News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Goldman Sachs Loses Its Trading Edge

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Goldman Sachs posted its first quarterly loss in six years as a dismal showing by its trading unit compounded a one-time charge related to the new tax law.

Wells Fargo Risk Chief to Retire

Wells Fargo's Chief Risk Officer Michael Loughlin is retiring as the bank continues to face heightened regulatory scrutiny, especially over its risk- management practices.

Fed Reports Tight Labor Markets but Modest Wage Gains

Economic activity across the U.S. expanded into 2018, with tight labor markets and modest wage and price growth, according to the Federal Reserve beige book report.

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Chicago and Dallas Fed Leaders Differ on Path of 2018 Rate Rises

Charles Evans and Robert Kaplan, leaders of the Chicago and Dallas Federal Reserve Banks, respectively, were both upbeat about the economy during a joint appearance but differed on how much the U.S. central bank may need to raise rates this year.

Stock Market's Crucial End-of-Day Auctions Set for Shakeup

Regulators dealt a blow to the New York Stock Exchange and Nasdaq Inc., approving a plan by a rival to loosen their grip over the crucial 4 p.m. closing auctions that determine the final end-of-day prices for thousands of stocks.

Bitcoin Extends Rout, Dipping Below $10,000

Bitcoin prices fell below $10,000, marking a drop of about 50% from their December record and illustrating the degree to which the cryptocurrency remains a highly illiquid and volatile investment.

U.S. Bancorp Earnings Boosted by Tax Law

U.S. Bancorp, the biggest regional bank in the country, said Wednesday that the new tax law helped boost its fourth-quarter earnings.

CFPB Launches Review of Entire Operations

The Trump-appointed acting director of the Consumer Financial Protection Bureau said the bureau is seeking public comments on how to overhaul its entire operations.

Schwab Trading Revenue Falls On Price Cuts

Charles Schwab reported net income of $597 million, or 41 cents a share, up from $522 million, or 36 cents a share. Revenue rose 14% to $2.24 billion.

Morgan Stanley Results: What to Expect

Morgan Stanley is expected to report its fourth-quarter results before the market opens on Thursday. Here's what you need to know.

(END) Dow Jones Newswires

January 18, 2018 00:15 ET (05:15 GMT)