Author: News Room

JPMorgan (NYSE: JPM) is scheduled to report its fiscal Q1 2023 results on Friday, April 14, 2023. We expect JPMorgan to post mixed results with earnings beating the consensus but revenues missing the mark. The bank outperformed the street expectations in the last quarter, with revenues increasing 18% y-o-y to $34.5 billion. The top line mainly benefited from growth in net interest income. The NII improved 48% y-o-y to $20.2 billion driven by loan growth and higher interest rates. That said, the revenues were somewhat offset by an 8% drop in the noninterest income, primarily due to a 59% decline…

The recent uncertainty in the banking sector presents an urgent question for bank leaders: how can we convince our customers that their money is safe with us? Some new industry research suggests a surprising and powerful answer. Accenture surveyed 49,000 bank customers around the world and found that two-thirds of them like seeing bank branches in their neighborhoods as it confirms the stability and availability of their bank. This was consistent across all geographies and all age groups. This finding raised many eyebrows, including my own. Why would so many consumers, in our digital-dominated world, feel this way about brick-and-mortar…

By Jesús Aguado MADRID (Reuters) -Core inflation in the euro zone is likely to stay high for the rest of 2023, ECB policymaker Pablo Hernandez de Cos said on Monday, leaving the door open for further interest rate hikes. Inflation in the euro zone dropped by the most on record in March, but growth in core prices accelerated, data showed last month. “Core inflation is expected to remain elevated in the rest of the year … that may delay convergence towards the 2% target in the medium run and that will therefore need close monitoring,” De Cos, who also chairs…

By Peter Nurse    Investing.com — Oil prices rose Tuesday, continuing the recent positive tone ahead of an industry report of weekly U.S. crude stocks as well as a key U.S. inflation release.  By 09:15 ET (13:15 GMT), traded 0.9% higher at $80.43 a barrel, while the contract rose 0.5% to $84.62 a barrel. The , an industry body, is scheduled to release its weekly data on U.S. crude stockpiles later in the session and is expected to show another fall after last week’s drop of over 4 million barrels. The API numbers serve as a precursor to official inventory data…

© Reuters. By Liz Moyer Investing.com — Stocks were subdued on Monday, with the flat heading into the final minutes of trading as investors braced for a slew of inflation data coming this week. The latest report on the as well as one on are due mid-week, with investors already worried that last Friday’s for March would encourage the Federal Reserve to continue to raise interest rates. The economy created 236,000 jobs last month, just a tick below expectations for 239,000 but a sign of a still-tight labor market. Consumer prices are expected to show continued signs of slowing, though…

The recent stress in the banking sector could reduce the ability of U.S. banks to lend over the next year, and materially lower U.S. economic growth, the International Monetary Fund said Tuesday. The IMF estimated said that lending capacity in the U.S. could fall by almost 1% in the coming year.  That would reduce U.S. real gross domestic product by 44 basis points over that time frame, all else being equal, the IMF said.  The U.S. economy was only expected to grow marginally even before the bank sector stress of mid-March. According to the latest estimate from the Federal Reserve,…

Let me state for the record that I really like my dog, an 12-year-old cutie named Lulu. She plays a good game of fetch. She forces me to get a little more exercise with her constant need for walks. She has also mastered house-training (well, almost, but let’s not get into the details). But would I plan a big celebration for her on National Pet Day, which happens to be today? Not on your freaking life. Lately it seems there are no limits to what we do for our four-legged friends. Some of us buy them a Louis Vuitton MC,…

Inflation data for March will offer the clearest signal yet as to whether the Federal Reserve will raise interest rates in May for a tenth consecutive time in this cycle. The key to decoding the latest consumer-price-index report, due Wednesday: Look beyond the headline numbers. Economists expect inflation rose 0.3% in March to reach a 5.2% annual pace. That would mark a sizable deceleration from the 6% annual rate notched in February. But while a slowdown of that magnitude would look like progress, much of it will be due to a decline in energy-services prices as the cost of natural…

Whirlpool was rising Tuesday after a Goldman Sachs analyst upgraded shares of the home appliance company on confidence in near-term initiatives that could drive revenue and margin expansion. Goldman Sachs analyst Susan Maklari upgraded shares of Whirlpool (ticker: WHR) to Buy from Neutral on Tuesday. “Over the last six months, Whirlpool has announced a number of initiatives aligned with achieving longer-term revenue, margin, cash flow, and returntargets,” Maklari wrote in a research note. These initiatives include cutting costs by $500 million as supply-chain issues mitigate, and the $3 billion acquisition of Emerson Electric‘s (EMR) InSinkErator business in the fourth quarter.…

Donald Trump’s close presidential aide and speechwriter Stephen Miller returned to testify to a federal grand jury in Washington on Tuesday after the courts ordered that he and other top advisers must share their recollections of direct conversations with the then-president related to the January 6, 2021, Capitol riot. Miller is likely to be asked in the grand jury about his phone call with Trump minutes before the Ellipse rally that day, and other conversations they had about the election. The grand jury is hearing evidence as part of a special counsel’s criminal investigation. Miller’s appearance at the federal courthouse…