Wells Fargo posts higher profit on cost controls, rise in loans
Wells Fargo & Co reported higher quarterly profit on Tuesday despite flat revenue as the bank benefited from aggressive cost-cutting.
Wells Fargo & Co reported higher quarterly profit on Tuesday despite flat revenue as the bank benefited from aggressive cost-cutting.
U.S. retail sales increased more than expected in June, pointing to strong consumer spending, which could help to blunt some of the drag on the economy from weak business investment.
U.S. manufacturing output accelerated in June, climbing for the second straight month, thanks in large part to increased production of motor vehicles and parts.
Blue Apron Holdings Inc said on Tuesday it would include Beyond Meat Inc's plant-based burgers on its menus from next month, a bet on the growing popularity of meat alternatives that sent the meal kit delivery firm's shares up 11%.
Expectations for lower rates and less fear about tariffs sent investors back into the market and set up a profitable run ahead.
Some international airlines have reported tentative schedules for when they expect their Boeing 737 MAX up in the air again. More than 300 Boeing 737 MAX 8 and MAX 9 passenger planes were taken out of service after two fatal crashes in Indonesia and Ethiopia, within 5 months, killed 346 passengers.
U.S. stocks opened slightly lower on Tuesday as bank shares fell after a batch of mixed quarterly reports from Wall Street lenders JPMorgan Chase, Goldman Sachs and Wells Fargo.
Goldman Sachs Group Inc reported a higher-than-expected quarterly profit on Tuesday as the Wall Street investment bank benefited from higher equities trading revenues.
More middle-class families now say the American dream is out of reach.
U.S. stock indexes treaded water on Tuesday as Wall Street's big banks swung between gains and losses after their quarterly results drew mixed reactions from investors.
U.S. retail sales increased more than expected in June, pointing to strong consumer spending, which could help to blunt some of the drag on the economy from weak business investment.
U.S. business inventories rose moderately in May as sales rebounded, suggesting that inventory accumulation could have been a drag on economic growth in the second quarter.
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U.S. lawmakers from both sides of the aisle were set to grill Facebook Inc on its cryptocurrency plans on Tuesday, as the project continues to draw intense scrutiny from financial regulators and politicians across the globe. Facebook is fighting a rearguard action to get Washington onside after it shocked regulators and lawmakers with an announcement on June 18 that it was hoping to launch a new digital coin called Libra in 2020.
Dimon is making his own bet on a digital coin that could transform the global payments landscape: JPM Coin.