Major US Banks Report Strong Q1 Earnings
Major U.S. banks, including Morgan Stanley and Bank of America, reported strong first-quarter earnings, with BofA notably avoiding a single daily trading loss. These positive results contributed to advances in the S&P 500 and Nasdaq as earnings season began.
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S&P 500, Nasdaq advance on earnings and Middle East optimism - Reuters
S&P 500, Nasdaq advance on earnings and Middle East optimism Reuters
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BofA Discloses $20 Billion of Loans to Private-Credit Firms Bloomberg.com
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Six lenders, including Bank of America, Morgan Stanley and JP Morgan report jump in first-quarter earnings Business live – latest updates Big US banks raked in nearly $50bn (£37bn) worth of profits in the first three months of the year, as they benefited from stock market turbulence triggered by the US-Israeli war on Iran. Wall Street’s largest lenders have reported a jump in first-quarter earnings, reflecting the surge in demand for trading services as investors dumped risky stocks and bon...
By Kalyeena Makortoff
Read full article →Morgan Stanley beats Wall Street earnings forecasts — by a long way
The banking giant posted earnings per share of $3.43, compared to forecasts of $3.02.
By Nora Redmond
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Read full article →BofA Sees Customer Gas Spending Jump 16%, But Discretionary Spending Holds Up
BofA Sees Customer Gas Spending Jump 16%, But Discretionary Spending Holds Up The national average for 87-octane gasoline has remained above the politically sensitive $4-a-gallon level for two straight weeks after the largest monthly jump in AAA data going back two decades. The fuel shock has Wall Street analysts focused on whether surging pump prices will begin crowding out discretionary spending. Bank of America CFO Alastair Borthwick told analysts on a conference call earlier...
By Tyler Durden
Read full article →BofA Discloses $20 Billion of Loans to Private-Credit Firms
Bank of America Corp. disclosed it has about $20 billion in private-credit exposure, as the bank and its Wall Street peers seek to calm concerns about the industry’s exposure to the asset class.
By Katherine Doherty
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