Earnings Report

Netflix’s stock fell nearly 14% after its earnings report.

The latest on developments in financial markets (all times local): 9:35 a.m.

Bank of America is reporting a 33 percent jump in second-quarter profits as it cut expenses and benefited from the new tax law.

Germany's biggest bank, Deutsche Bank, says it foresees considerably higher-than-expected earnings for the second quarter — results that it says underline the company's "resilience."

Net income applicable to common shareholders rose to $6.47 billion in the second quarter, from $4.75 billion a year earlier.

On a per share basis, BlackRock earned $6.62, compared with $5.20 a year earlier.

___ Federal Reserve projects further gradual hikes in key rate WASHINGTON (AP) — The Federal Reserve says that it expects low unemployment and rising inflation will keep it on track to raise interest rates at a gradual pace over the next two years.

Wells Fargo & Co. says second-quarter earnings fell to $5.19 billion from $5.86 billion a year ago.

Citigroup Inc. says second-quarter net income rose to $4.49 billion from $3.87 billion a year ago.

JPMorgan Chase says second-quarter profits rose by 18 percent from a year ago, as the bank continues to benefit from higher interest rates and a lower tax bill following last year's passage of President Donald Trump's tax law.

Citigroup reported 2Q profit of $1.63 per share topping the estimate for $1.56 as lower taxes boosted the big bank's revenue, which offset the higher cost of credit.

Revenue and earnings per share missed analysts' expectations.

The nation's biggest bank continues to benefit from new tax law.

Asian shares are mostly higher, rebounding from jitters over the U.S.-China trade disputes for a second straight day.

Delta is topping most profit expectations for the second-quarter, but it's slashing its outlook for the year, citing a $2 billion spike in fuel costs.