Financials

Kyle Bass, the famed hedge fund manager, who successfully called the subprime crisis in 2008 before it nearly destroyed the U.S. financial system, is climbing a new wall of worry; Asia’s impact on the U.S.

Consumers are getting cocky when it comes to taking on debt, creating a new wall of worry for economic experts.

Morgan Stanley reported a 1Q profit of $0.55 per share, topping the estimate for $0.46. Revenue for the bank came in at $7.8 billion, just short of the estimate for $7.86 billion

Image source: Visa.

American Express is moving forward with job cuts and restructuring plans.

Citigroup reported 1Q profit of $1.10 per share on an adjusted basis, topping the estimate for $1.03. Revenue came in at $17.6 billion The estimate was for $17.47 billion.

Wall Street inched higher in muted trading on Thursday, propped up by financial stocks, as investors turn their focus on corporate earnings season.

Among the companies with shares expected to trade actively in Thursday's session are Bank of America Corp., Valeant and PNC Financial Services Group Inc.

Wells Fargo reported a 7 percent fall in quarterly profit as it set aside more than $1 billion to cover bad loans, saying its energy portfolio remained under "significant stress."

Bank of America, the No. 2 U.S. bank by assets, reported an 18 percent slide in quarterly profit on Thursday as its trading business was hit by concerns about a global economic slowdown and uncertainty about U.S. interest rates.

BlackRock, the world's largest asset manager, said on Thursday its profit fell about 20 percent during a first quarter that featured a dramatic reversal for markets.

JPMorgan Chase CEO Jamie Dimon took the opportunity in the bank's first-quarter earnings release to emphasize that his team is positioning JPMorgan Chase"to withstand any environment and to maintain scale and profitability through the cycle." Image source: JPMorgan Chase.

JPMorgan's 1Q beat the street...Will Bank of America and Wells Fargo follow suit? These ETFs can help you bet around the sector.

U.S. stocks are higher in late morning trading on Wednesday, with the S&P 500 and the Dow Jones Industrial Average (DJINDICES: $INDU),up 0.66% and 0.69%, respectively, at 11:30 a.m. ET.

Five out of eight of the country's biggest banks do not have credible plans for winding down operations during a crisis without the help of public money, federal regulators said on Wednesday.

JPMorgan Chase, the biggest U.S. bank by assets, reported a 6.7 percent drop in quarterly profit as costs to cover possible sour loans to troubled shale oil companies rose and revenue from trading and investment banking declined.

Image source: Tesla.

Goldman Sachs Group Inc (NYSE:GS) has agreed to pay $5.06 billion to settle claims that it misled mortgage bond investors during the financial crisis, the U.S. Department of Justice said on Monday.

It is only April, but some on Wall Street are already predicting a rotten 2016 for U.S. banks.