Citigroup announced its third-quarter earnings on Friday morning, with impressive growth in institutional clients and personal banking resulting in higher-than-anticipated revenue and earnings per share. Here’s a breakdown of Citigroup’s results compared to Wall Street expectations, based on a survey of LSEG analysts, formerly known as Refinitiv: Earnings per share: $1.63, or $1.52 excluding divestitures …
Jamie Dimon, chairman and CEO of JPMorgan Chase, at the U.S. Capitol for a lunch meeting with the New Democrat Coalition in Washington, D.C., June 6, 2023. Nathan Howard | Bloomberg | Getty Images JPMorgan Chase surpassed analysts’ expectations for Q3 profit and revenue. Here’s what was reported: Earnings: $4.33 a share Revenue: $40.69 billion, …
The recent stock selloff in regional banks has raised concerns about the potential delisting of Zions and Comerica from the S&P 500 index. As the fourth- and sixth-smallest companies on the listing, with market capitalizations around $5 billion, they are at risk of being replaced by larger players like Blackstone, who recently joined the index …
Paul Tudor Jones speaking at the World Economic Forum in Davos, Switzerland, January 21, 2020. Adam Galica | CNBC Billionaire hedge fund manager Paul Tudor Jones expressed the challenges faced by investors in risk assets given the rising geopolitical tensions and the dire fiscal position in the United States. In an interview on CNBC’s “Squawk …
When it comes to investing right now, owning corporate bonds could provide some advantages. JPMorgan’s Bryon Lake believes that their Ultra-Short Income ETF (JPST) is an ideal investment for those seeking to make money outside of the stock market’s volatility. “Some of these corporate bonds have higher quality than U.S. government bonds right now,” he …
A Goldman Sachs Group Inc. logo hangs on the floor of the New York Stock Exchange in New York, U.S., on Wednesday, May 19, 2010. Daniel Acker | Bloomberg | Getty Images Investors are flocking to short-term U.S. government bonds to weather the turbulent times caused by surging longer-term yields, according to a Goldman Sachs …
The U.S. labor market experienced widespread growth in September, defying expectations of a slowdown. This strong jobs report immediately impacted the bond market, leading to a sell-off. One notable sector that showed significant growth was leisure and hospitality, a finding from the Bureau of Labor Statistics. With a net gain of 96,000 jobs last month, …
Federal Reserve Board Chair Jerome Powell delivered a news conference following a Federal Open Market Committee meeting at the Federal Reserve in Washington, D.C., on July 26, 2023, discussing the recent violent moves in the bond market. These swift and aggressive shifts have not only affected investors but have also reignited concerns about a possible …
JPMorgan’s Marko Kolanovic predicts a 20% sell-off in the S&P 500. According to Kolanovic, high interest rates are causing stocks to reach a breaking point. As a protective strategy, he recommends choosing cash with a 5.5% return in money market and short-term Treasuries. “If we stay at this level of interest rates, I’m not sure …
Renowned billionaire investor Ken Griffin, the Founder and CEO of Citadel, demonstrated remarkable resilience in his flagship hedge fund amidst a turbulent market shaped by tight monetary policies and escalating recession concerns, as per an informed source. The Wellington fund, Citadel’s versatile and diversified flagship, outperformed expectations by gaining 1.7% in September. This success propelled …