Wednesday, August 10, 2022
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The confusing job market: Tech and finance brace for the worst, retail is mixed, travel can’t hire fast enough

JetBlue Airways passengers in a crowded terminal on April 7, 2022 in the Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida.Robert Nickelsberg | Getty Images News | Getty ImagesIt wasn't long ago that Amazon, Shopify and Peloton doubled their workforces to manage through the pandemic surge, while Morgan Stanley

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Market jump after Fed rate hike is a ‘trap,’ Morgan Stanley’s Mike Wilson warns investors

Morgan Stanley is urging investors to resist putting their money to work in stocks despite the market's post-Fed-decision jump.Mike Wilson, the firm's chief U.S. equity strategist and chief investment officer, said he believes Wall Street's excitement over the idea that interest rate hikes may slow sooner than expected is

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Stocks making the biggest moves in the premarket: IBM, NCR, Cinemark and more

Take a look at some of the biggest movers in the premarket:IBM (IBM) – IBM slid 5.9% in premarket action despite beating top and bottom line estimates for the second quarter. IBM warned of a $3.5 billion impact to earnings because of the strong U.S. dollar.NCR (NCR) – NCR

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Bank of America tops expectations on revenue as lender benefits from higher interest rates

Bank Of America CEO Brian Moynihan is interviewed by Jack Otter during "Barron's Roundtable" at Fox Business Network Studios on January 09, 2020 in New York City.John Lamparski | Getty ImagesBank of America on Monday posted mixed second-quarter results that included the benefit from rising interest rates and about

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Stock futures inch higher ahead of a busy week of earnings

U.S. stock index futures were modestly higher during overnight trading Sunday as Wall Street looks ahead to a busy week of earnings.Futures contracts tied to the Dow Jones Industrial Average added 0.25%. S&P 500 futures were up 0.4%, while Nasdaq 100 futures advanced 0.5%.The major averages are coming off

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Citigroup tops profit estimates as bank benefits from rising interest rates, shares pop 4%

Jane Fraser, CEO of Citi, says she is convinced Europe will fall into recession as it faces the impact of the war in Ukraine and the resultant energy crisis.Patrick T. Fallon | AFP | Getty ImagesCitigroup on Friday posted second-quarter results that beat analysts' expectations for profit and revenue

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Wells Fargo profit falls as the bank sets aside funds for bad loans, company’s shares drop 3%

Charles ScharfQilai Shen | Bloomberg | Getty ImagesWells Fargo said Friday that second-quarter profit declined 48% from a year earlier as the firm set aside funds for bad loans and was stung by declines in its equity holdings.Here's what the company reported compared with what Wall Street was expecting,

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Stock futures rise as Wall Street awaits more major bank earnings

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 30, 2022. Brendan Mcdermid | ReutersU.S. stock futures rose Thursday night after the Dow Jones Industrial Average declined following a disappointing start to second quarter earnings from the country's largest banks.More major

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Dimon rips Fed stress test as ‘terrible way to run’ financial system after his bank halts buybacks

Jamie Dimon, CEO of JP Morgan Chase, speaking at the Business Roundtable CEO Innovation Summit in Washington, D.C. on Dec. 6th, 2018. Janvhi Bhojwani | CNBCJPMorgan Chase CEO Jamie Dimon didn't mince words when it came to the regulatory process that forced his bank to suspend its stock buybacks.Asked by veteran

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Stocks making the biggest moves midday: JPMorgan Chase, Goldman Sachs, Conagra Brands and more

Pedestrians pass in front of a JPMorgan & Chase bank branch automated teller machine (ATM) kiosk in downtown Chicago, Illinois.Christopher Dilts | Bloomberg | Getty ImagesCheck out the companies making headlines in midday trading.JPMorgan Chase – Shares of JPMorgan Chase sunk 3.49% and hit a 52-week low after the

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