State Street Corp. is dismissing 1,500 employees in a push to cut costs and automate more of its business.
U.S. stocks extended gains after a report that the Trump administration is considering lifting tariffs on Chinese imports. The dollar rose and Treasuries fell.
Goldman Sachs Group Inc. shares gained as much as 8.7 percent in Wednesday trading, the most intraday since October of 2011.
The world’s largest asset manager reported assets under management declined 5 percent to $5.98 trillion.
JPMorgan Chase & Co.’s fourth-quarter earnings report initially stung, with a plunge in fixed-income trading revenue that Wolfe Research labeled “very un-JPMorgan-like.”
Money managers know how to buy. What they need to do is to learn how to sell. Most of them are terrible job at it.
The Janus Henderson Global Unconstrained Bond Fund suffered about $60 million of redemptions in December, according to Bloomberg estimates. The outflows lowered the fund’s assets to $950.4 million from February’s all-time high of $2.24 billion.
Despite the aftershocks of the fourth-quarter meltdown still percolating and the feeling that we may be approaching a near-term trading top, many Wall Streeters continue to hold on to their bullish views in the long term.
The fourth-quarter U.S. equity sell-off was nothing more than a “mid-life crisis” that set the stage for further gains in the market, according to Tom Lee, the co-founder of Fundstrat Global Advisors LLC.
Investors should put about 40 percent of their portfolios in non-U.S. stocks and bonds to diversify their holdings, according to top executives at Vanguard Group, the fund giant that manages $4.9 trillion.