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
This year is shaping up to be a better time for bank stocks than in 2023. But, investors shouldn’t get too excited ahead of earnings season. Club name Wells Fargo will deliver fourth-quarter results before the opening bell on Friday. Our other financial holding, Morgan Stanley , will report on Tuesday. As important as the … Read more
Representations of cryptocurrency Bitcoin are placed on a PC motherboard in this illustration taken June 16, 2023. Dado Ruvic | Reuters 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 are. Like what … Read more
CNBC’s Jim Cramer analyzed several major banks’ performances on Wednesday, telling investors what to look out for when JPMorgan, Citigroup, Bank of America and Wells Fargo release earnings reports on Friday. These reports can set the tone for earnings season, he said. “If you believe, as I do, that interest rates have peaked and that … Read more
A Bitcoin logo on a screen in Hong Kong, China, on Tuesday, Dec. 5, 2023. Paul Yeung | 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, no matter where they are. Like … Read more
Here are the most important news items that investors need to start their trading day: 1. A bumpy beginning 2. Boeing woes continue Boeing shares dropped in premarket trading Monday, after the FAA grounded about 171 of the company’s 737 Max 9 planes. The agency grounded the aircraft for inspections after a panel blew out … Read more
It’s not being talked about enough. This market move off the November lows and the Fed pivot — signaling an end to the central bank’s rate-hiking cycle — is one of the most astonishing and satisfying I have seen in 43 years of investing. In nine weeks, we blew through price targets on so many … Read more
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