David Solomon, Goldman Sachs, at Marcus event Goldman Sachs CEO David Solomon is reining in his ambition to make the 153-year-old investment bank a major player in U.S. consumer banking. After product...
Tag: Banking
Goldman Sachs Reports Earnings Today. Everyone Is Watching For This.
Goldman Sachs Group is the last of the big banks to post third-quarter earnings but Wall Street is more concerned over the investment bank’s bigger plans. Over the last few weeks reports have noted th...
‘Material risk’ looms over stocks as investors face bear market’s ‘second act’
Stock-market investors have been adjusting to the jump in interest rates amid high inflation, but they have yet to cope with profit headwinds faced by the S&P 500, according to Morgan Stanley Weal...
Bank of America Stock Leaps On Q3 Earnings Beat, Solid Loan Growth
Updated at 9:33 am EST Bank of America (BAC) posted better-than-expected third quarter earnings Monday, with solid net interest income gains offsetting the impact of big jump in provisions for bad l...
This simple chart reveals how much you need to save at 35 to become a millionaire by 65
What it takes to become a millionaire Getty Images/iStockphoto If you’re in your 30s and already dreaming of retirement, you may be wondering: Just how much do I need to start socking away to retire? ...
Tesla, Goldman Sachs, Netflix, AT&T, and Other Stocks for Investors to Watch This Week
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Classic 60/40 investing strategy sees worst return in 100 years. How about 40/60?
Rules of thumb in investing appear to no longer apply in the carnage of 2022 in financial markets. Advocates for the 60/40 portfolio split, designed to capture the upside of stocks, but offer investor...
Celeb Backed Banking Platform For Youth, Step Bags $300 million In Debt Capital; Allows Crypto investments
Step is the first banking service for teenagers. Users will now be rewarded in crypto for purchases in popular stores. Teenagers can now invest in cryptocurrency Step is a digital banking firm focused...
What bank earnings tell us about how consumers are doing with high inflation, recession worries — ‘It’s not a crack in current numbers’
For all the worries about inflation’s pinch and the chance of a recession, just-released earnings reports from big banks indicate the wallets of many regular Americans are generally holding up as they...
‘Growing wealth gap and rising inflation … hurt the global economy at almost every turn,’ Jamie Dimon says
What a difference 25 years can make. The world today is a markedly different place from the world that existed at MarketWatch’s inception in October 1997. JPMorgan Chase & Co. JPM, +1.66% CEO Jami...
Tether Says It Has Ditched Commercial Paper. It’s a Good Sign for Stablecoins.
Tether said that it no longer holds commercial paper in its reserves, favoring U.S. Treasuries instead in a move that addresses worries about the quality of assets backing the world’s most popular sta...
Bill Burr complained to Joe Rogan that his bank was taking $28 out of his account every month ‘for no reason’ — here are 3 ‘sneaky’ banking fees and how to avoid them
Bill Burr complained to Joe Rogan that his bank was taking $28 out of his account every month ‘for no reason’ — here are 3 ‘sneaky’ banking fees and how to avoid them Banks are an essentia...
Opinion: Bernanke’s Nobel prize is harmful because it rewards faulty thinking on how banks actually work
The Nobel Memorial Prize awarded to Ben Bernanke, Douglas Diamond and Philip Dybvig is controversial, to say the least. Mainstream economists are generally delighted that the Nobel Committee has at la...
About the Summit – 6th edition Connected Banking West Africa
After the grand success of the previous edition, the 3rd Annual Africa Digital Banking Summit -Innovation and Excellence Awards – which is now rebranded as 6th Edition Connected Banking Southern...
Citigroup Reports Earnings Friday. What to Expect.
Wall Street will be looking for more signs of Citigroup turnaround when the bank posts third-quarter results Friday. Like all banks, Citigroup (ticker: C) has faced challenges this year as it has had ...
JPMorgan Report Earnings Today. What to Expect.
JPMorgan Chase will kick off the third-quarter profit-reporting for the big banks on Friday, and Wall Street is looking ahead to the numbers with tempered expectations. Speaking at a CNBC conference t...
Fed’s benchmark interest rate may peak above 5% after Sept inflation data, some economists think
When the Federal Reserve started to raise its benchmark policy interest rate by super-sized 0.75 percentage points in June this year, a few Fed officials and private sector economists talked about how...
This is how high interest rates might rise, and what could scare the Federal Reserve into a policy pivot
The stock market’s reaction to the latest inflation report Thursday underlined just how confused and fearful investors are. The S&P 500 SPX, +2.60% plunged as much as 3% shortly after the open as ...
Opinion: $22 billion in I-bond sales can’t be wrong. Why you may want to buy them even when their rate resets soon
I-bonds’ sky-high interest rate is poised to fall to 6.48% when they reset next month, according to industry experts. Still, that would be the third-highest level since they were sold in 1998. Though ...
The ‘unexpected’ thing Americans now blame their credit-card debt on
Experts like Suze Orman and Dave Ramsey stress the importance of an emergency fund — and it can help prevent you from going into credit card debt. Getty Images Americans’ credit-card debt rose to $887...
Crypto Banking Platform BVNK Wins Registration in Spain
In an announcement on Thursday, BVNK referred to VASP registration in Spain as a “springboard for expansion” across the European Union (EU). Under the EU’s Markets in Crypto Assets (...
How much should I save each month?
How much should you be saving in your 20s, 30s, 40s and 50s? Getty Images/iStockphoto You know you should save, but (yikes!), just what is the right amount? While there is no perfect answer, there are...
Mortgage Rates Are Soaring. What Financial Pros Say Clients Should Do.
The low-rate mortgage boat has sailed. According to Freddie Mac, the average interest rate on a 30-year fixed-rate home loan is now 6.7%, more than double the 3.01% rate from this time last year. That...
I’m the US chief economist at Vanguard, and here are 5 things investors should consider now amid high inflation
“High inflation is unlikely to become a permanent feature of the economy,” said Vanguard’s U.S. chief economist and head of portfolio construction Roger Aliaga-Diaz. Vanguard Despite the Federal Reser...
Economists debunk the banking system and win the Nobel Prize
Three economists were awarded the Nobel Prize in economic sciences for their decades of research on societal reactions to financial crises and avoiding bank collapses. Three economists were awarded th...
Fed’s Mester says there’s been no progress on inflation, so interest rates need to move higher
With little or no progress made on bringing inflation down, the Federal Reserve needs to continue raising interest rates, Cleveland Fed President Loretta Mester said Tuesday. “At some point, you know,...
Opinion: The stock market is in trouble. That’s because the the bond market is ‘very close to a crash.’
Don’t assume the worst is over, says investor Larry McDonald. There’s talk of a policy pivot by the Federal Reserve as interest rates rise quickly and stocks keep falling. Both may continue. McDonald,...
Stock market’s wild gyrations put earnings in focus as inflation crushes Fed ‘pivot’ hopes
Unrelenting inflation has dashed hopes for a quick pivot away from aggressive interest rate hikes by the Federal Reserve, which in turn is undermining the U.S. corporate earnings outlook for 2023 and ...