BlackRock, the world’s biggest asset manager, announced Friday it is buying Global Infrastructure Partners for about $12 billion in cash and stock.
Chinese rival to Apple’s Vision Pro raises $70 million, doubles down on new strategy to win consumers
Chinese augmented reality glasses company Rokid announced it raised 500 million yuan ($70 million) in a funding round led by the government of Hefei city.
Citigroup posts $1.8 billion fourth-quarter loss after litany of charges
Citigroup CEO Jane Fraser announced plans for a sweeping corporate reorganization in September after previous efforts failed to boost the bank’s share price.
Wells Fargo posts higher fourth-quarter profit, helped by higher interest rates and cost cutting
Wells Fargo shares fell Friday even after fourth-quarter profit rose from a year ago.
JPMorgan Chase profit falls after $2.9 billion fee from regional bank rescues
JPMorgan is watched closely for clues on how banks fared amid volatile interest rates and rising loan losses.
Bank of America shares fall after company reports lower fourth-quarter profit, hit by regulatory charge
Bank of America’s net income fell to $3.1 billion in the fourth quarter, from $7.1 billion a year ago.
Delta more than doubles fourth-quarter profit, but trims 2024 earnings forecast
Delta is the first of the major U.S. carriers to report earnings this period.
Rates may be higher and inflation may be stickier than markets expect, says Jamie Dimon
A miss on both earnings and revenue isn’t a good sign (the same goes for BofA earnings as well today) and that is arguably what is weighing further on stocks right now. In any case, Jamie Dimon’s remark as per the headline above also serves as a warning and that is taking some of the enthusiasm out of markets after the reaction to the CPI data yesterday.
This article was written by Justin Low at www.forexlive.com.
US futures nudge lower as the post-CPI push and pull continues
US futures are now down near the lows for the day, with S&P 500 futures falling by 0.4% ahead of US trading. This comes as Treasury yields are keeping steadier, with 10-year yields up 1.7 bps to 3.989% on the day. The drop comes as the big banks are releasing earnings, adding to the post-CPI push and pull play out across markets.
All of this is keeping the dollar a touch firmer as well now with EUR/USD down 0.2% to 1.0948 and GBP/USD down 0.2% as well to 1.2730 on the day. USD/JPY did push lower to 144.90 earlier in the session but is now back to flat levels around 145.23 currently.
The dollar’s advance is not a uniform one though, as gold is up to session highs at around $2,045 – up 0.8% on the day – and looking to push past key near-term resistance as highlighted here. Meanwhile, tensions in the Middle East continue to fuel the rally in oil with WTI crude up over 4% to near $75 at the moment.
This article was written by Justin Low at www.forexlive.com.
ONS says January labour market data to continue to use recent adjusted series
This is yet again another heads up to the upcoming UK labour market report that will be released next week. This has been an ongoing thing since October already as seen here. As noted at the time, ONS says that the data will feature „a new series using additional data sources to produce adjusted levels and rates for employment, unemployment and inactivity“.
To add to the headline above, ONS says that a fuller release of the UK labour market statistics should come in February.
This article was written by Justin Low at www.forexlive.com.