Earnings Take Shine Off Bank Stocks
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A still-challenging environment around lending and interest rates, along with frustration over Washington gridlock that prompted angry remarks from J.P. Morgan's James Dimon, took some of the shine off otherwise solid results from three of the biggest U.S. banks.
J.P. Morgan Reports Strong Earnings but Trims Outlook
J.P. Morgan posted a record profit for the second quarter, helped by a lending boost in both its consumer and commercial businesses. But the bank trimmed its full-year outlook for growth in lending and net interest income.
Citigroup's Revenue Rises Despite Slowdown in Trading
Citigroup said its second-quarter revenue grew 2%, topping Wall Street's expectations, as its trading desk saw a smaller-than-anticipated drop-off in activity.
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Wells Fargo Gets Boost from Higher Rates but Lending Stagnates
Wells Fargo reaped the benefits of higher interest rates in the second quarter, which helped push its profit higher. But stagnant lending and weaker revenue in areas like mortgage banking overshadowed progress on the bottom line.
PNC's Earnings Rise on Loan Growth
PNC Financial Services's second-quarter earnings and revenue topped estimates, helped by higher interest rates and growth in commercial lending.
Nasdaq Urges Central Clearing of Treasury Trading
Exchange operator Nasdaq told lawmakers that systemic risk in the $13.9 trillion U.S. Treasury market would be reduced by requiring trades be guaranteed by clearinghouses.
ICE to Supervise LBMA Silver Benchmark
Intercontinental Exchange Inc. will take over supervision of a key measure of silver prices, adding a new prize to the family of benchmarks run by the New York-based exchange operator.
Economists Place One-in-Five Odds on Trump Reappointing Yellen
Economists place long odds on President Trump nominating Federal Reserve Chairwoman Janet Yellen to a second term but have little consensus on who might take her place.
Fed's Kaplan Wants Balance-Sheet Reduction to Start Soon
The president of the Dallas Federal Reserve, Robert Kaplan, said Friday that he thinks the Fed should begin reducing its balance sheet "very soon," possibly as early as September.
China-Led Infrastructure Bank Secures AAA Rating from Fitch
Beijing-based Asian Infrastructure Investment Bank secured an AAA rating by Fitch, after receiving the same rating from Moody's Investors Service at the end of June.
(END) Dow Jones Newswires
July 14, 2017 16:15 ET (20:15 GMT)