Latest news with #bigbanks
Bloomberg
6 days ago
- Business
- Bloomberg
S&P 500 Waffles as Chipmaker Losses Offset Upbeat Bank Results
The S&P 500 Index shuffled between small gains and losses on Wednesday, as a decline in chipmakers kept broader gains in check as traders parsed cooling producer prices and a string of profit updates from big banks. The equities benchmark slipped less than 0.1% as of 9:57 a.m. in New York, leaving it 0.6% from a fresh all-time high. The Nasdaq 100 Index fell 0.4%, a day after notching a new record as US-listed shares of ASML Holding NV dropped nearly 10% after the chip equipment maker struck a more cautious tone about growth outlook next year.
Globe and Mail
15-07-2025
- Business
- Globe and Mail
Markets Hit Record Highs, Banks Report Q2 Results: Stocks to Watch
Stocks crept higher to kick off an eventful week, with the Nasdaq notching a record closing high ahead of the official start of the second-quarter earnings season. Over the weekend, President Trump upped the ante in regards to his tariff agenda, promising 30% duties on Mexico and the European Union. Officials from both countries are pushing to make a deal before the August 1 st deadline. Adding to the headlines yesterday, Trump ramped up tensions with Russia over the war in Ukraine, threatening to impose 'secondary' tariffs of up to 100% if a deal is not struck soon. Markets seemed to shrug off the latest tariff flareups, looking past any uncertainty as the Q2 earnings season gets underway. Almost 100 companies are on deck to report results this week, including 38 S&P 500 members. Several big banks reported this morning before the open, with the majority of the pack outpacing estimates. A mainly in-line CPI inflation report added to the bullish sentiment. It'll be interesting to see how stocks react to earnings. Looking at the second quarter as a whole, S&P 500 companies are expected to witness 4.7% earnings growth on 4% higher revenues. These figures represent a significant deceleration from the growth trend of recent quarters. Recapping the First Half of the Year It's an exciting time in the stock market right now with the major U.S. indexes eclipsing their former all-time highs. As we make our way deeper into the third quarter, let's take a step back and try to determine what may lie ahead for the rest of 2025 and beyond. It was certainly a first half to remember. The see-saw action translated to one of the most volatile first halves in recent memory. President Trump's trade war sent shockwaves throughout the financial markets, resulting in a nasty correction earlier in the year as investors priced in potential trade outcomes. By April, market performance began to turn the corner, improving rapidly as investors gained more clarity amid signs of trade-talk progress. The V-shaped, relentless move morphed into a lockout rally that left nonbelievers in the dust. And because many investors missed out on big gains, they will continue to snap up shares on weakness, which should help lift stocks even further. The S&P 500 just delivered one of the greatest three-month rallies in history, advancing more than 25% off the April lows. As we can see below, the current version of the blue-chip index has only accomplished this feat five other times since its inception in 1957: In the twelve months following each of these instances, the S&P 500 delivered double-digit gains each time. As the saying goes, strength begets strength. Still, the doubters and naysayers remain prevalent. This is certainly one of the most hated market rallies since the surge in stocks following the onset of the COVID-19 pandemic. There are always reasons that critics can point to as to why stocks can't continue higher, but as we know, stocks climb a wall of worry. Stocks to Watch Megabank JPMorgan Chase JPM led a slew of banks reporting quarterly earnings Tuesday morning. The banking giant reported Q2 earnings of $4.96 per share, beating the Zacks Consensus Estimate of $4.51/share by 9.98%. The bottom line improved 12.7% versus the year-ago period. Revenues for the second quarter of $44.91 billion also topped estimates. JPM stock, a Zacks Rank #2 (Buy), ticked down slightly but remains in a strong uptrend and near 52-week highs: Outside of financials, leading chipmaker Nvidia NVDA saw its stock pop about 4% in the early going after the company stated it is filing applications with the U.S. government to resume sales of its previously restricted H20 GPUs to China. 'The U.S. government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon,' the company said in a prepared statement. Nvidia will be one of the last companies to report quarterly results this season in late August. The stock has broken out to all-time highs and is resuming its former momentum: Bottom Line Positive earnings results out of the gate bode well for the remainder of the season. A tame inflation trend in the face of President Trump's tariffs adds to the bullish case. Historical statistics also point to more general market strength over the next twelve months. Make sure you're taking advantage of all that we offer here at Zacks. Disclosure: JPM is a long-term holding in the Zacks Income Investor portfolio. NVDA is a core holding in the Zacks Headline Trader portfolio. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. JPMorgan Chase & Co. (JPM): Free Stock Analysis Report
Wall Street Journal
10-07-2025
- Business
- Wall Street Journal
Inside the Wall Street Recruitment Wars Pitting Banks Against Buyout Firms
Speed-dating-style interviews that can drag on until 3 a.m. Job offers that require a response within a day. A fear that your current boss might find out what you're doing. All for positions that don't even start for two to three years. Welcome to the frenzied world of private-equity recruiting, where recent college graduates who have barely started their first gigs as analysts at big banks vie to secure coveted positions at buyout firms.
Bloomberg
26-06-2025
- Business
- Bloomberg
FDIC Scraps Public Meeting on Changes to Key Bank Capital Rule
The Federal Deposit Insurance Corp. decided to handle Thursday's board meeting on a key capital rule 'notationally,' according to a statement, after previously saying it would be open to the public. The FDIC announced last week that its public meeting would focus on modifying a rule that big banks have said limits their ability to act as intermediaries in the $29 trillion Treasuries market. A video feed for the meeting cut out shortly after it was set to begin, and the agency later sent a statement that didn't provide a reason for the change.
Wall Street Journal
24-06-2025
- Business
- Wall Street Journal
Big Banks, Worried About Being Trump's Next Target, Race to Appease Republicans
Big banks are trying to get out of the crosshairs of Republican states that are cracking down on companies for 'woke' policies that conservative policymakers say are illegal and discriminatory. Representatives from JPMorgan Chase JPM 1.19%increase; green up pointing triangle, Citigroup C 1.16%increase; green up pointing triangle, Wells Fargo WFC 2.14%increase; green up pointing triangle and other big banks met in recent weeks with officials in states including Texas and Oklahoma to defend against allegations that they refuse to do business with industries such as gun manufacturing and fossil-fuel extraction, people familiar with the discussions said.
