Rising uncertainty in markets didn’t stop the biggest U.S. banks from a strong second quarter.
The Vanguard Group published recently its “How America Saves 2018” report, a trove of data on more than 4.9 million retirement savers in 401(k)s, 403(b)s and other defined-contribution plans.
U.S. bank stocks are hurting after disappointing second-quarter results from Wells Fargo and Citigroup, and as JPMorgan’s earnings beat wasn’t enough to boost investor confidence. Analysts are zeroing in on sliding loans and deposits, while Wells Fargo was also hurt by the Federal Reserve’s asset cap.
The Trump bump isn’t dead yet for the biggest U.S. bank.
Stocks advanced, while Treasuries fell as the prospect of more trade talks between the U.S. and China helped settle investors’ nerves.
A four-day, 81-point rally in the S&P 500 lost steam Wednesday, pausing on the eve of one of the best earnings seasons in a decade, as investors got a reminder that the trade war still exists.
It’s going to take more than a dose of yuan weakness and softer metal prices to wreak havoc on global markets this time around.
(Bloomberg) — U.S. equities joined a global rally that began in Asia as investors set aside concern about escalating trade…