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WFC-PRR
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GLOBAL MARKETS-Stocks tumble, dollar firms amid geopolitical risk, mixed central bank views
U.S. Stocks tumble, dollar firms amid geopolitical risk, mixed central bank views. MSCI's gauge of stocks across the globe was last down 1.2%, its biggest one-day drop in six months. The dollar jumped to its highest level in over five months as oil prices rose on Middle East tensions. European Central Bank signaled it could start cutting rates.
Reuters · 13h ago
US STOCKS-Wall St ends sharply lower on mixed earnings, sticky inflation, geopolitical fears
All three major U.S. Indexes fall more than 1% on the week. JPMorgan Chase, Citigroup and Wells Fargo fall after disappointing results. All 11 major sectors in the S&P 500 closed in the red. The Dow suffered its biggest weekly percentage loss since January. Stocks fall on mixed earnings, sticky inflation, geopolitical fears.
Reuters · 13h ago
LIVE MARKETS-U.S. stocks end week on a sour note as inflation, geopolitical concerns weigh
U.S. Stocks end week on a sour note as inflation, geopolitical concerns weigh on sentiment. All three major indexes ended the day down by more than 1%. Dow Jones Industrial Average posted its biggest weekly percentage drop since March 2023. Bank earnings on Friday were also in focus.
Reuters · 14h ago
BUZZ-PREVIEW: Goldman Sachs shares off in session ahead of quarterly report
Goldman Sachs shares down 2.4% on Friday in the session ahead of quarterly report. S&P 500 bank index down 3.3% as investors are less than impressed with JPMorgan's results. Wall Street expects Goldman to report earnings of $8.56 on revenue of $12.92 billion.
Reuters · 14h ago
US STOCKS-Wall St extends losses on mixed earnings, sticky inflation, geopolitical fears
All three major indexes fall more than 1% on the week. JPMorgan Chase, Wells Fargo and Citigroup report mixed results. All 11 major sectors in the S&P 500 were in the red. CBOE Volatility Index hits highest level since October 2023. U.S. Steel dips after shareholders approve merger with Nippon Steel.
Reuters · 15h ago
BUZZ-U.S. STOCKS ON THE MOVE-Virco, Argan, State Street
Wall Street's main stock indexes fell on Friday. The Dow Jones Industrial Average was down 1.48% and the S&P 500 and Nasdaq Composite were also down. Some big banks dipped after reporting dour quarterly results. The top three growth stocks and chipmakers receded. Virco, Argan and State Street were up.
Reuters · 15h ago
GLOBAL MARKETS-Dollar firms on mixed central bank views, Middle East risk lifts oil
U.S. Dollar firms on mixed central bank views, Middle East risk lifts oil prices. MSCI's gauge of stocks across the globe falls 1.23% on Friday. European Central Bank signals it could cut rates, but investors expect fewer cuts than the U.S.'s. Wall Street stock indexes slump as first-quarter earnings season kicks off.
Reuters · 16h ago
WRAPUP 1-US banks' profit picture less clear with cloudy rates trajectory
US banks' profit picture less clear with cloudy rates trajectory. Uncertain trajectory of interest rates is making it hard for banks to forecast profits. Banks have reaped high profits in recent quarters as Fed started raising interest rates to tame inflation. Wells Fargo's interest income fell 8% in the first quarter.
Reuters · 16h ago
BUZZ-US bank stocks fall despite better-than-expected earnings from big lenders
US bank stocks fall despite better-than-expected quarterly earnings from three big lenders. S&P 500 banks index drops 3.19%, with JPMorgan Chase and Citigroup among the biggest losers. JPMorgan Chase, the biggest U.S. Bank by assets, beat estimates with Q1 profit.
Reuters · 17h ago
BREAKINGVIEWS-JPMorgan wrestles with the tyranny of expectations
JPMorgan and rivals Citigroup and Wells Fargo reported first-quarter earnings on Friday. All three left their full-year estimates of interest income substantially unchanged. John Foley says JPMorgan's Jamie Dimon is right to avoid being pinned down on expectations. It's smart to plan for all eventualities, but it adds volatility, he says.
Reuters · 17h ago
BUZZ-U.S. STOCKS ON THE MOVE-Exxon, Oil stocks, Nextplat
The blue-chip Dow and the S&P 500 were on track for weekly losses on Friday. Most megacap growth stocks and chipmakers retreated, while some big banks fell after reporting dour quarterly earnings. The Dow Jones Industrial Average was down 0.84% at 38,136.43 and the Nasdaq Composite was down 1.08%.
Reuters · 17h ago
US STOCKS-S&P 500, Dow set for weekly losses as banks, megacaps fall
US STOCKS-S&P 500, Dow set for weekly losses as banks, megacaps fall. JPMorgan Chase, Wells Fargo, Citigroup fall after dour quarterly earnings. The blue-chip Dow and the s&p 500 were on track for weekly loses. Most megacap growth stocks and chipmakers retreated.
Reuters · 18h ago
CANADA STOCKS-TSX drifts higher on commodities boost
Canada's main stock index snaps two-day slide, up 0.2% Materials, energy lead gains as stronger commodities prices boost commodities prices. The Toronto Stock Exchange's S&P/TSX composite index up 46.18 points, or 0.21% materials, energy shares lead gains. MTY Foods slip after quarterly results.
Reuters · 19h ago
US STOCKS-Wall St slips after big bank earnings
Wells Fargo falls after reporting 7% fall in first-quarter profit. JPMorgan Chase down 4.8% after forecast for interest income forecast miss. S&P 500 banks index falls 2.4% to hit lowest level in a month. Tech-heavy Nasdaq on track for its first weekly gain in three.
Reuters · 19h ago
WELLS FARGO CEO SAYS MARKETS AND RATES WILL LIKELY REMAIN VOLATILE- CONF CALL
Reuters · 20h ago
WELLS FARGO CEO SAYS EMBEDDED IN OUR BASELINE FORECAST IS THAT WE WOULD EXPECT SOMEWHERE AROUND 3 RATE CUTS THIS YEAR- CONF CALL
Reuters · 20h ago
WELLS FARGO SHARES DOWN 2.1% AFTER CO REPORTS LOWER Q1 PROFIT
Reuters · 20h ago
Wells Fargo & Co reports results for the quarter ended in March - Earnings Summary
Wells Fargo & Co reports quarterly adjusted earnings of $1.26 per share for the quarter ended in March. Revenue rose 0.6% to $20.86 billion from the same quarter last year. The company reported quarterly income of $4.31 billion.
Reuters · 20h ago
BUZZ-U.S. STOCKS ON THE MOVE-Netflix, Citigroup, silver miners
Dow e-minis were down 0.87% in early trading on Friday. Wall Street's main stock indexes on track for a lower open. Netflix, silver miners and chipmakers rise. Citigroup and JPMorgan Chase dip after dour quarterly results. The top two NYSE percentage gainers were Via Optronics and silver miners.
Reuters · 20h ago
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About WFC-PRR
Wells Fargo & Company is a financial services company. The Company provides a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through banking locations and offices, the Internet (www.wellsfargo.com) and other distribution channels to individuals, businesses and institutions in states, the District of Columbia and in countries outside the United States. The Company provides consumer financial products and services, including checking and savings accounts, credit and debit cards, and auto, mortgage and home equity, and small business lending. In addition, the Company offers financial planning, private banking, investment management, and fiduciary services. The Company also provides financial solutions to businesses through products and services including traditional commercial loans and lines of credit, letters of credit, asset-based lending, trade financing, treasury management, and investment banking services.