U.S. banks are benefiting from a surge in equity markets and continued resilience in consumer spending, while being wary of some possible bubbles in the markets, Reuters reported Tuesday (Oct. 14). Goldman Sachs, JPMorgan Chase, Wells Fargo and Citigroup all reported “solid” investment banking performance...
Small business owners’ optimism declined by 2 points in September but remained above the 52-year average, the National Federation of Independent Business said Tuesday (Oct. 14). The decline took the NFIB Small Business Optimism Index to 98.8, a figure that was still above the survey’s...
Philadelphia Fed President and CEO Anna Paulson said Monday (Oct. 13) that tariff-induced price increases have been “somewhat smaller than anticipated” and that the increases that have been seen are unlikely to leave “a lasting imprint on inflation.” In remarks prepared for delivery at the...
With several banks set to report their third quarter earnings this week, analysts reportedly expect them to show strong growth but will also be looking for signs of headwinds from delinquencies in student and auto loans. The sector’s growth has been fueled by a surge...
Robinhood is reportedly looking at the prediction markets space as it continues to expand its offerings beyond its retail trading platform. The company is considering growing in the event contracts space through an acquisition, joint venture, partnership or by building its own products, Reuters reported...
Federal employees are increasingly turning to side gigs amid ongoing layoffs and a government shutdown. That’s according to a report Monday (Oct. 13) from The Wall Street Journal (WSJ), which offers up the example of Sharon Perrone, a former scientist for the Agriculture Department. Since taking a deferred...
JPMorgan Chase wants to focus $1.5 trillion on “industries critical to national economic security.” To that end, the banking giant announced in a Monday (Oct. 13) press release the Security and Resiliency Initiative, a 10-year plan to “facilitate, finance and invest” in said industries. As...
Consumer sentiment paused its late-summer slide in October, but the story behind the headline hasn’t changed: households remain fixated on high prices and a softening job outlook, and they don’t expect quick improvement. Pocketbook issues like high prices and weakening job prospects remain at the...
Subprime borrowers are reportedly having a harder time keeping up with their car payments. A record-high share, more than 6%, of these consumers are 60 days or more overdue on their payments, while the share of other borrowers who are delinquent has remained steady, The...