Following the attempted assassination of former President Donald Trump at a Pennsylvania rally, the leaders of Wall Street’s most powerful firms have spoken out against the violent act. JPMorgan Chase CEO Jamie Dimon expressed deep sadness and condemned the violence, emphasizing the importance of standing together against hate, intimidation, and violence that undermine democracy. Goldman
Finance
Goldman Sachs reported impressive results on Monday, surpassing profit and revenue estimates. The company posted earnings of $8.62 per share, exceeding the $8.34 per share estimate from LSEG. Additionally, revenue came in at $12.73 billion, beating the $12.46 billion estimate. The bank’s second-quarter profit soared by 150% compared to the previous year, reaching $3.04 billion
China’s National Bureau of Statistics recently announced that the country’s second-quarter GDP saw a year-on-year increase of 4.7%, falling short of the expected 5.1% growth rate. This revelation was met with disappointment by analysts and investors who were hoping for a stronger performance from the world’s second-largest economy. Furthermore, June retail sales figures failed to
Wells Fargo recently announced a 9% decline in net interest income, despite surpassing Wall Street’s expectations for second-quarter earnings and revenue. Analysts had predicted earnings per share of $1.29 cents, but the bank reported $1.33 per share. Similarly, revenue came in at $20.69 billion, higher than the expected $20.29 billion. However, the net interest income
JPMorgan Chase CEO Jamie Dimon recently reiterated his concerns about inflation, despite some recent signs of relief in price pressures. Dimon highlighted various factors contributing to inflation such as fiscal deficits, infrastructure needs, trade restructuring, and global remilitarization. He cautioned that these factors could keep inflation and interest rates elevated beyond market expectations. While recent
In June, China faced a setback in its import numbers, with a decline of 2.3% in U.S. dollar terms compared to the previous year. This result fell short of expectations for even slight growth, as a Reuters poll had forecasted a 2.8% increase. The lackluster performance in imports has raised concerns about the state of
China has been making significant progress in the development and adoption of robotaxis in recent years. Companies like Baidu’s Apollo Go are leading the way in offering fully autonomous taxi rides to the public. This growing trend has caught the attention of consumers, as indicated by the increasing popularity of robotaxi experiences on social media
Cryptocurrency exchange-traded funds are gaining traction on Wall Street, with a new wave of ethereum ETFs on the horizon. This development comes as Spot ether ETFs are set to enter the market pending approval from the U.S. Securities and Exchange Commission. Matthew Hougan, the chief investment officer of Bitwise Asset Management, is optimistic about the
The recent discussion around potential interest rate cuts by the U.S. Federal Reserve has sparked concerns about the implications for international travelers. The relationship between interest rate policies and the strength of the U.S. dollar is a critical factor to consider. If interest rates are reduced, it could lead to a weaker dollar, making traveling
Renowned investor Bill Gross has voiced his concerns regarding Tesla’s recent behavior in the market. He believes that Tesla is starting to exhibit traits of a speculative play among retail investors, comparing it to a meme stock with sagging fundamentals and volatile price action. Despite concerns raised by Gross, Tesla has been on a remarkable