Sign at the entrance to a Wells Fargo bank in Manhattan. Erik Mcgregor | Lightrocket | Getty ImagesWells Fargo’s profit rose in the third quarter on higher income from interest payments.The fourth-largest U.S. lender’s net income was $5.59 billion, or $1.66 per share, in the three months ended September 30, it said on Tuesday. That compares with $5.11 billion, or $1.42 per share, a year earlier.U.S. banks have benefited from the Federal Reserve’s rate cuts, which have eased deposit costs — the interest paid to customers for holding their savings.Net interest income — the difference between what the bank earns…
Author: usaeverydaylife
A select few stocks are poised to benefit as national security becomes a top concern for President Donald Trump’s administration, according to Morgan Stanley traders. After China tightened export controls on rare earths and related technologies, Trump took to his Truth Social platform on Friday to express his dissatisfaction, writing that China was “becoming very hostile.” Stocks sold off across the board after the president said that the United States would impose new tariffs of 100% on imports from China. As worldwide trade tensions escalate, the theme of deglobalization has also accelerated. On Monday, JPMorgan said that it would invest…
A Chevrolet Silverado EV and a Chevrolet Brightdrop, which is assembled in Canada, are seen on display at the Canadian International AutoShow in Toronto, Ontario, Canada, February 13, 2025. Carlos Osorio | ReutersDETROIT — General Motors’ third-quarter results next week will include a $1.6 billion impact from its all-electric vehicle plans not playing out as planned. The Detroit automaker Tuesday morning in a public filing said $1.2 billion of the impact will be non-cash charges as a result of adjustments to its EV capacity. The other $400 million in cash is primarily related to contract cancellation fees and commercial settlements associated with…
U.S. President Donald Trump gestures as he poses next to a sign before a family photo at a world leaders’ summit on ending the Gaza war, amid a U.S.-brokered prisoner-hostage swap and ceasefire deal between Israel and Hamas, in Sharm el-Sheikh, Egypt, Oct. 13, 2025. Suzanne Plunkett | ReutersU.S. President Donald Trump was in a bullish mood as he and other global leaders in Egypt signed on Monday the first phase of the Gaza ceasefire agreement, seen as a precursor to a possible peace deal between Hamas and Israel.”This took 3,000 years to get to this point, can you believe…
Sam Altman didn’t set out to compete with Nvidia. OpenAI began with a simple bet that better ideas, not better infrastructure, would unlock artificial general intelligence. But that view shifted years ago, as Altman realized that more compute, or processing power, meant more capability — and ultimately, more dominance. On Monday morning, he unveiled his latest blockbuster deal, one that moves OpenAI squarely into the chipmaking business and further into competition with the hyperscalers.OpenAI is partnering with Broadcom to co-develop racks of custom AI accelerators, purpose-built for its own models. It’s a big shift for a company that once believed intelligence…
In an aerial view, a container ship arrives at the Port of Oakland on October 10, 2025 in Oakland, California. U.S. President Donald Trump is threatening to impose a massive increase of tariffs on Chinese imports in response to China’s announcement of new export controls on rare earths. China controls an estimated 70% of the global supply of rare earths minerals.Justin Sullivan | Getty Images News | Getty Images Source link
European fixed income markets offer a range of trading opportunities for investors, with the region’s collateralized loan obligation space now emerging as a key alpha-generating play, according to BlackRock . “If there’s one area where I think real value is, or the best relative value, it’s in a somewhat niche area, which is in the CLO credit markets,” James Turner, co-head of global fixed income in EMEA, told CNBC’s “Squawk Box Europe” Monday. A collateralized loan obligation, or CLO, consists of a pool of corporate loans of varying credit worthiness bundled together and sliced into a series of tranches. Each…
Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019.Aly Song | ReutersBEIJING — The flare-up in tensions between the U.S. and China over the weekend highlights the deepening mistrust dividing the world’s two biggest economies.In the two days after Beijing ended its Golden Week holiday on Wednesday, the country announced a new framework for restricting rare earths exports, placed more U.S. companies on a blacklist and charged U.S.-linked ships with fees for docking at Chinese ports.U.S. President Donald Trump then threatened 100% more tariffs on…
U.S. President Donald Trump gestures as he poses next to a sign before a family photo at a world leaders’ summit on ending the Gaza war, amid a U.S.-brokered prisoner-hostage swap and ceasefire deal between Israel and Hamas, in Sharm el-Sheikh, Egypt, Oct. 13, 2025. Suzanne Plunkett | Reuters This might not be Christmas, but the war in the Middle East is over — at least according to U.S. President Donald Trump.On Monday, Trump declared at the Knesset, Israel’s parliament, that the “long and painful nightmare” was finally over for both the Israelis and Palestinians. More straightforwardly, Trump gave an…
A SK Hynix Inc. 12-layer HBM3E memory chip displayed at the Semiconductor Exhibition in Seoul, South Korea. Bloomberg | Bloomberg | Getty ImagesChip stocks bounced on Monday, clawing back losses from Friday’s market rout as OpenAI announced another computing deal with a major chipmaker and U.S.-China tensions eased.OpenAI and Broadcom announced a deal to develop custom artificial intelligence chips. The Sam Altman-led startup has recently inked agreements with Nvidia and Advanced Micro Devices.Broadcom shares bounced 10% on the news.Over the weekend, President Donald Trump tried to calm worries about China in a post on Truth Social, saying it “will all…
