Wells Fargo Books 32% Profit Boost
The lending giant reported that cost cuts helped net income rise to $6 billion, as executives battled regulatory issues and a slowdown in some parts of the mortgage industry.
JPMorgan Profits Rise 24% Despite Trading Dip
Banking giant JPMorgan reported that net income rose 24%, and revenue rose as well, with consumer businesses helping overcome a slight decline in trading results.
Citigroup's Profit Rises, Helped by Cost Cuts
Citigroup said its third-quarter profit rose 12% from a year ago, as the company cut expenses and reduced its tax bill amid flat revenue growth.
PNC Profit Up 25% on Higher Revenue
Profit climbed at PNC Financial in the third quarter as the regional bank reported stronger revenue and lower credit costs from a year ago.
Behind Market Turmoil, Potentially Good News
Interest rates are far below historical definitions of normal. Optimistic analysts believe the economy could have years left to run, and that the stock market selloff will prove to be a temporary bout of indigestion.
Corporate Loans Help Investors Fight the Fed
Corporate loans have outperformed almost every asset class this month as climbing interest rates hit stock and bond prices, defying analysts' warnings about rising risk in funds that buy below-investment-grade loans.
Companies Betting on Pot May Be Worse Off When the Smoke Clears
Beer and liquor companies are investing in marijuana in case customers imbibe less as legalization spreads, but their cannabis push might be a lose-lose proposition.
Tech's Red October Should Flash a Yellow Light
Tech investors should use caution-the high-flying sector may finally have met a bear that has some bite.
Gold Glitters as Stocks Fade
After climbing amid the global stock selloff, gold prices now stand at their highest level in two months, and some analysts believe they are bound to strengthen further.
Fed Officials See Strong Economy Justifying Interest Rate Rises
Though the central bank has boosted rates-drawing criticism from President Trump-it sees falling unemployment, economic growth and the return of normal inflation as other factors behind the rise.