U.S. Banks Point to Resilient but Slowing Economy, Flag Risks Ahead

StreetInsider2023-07-14

Some of the largest U.S. banks got a profit boost from higher interest rates and pointed to early signs of recovery in investment banking but warned that the economy was slowing and losses would ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（2）

SLabcd
·2023-07-14
Banks r not depend on profit. Depend on project only
Reply
1
Report
SLabcd
·2023-07-14
Insider? 😀😀😀
Reply
Like
Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/2351251561?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-07-14 21:59","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2351251561","market":"us","top_or_hot":-1,"title":"U.S. Banks Point to Resilient but Slowing Economy, Flag Risks Ahead","media":"StreetInsider","content":"<div>\n<p>Some of the largest U.S. banks got a profit boost from higher interest rates and pointed to early signs of recovery in investment banking but warned that the economy was slowing and losses would ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=21909054\">Source Link</a>\n\n</div>\n","source":"highlight_streetinsider","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. Banks Point to Resilient but Slowing Economy, Flag Risks Ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. Banks Point to Resilient but Slowing Economy, Flag Risks Ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-07-14 21:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=21909054><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Some of the largest U.S. banks got a profit boost from higher interest rates and pointed to early signs of recovery in investment banking but warned that the economy was slowing and losses would ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=21909054\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"JPM","symbol_name":"摩根大通","start_time":0,"source_url":"https://www.streetinsider.com/dr/news.php?id=21909054","article_id":"2351251561","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2351251561","pubTimestamp":1689343151,"sourceInfo":{"source_id":"highlight_streetinsider","name":"StreetInsider"},"weMediaInfo":null,"summary":"Some of the largest U.S. banks got a profit boost from higher interest rates and pointed to early signs of recovery in investment banking but warned that the economy was slowing and losses would incre","collect":0,"end_time":0,"defaultTopTitle":"streetinsider.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"JPM":"摩根大通","WFC":"富国银行","C":"花旗"},"translate_title":"美国银行指出经济有弹性但放缓，预示未来风险","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"C":1.1,"JPM":0.71,"WFC":0.71},"content_text":"Some of the largest U.S. banks got a profit boost from higher interest rates and pointed to early signs of recovery in investment banking but warned that the economy was slowing and losses would increase in commercial real estate.In their earnings on Friday, JPMorgan Chase and Wells Fargo reported sharp increases in net interest income, which measures the difference between what banks earn on loans and pay out on deposits, that drove up profits.Citigroup, meanwhile, said profit tumbled 36% in the second quarter as weakness in the bank's trading business blunted gains from its personal banking and wealth management.JPMorgan Chase and Wells Fargo rose while Citi slid in morning trading.U.S. consumers still have a healthy balance sheet, the banks said, but warned spending was slowing and there had been a modest deterioration in some consumer debt.\"The U.S. economy continues to be resilient,\" JPMorgan Chief Executive Jamie Dimon said. But he added that consumers are \"slowly using up their cash buffers.\"On a conference call, the largest U.S. bank's chief financial officer, Jeremy Barnum, said loan growth demand is muted apart from cards and auto segments. The CFO added that the bank was seeing \"green shoots\" in trading and investment banking but it was too early to call a trend.There have been growing worries around the health of the U.S. economy against a backdrop of aggressive interest rate hikes by the Federal Reserve and high inflation. Investors have worried that high interest rates could push the economy into a recession, but the outlook remains uncertain.Wells CEO Charlie Scharf said the range of scenarios for the economy should narrow over the next few quarters. For now, the economy is performing better than many expected but will likely continue slowing.Wells Fargo said consumer charge-offs, meaning debts that a bank has written off and does not expect to recover, continued to modestly deteriorate.Wells also reported that provision for credit losses included a $949 million increase in the allowance, mainly for potential losses in commercial real estate (CRE) office loans, as well as for higher credit card loan balances.\"While we haven’t seen significant losses in our office portfolio to-date, we are reserving for the weakness that we expect to play out in that market over time,\" Scharf said.Bank of America and Morgan Stanley will announce their results on July 18, followed by Goldman Sachs on July 19.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":197888278900848,"gmtCreate":1689346935784,"gmtModify":1689346939319,"author":{"id":"3561687131790412","authorId":"3561687131790412","name":"SLabcd","avatar":"https://static.tigerbbs.com/ee729bc8a6e8b42e7c9da20e9bbab6b8","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3561687131790412","authorIdStr":"3561687131790412"},"htmlText":"Banks r not depend on profit. Depend on project only&nbsp;","listText":"Banks r not depend on profit. Depend on project only&nbsp;","text":"Banks r not depend on profit. Depend on project only","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/197888278900848","repostId":2351251561,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":197888137383960,"gmtCreate":1689346868216,"gmtModify":1689346871513,"author":{"id":"3561687131790412","authorId":"3561687131790412","name":"SLabcd","avatar":"https://static.tigerbbs.com/ee729bc8a6e8b42e7c9da20e9bbab6b8","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3561687131790412","authorIdStr":"3561687131790412"},"htmlText":"Insider? 😀😀😀","listText":"Insider? 😀😀😀","text":"Insider? 😀😀😀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/197888137383960","repostId":2351251561,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":10,"commentSize":2,"repostSize":2,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false}}