Cramer bemoans lack of earnings momentum in stocks: ‘It’s starting to bother me’

CNBC’s Jim Cramer on Wednesday gave his prognosis on the market as many stocks failed to gain trading traction after positive quarterly reports. “Most stocks simply aren’t getting much pin action now for what they do, in part because, well, the market’s had a miraculous run,” the “Mad Money” host said. “That makes everything seem … Read more

Citigroup CEO Jane Fraser says of moves to shrink retail banking footprint: ‘We want to be a winner’

Citigroup CEO Jane Fraser said that she decided to exit the bank’s retail operations in 13 countries outside the U.S. to improve returns. One of the biggest priorities for Fraser, who took over for predecessor Michael Corbat in February, is to bring New York-based Citigroup’s returns closer to those of peers including JPMorgan Chase and Bank … Read more

Facebook-backed Diem aims to launch digital currency pilot later this year

Facebook wanted to revolutionize finance with a global digital currency — then came the regulators. First proposed in June 2019 with the name libra, the token was initially intended to be a universal currency tied to a basket of sovereign currencies such as the U.S. dollar and the euro. But after facing strong opposition from … Read more

Big bank stocks are ‘dirt cheap’ after posting earnings, Jim Cramer says

Big bank earnings are out and the results were positive enough to quell one concern about their valuations, CNBC’s Jim Cramer said Thursday. The stocks of large financial institutions like JPMorgan Chase and Wells Fargo have surged from last summer, far outgaining the market. Cramer, himself an alum of Goldman Sachs‘ investment shop, said their … Read more

Earning season is about to get underway and that could be a positive catalyst for stocks

A man wearing a protective face mask walks by 14 Wall Street in the financial district of New York, November 19, 2020. Shannon Stapleton | Reuters The earnings reporting season gets underway in the week ahead, and it is expected to be a positive catalyst that could continue to send stocks higher for now. The … Read more

How JPMorgan increased the number of Black interns in its Wall Street program by nearly two-thirds

JPMorgan Chase boosted the number of Black and female college students selected for investment bank internships by leaning on technology platforms that help the firm broaden out its campus recruiting efforts, CNBC has learned. The company said that 18% of its corporate and investment bank summer interns in North America are Black this year, a … Read more

SoftBank invests $500 million in digital mortgage lender Better.com

Pedestrians wearing protective masks walk past signage for SoftBank Corp. near a store in Tokyo, Japan, on May 15, 2020. Kiyoshi Ota | Bloomberg | Getty Images SoftBank has invested $500 million in digital mortgage lender Better.com amid what has been a hot U.S. residential real estate and mortgage refinancing market fueled by record low interest … Read more

Goldman Sachs recommends these stocks as the economy roars back to life

A pedestrian passes in front of a Charles Schwab Corp. bank branch in downtown Chicago, Illinois. Christopher Dilts | Bloomberg | Getty Images Investors and strategists expect the economy to roar for the rest of the year. Goldman Sachs has identified the companies that are likely to benefit from the bounce back. Source link

Banks stocks rise after hours as Fed sets date to lift buyback, dividend restrictions

Federal Reserve Jerome Powell testifies during a Senate Banking Committee hearing on “The Quarterly CARES Act Report to Congress” on Capitol Hill in Washington, U.S., December 1, 2020. Susan Walsh | Reuters Bank stocks rose in extended trading on Thursday after the Federal Reserve announced its plan for lifting restrictions on dividends and buybacks from … Read more