United States

US stocks slip as bank earnings roll in

Fox Business | Apr 15, 2019 at 1:00 PM
  • U.S. stocks slipped Monday as Wall Street investors focused on big bank earnings, amid a key investment bank’s first-quarter revenue missing analyst expectations.
  • Goldman Sachs first-quarter revenue fell 12.6 percent to $8.8 billion, slightly less than analysts expected.
  • Goldman Sachs shares were down sharply, weighing on the blue-chip Dow Jones Industrial Average, which began Monday’s session close to its record high of 26,828.39, a mark reached Oct. 3, 2018.

United States

Citigroup’s 1Q profits rise 2%, beating forecasts

Fox Business | Apr 15, 2019 at 12:42 PM
  • Banking conglomerate Citigroup said its first quarter profits rose by a relatively quiet 2% from a year earlier, as higher interest and investment banking revenues helped offset a decline in trading.
  • Citi’s results were similar to those of its Wall Street competitors, JPMorgan Chase and Goldman Sachs.
  • Citi reported a 24% decline in stock trading revenue, while bond and currency trading revenue fared better, up 1% from a year earlier.

United States

Citigroup posts revenue decline in first quarter as profit tops estimates

MarketWatch | Apr 15, 2019 at 12:13 PM
  • Citigroup Inc. shares C, +2.29% were slightly higher in premarket trade Monday, after the bank posted a decline in revenue for the first quarter.
  • Global consumer banking revenue edged up to $8.451 billion from $8.426 billion, institutional clients group revenue fell to $9.694 billion from $9.855 billion and corporate/other revenue came to $431 million, down from $591 million.
  • Fixed income trading revenue rose 1% to $3.5 billion, while equity markets revenue fell 24% to $842 million.

United States

Goldman profits fall 21% from year ago, hurt by trading

Fox Business | Apr 15, 2019 at 12:02 PM
  • Goldman Sachs said its first quarter earnings fell by 21% from a year earlier, hurt by a slowdown in trading.
  • The investment bank earned a profit of $2.25 billion, or $5.71 a share, down from a profit of $2.83 billion, or $6.95 a share.
  • The bank reported a 12% decline in net revenues in its investment management businesses, and a 14% decline in net revenues in its investing and lending business.

United States

Stock futures muted ahead of big bank earnings

Reuters | Apr 15, 2019 at 11:29 AM
  • U.S. stock index futures were subdued on Monday as investors awaited more big banks earnings following JPMorgan’s upbeat results, while sentiment was supported by reports of progress in trade talks.
  • Boeing Co, the single largest U.S. exporter to China, rose 0.3%.
  • Of the 29 S&P 500 companies reporting results so far, 79.3% have surpassed first-quarter earnings estimate, above the average of past four quarters.

United States

Global Stocks Hit 6 Month High On, Drumroll, Renewed “Trade Talk Optimism”

Zero Hedge | Apr 15, 2019 at 11:24 AM
  • This is the part in Groundhog Day where Phil Connors kills himself again, and again, and again.
  • In Asia, equities headed for a fresh six-month high, propelled by markets in Japan and Korea, after the Bank of China released upbeat credit data, although earlier, Chinese stocks closed in the red, fading initial trade-related gains as expectations for rate cuts fizzled following the latest credit deluge.
  • Former trade unionist Antti Rinne is poised to become Finland’s first Social Democrat prime minister in 16 years after winning by fewer than 7,000 votes but his party faces tough coalition talks ahead as the ultra nationalist Finns Party emerged as the second-biggest party, beating the establishment conservative National Coalition for the first time.