Without big Wall Street trading arms, regional banks lean on mortgages and fees to beat earnings
A man walks past the Wall Street Charging Bull in New York, the United States, March 24, 2020. Wang Ying | Xinhua News Agency | Getty Images Several banks reported surprisingly strong second-quarter results during the opening week of earnings...
U.S. home construction jumps 17.3% in June
Construction of U.S. homes jumped 17.3% in June as some states reopened, but the pace still lags last year after this spring’s massive slowdown in building activity due to the coronavirus outbreak. The Commerce Department reported Friday that new homes...
Stocks making the biggest moves in the premarket: Netflix, BlackRock, Microsoft, Lyft & more
Take a look at some of the biggest movers in the premarket: Netflix (NFLX) – The video streaming service saw its bottom line fall 22 cents a share below Wall Street forecasts with quarterly profit of $1.59 per share. Revenue...
The market is at a crossroads with surging coronavirus cases and the election looming, Ally Invest strategist says
One of Wall Street’s top strategists is reining in her summer rally forecast. Ally Invest’s Lindsey Bell cites the spike in coronavirus cases across the country as the main catalyst behind her decision. “In the last couple of weeks, especially...
Homebuilder sentiment jumps back to pre-coronavirus pandemic high
To find a V-shaped recovery from the economic wreckage of the coronavirus pandemic, look to the nation’s single-family homebuilders. Homebuilder sentiment jumped 14 points to 72 in July, according to the National Association of Home Builders/Wells Fargo Housing Market Index....
Weekly jobless claims rise by more than 1 million for 17th straight week
The number of Americans who filed for unemployment benefits rose more than expected last week as the country continues to grapple with the economic impacts of the coronavirus pandemic. Initial weekly jobless claims came in at 1.3 million for the...
U.S. retail sales pop more-than-expected in June
U.S. retail sales increased more than expected in June, but the budding economic recovery is being threatened by a resurgence in new Covid-19 infections and high unemployment. The Commerce Department said on Thursday retail sales rose 7.5% last month. That...
UK digital bank Monzo relaunches premium accounts after original service flopped
Users of Monzo’s premium account, Monzo Plus, will get sent blue cards with holographic foil to make Monzo British financial technology start-up Monzo is giving paid-for checking accounts another go, with a revamped premium service it hopes will help generate...
June retail sales should be strong from a pickup in spending before new virus outbreak slowed activity
A shopper walks with bags of purchases in New York. John Lamparski | SOPA Images | Getty Images Retail sales in June are expected to have gained 5.2% as the economy reopened, but sales could have trailed off towards the...
Stocks making the biggest moves midday: Moderna, Royal Caribbean Cruises, Gap, PVH & more
A view of Moderna headquarters on May 08, 2020 in Cambridge, Massachusetts. Moderna was given FDA approval to continue to phase 2 of Coronavirus (COVID-19) vaccine trials with 600 participants. Maddie Meyer | Getty Images Check out the companies making...
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