(L-R) Brian Moynihan, Chairman and CEO of Bank of America; Jamie Dimon, Chairman and CEO of JPMorgan Chase; and Jane Fraser, CEO of Citigroup; testify during a Senate Banking Committee hearing at the Hart Senate Office Building on December 06, 2023 in Washington, DC. Win Mcnamee | Getty Images This report is from today’s CNBC … Read more
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, June 27, 2022. Michael Nagle | Bloomberg | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, … Read more
Wall Street analysts revealed bold predictions on four portfolio stocks this week, as investors digested the latest inflation data and December earnings season kicked off. Here’s a summary of each report, along with the Club’s updated take on each. Morgan Stanley Wall Street’s take: HSBC cut Morgan Stanley’s rating to hold from buy on Monday, … Read more
CNBC’s Jim Cramer on Friday guided investors through next week’s market action, telling them to pay attention when several major financial institutions report earnings. Friday’s earnings season kicked off with Bank of America, JPMorgan Chase, and Wells Fargo failing to impress Wall Street, which disappointed Cramer. The Dow Jones Industrial Average slipped 0.31%. Cramer wondered … Read more
Wells Fargo reported better-than-expected quarterly results before the opening bell Friday. We were also happy to see that as of the end of 2023, management has officially delivered on its $10 billion multiyear cost-saving program. However, the stock came under pressure on weaker-than-expected guidance. Total revenue for the three months ended Dec. 30 advanced a … Read more
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. 1. U.S. stocks were lower Friday as markets digested fourth-quarter earnings results and a fresh batch of economic data. The producer price index , a gauge of wholesale prices, declined … Read more
Wells Fargo shares fell Friday even after fourth-quarter profit rose from a year ago, as the bank warned that net interest income for 2024 could come in significantly lower year over year. “As we look forward, our business performance remains sensitive to interest rates and the health of the U.S. economy, but we are confident … Read more
Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images JPMorgan Chase reported fourth-quarter earnings before the opening bell Friday. Here’s what the company … Read more
CNBC’s Jim Cramer bemoaned Thursday’s hotter-than-expected inflation figures for December, saying the data was a blow to bulls hoping for interest rate cuts from the Federal Reserve. He said the market needs a solid start to earnings season on Friday to improve the averages. “The bulls didn’t get the cool inflation number they wanted. Consider … Read more
Consumers shop for groceries at a retail chain store in Rosemead, California, on December 12, 2023. Frederic J. Brown | AFP | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they … Read more
