Today's Business Headlines: 7/12/24
and interest rates may stay higher for longer than expected, even as three of the biggest US banks posted solid quarterly results.
The stock market shook off any concerns voiced by Dimon or the latest inflation gauge. The Dow soared more than 400 points andBeloved grocery store chain will shutter 7 NYC-area stores, 32 overallVideo game billionaire calls for Biden to bow out as Dem donor support dwindles “The geopolitical situation remains complex and potentially the most dangerous since World War II — though its outcome and effect on the global economy remain unknown,” Dimon said.“We continued to see growth in our fee-based revenue offsetting an expected decline in net interest income,” CEO Charlie Scharf said in a statement.Adjusted earnings per share were $1.52, surpassing LSEG analysts’ expectations of $1.39.
Banks Citigroup Inflation Interest Rates Jamie Dimon Jpmorgan Chase Wall Street Wells Fargo
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