Bank of America‘s customers are spending freely on dining, entertainment and other experiences, which in turn supports U.S. employment, CEO Brian Moynihan told CNBC’s Becky Quick. The bank’s customers boosted spending by 8% in the first three months of this year compared with the year-earlier period, Moynihan told Quick on Tuesday. “They’re spending on things…
The Lockheed Martin logo is seen on a building in Annapolis Junction, Maryland, on March 11, 2019. Jim Watson | AFP | Getty Images Check out the companies making headlines in midday trading. Lockheed Martin – Shares of the aerospace and defense contractor gained more than 2% on Tuesday after it beat Wall Street’s expectations…
Atlanta Federal Reserve President Raphael Bostic said Tuesday he envisions the central bank approving one more interest rate increase before pausing to see how policy tightening is impacting the economy. “One more move should be enough for us to then take a step back and see how our policy is flowing through the economy, to…
Netflix reports earnings after the bell Tuesday and traders know that pretty much all that matters to the stock is how many subscribers did the streamer add for the prior period. The stock has been on a roll the last three quarters as Netflix posted an increase in net global subscriptions that, each time, significantly…
Brian Moynihan, chief executive officer of Bank of America Corp., during a panel session on corporate ESG standards at the World Economic Forum in Davos, Switzerland, on Wednesday, Jan. 18, 2023. Bloomberg | Bloomberg | Getty Images Bank of America CEO Brian Moynihan said Tuesday he sees only a slight recession hitting the U.S. as…
In this photo illustration, a container of Johnson and Johnson baby powder is displayed on April 05, 2023 in San Anselmo, California. Justin Sullivan | Getty Images Check out the companies making headlines before the bell on Tuesday. Goldman Sachs — The investment bank said first quarter revenue totaled $12.22 billion, below the $12.79 billion…
Brian Moynihan, CEO of Bank of America, speaking on Squawk Box at the WEF in Davos, Switzerland on Jan. 17th, 2023. Adam Galica | CNBC Bank of America on Tuesday reported first-quarter earnings and revenue that topped expectations on the back of higher interest rates. Here’s what the bank did compared to Wall Street estimates…
Britain could introduce specific laws aimed at regulating the cryptocurrency industry in the next 12 months, a top lawmaker told CNBC. The U.K. government laid out plans in February to regulate crypto assets and opened its suggestions up for consultation. The consultation period ends Apr. 30. Andrew Griffith, economic secretary to the U.K. Treasury, said…
David Solomon, chief executive officer of Goldman Sachs Group Inc., during a Bloomberg Television at the Goldman Sachs Financial Services Conference in New York, US, on Tuesday, Dec. 6, 2022. Michael Nagle | Bloomberg | Getty Images Goldman Sachs is scheduled to report first-quarter earnings before the opening bell Tuesday. Here’s what Wall Street expects:…
Wall Street may be ripping a page out of the post-WWII era. According to RBC Capital Markets’ Lori Calvasina, stocks may be ignoring all signs of a recession. related investing news “If you go all the way back to 1945, that was the recession coming out of World War II, the stock market just marched…
