation will slow. However, consumer price data for March […]
Department stores face another squeeze. This time, with store credit card revenue – CNBC
On January 28, 2022, a customer uses a credit card to pay for an item at a retail store in New York City. Robert Nickelsburg Getty Images While the new rules will benefit customers with past-due balances, they will hurt retailers’ lucrative business of making money from customers’ credit card usage and the interest and […]
New York Community Bank’s online arm is paying the nation’s highest interest rate – CNBC
New York Community Bank in Brooklyn, New York City on February 8, 2024. Spencer Pratt | Getty Images New York Community Bank, the regional financial institution that saw more than $1 billion in lifeline needs last month, offers some of the best interest rates in the country on savings accounts. NYCB has increased the annual […]