Citizens Financial exceeded expectations for its second-quarter profit, reporting strong results due to the boost in capital markets fees. The surge in fees, up by 63%, was primarily driven by bond underwriting and loan syndication activities. This positive trend mirrors the quarterly reports of larger competitors such as Bank of America and JPMorgan Chase, indicating
HSBC made a significant announcement on Wednesday with the appointment of Georges Elhedery as the new group CEO, starting on September 2. This decision comes after the departure of Noel Quinn, who has been leading the company for nearly five years. Elhedery, who currently serves as the chief financial officer, will take over the role
The gold market witnessed a remarkable surge on Tuesday, with gold futures hitting a record high of $2,465.30, surpassing the previous peak set in May. This significant jump can be attributed to the growing anticipation of a September interest rate cut, which has fueled demand for bullion. As spot gold reached an all-time high of
Argentina’s dollar-denominated bonds faced significant challenges this week, as all restructured bonds experienced a decline in price by over 1 cent. This drop comes on the heels of investor concerns surrounding the government’s decision to sell dollars and its potential impact on reserve accumulation. The 2035 maturity bond bore the brunt of the fall with
The recent influx of $1.04 billion into Bitcoin Spot ETFs has sparked a renewed sense of confidence among investors in the cryptocurrency market. This surge in investment indicates a positive sentiment towards Bitcoin and may signal a potential short-term increase in its price. As more market participants diversify their crypto holdings, the approval of an
BlackRock, a major player in the asset management industry, reported a 10% increase in profits in the second quarter. This growth was primarily driven by the strong performance of its Exchange-Traded Funds (ETFs), which saw record inflows in the first half of the year. The company achieved a milestone by reaching $10.6 trillion in assets
The recent comments made by Federal Reserve Chair Jerome Powell have had a significant impact on the dollar, causing it to hover around five-week lows. Powell’s remarks have bolstered the case for a rate cut in September, leading to a shift in rate cut expectations among market participants. This has resulted in the dollar index
The USD/JPY pair is showing an upward trend, currently trading around 158.30 during the early Asian trading session. This rise can be attributed to the slight recovery in the US Dollar (USD) market. Investors are closely monitoring the US June Retail Sales data and eagerly anticipating the speech by Federal Reserve Chair, Adriana Kugler, for
Goldman Sachs has reported second-quarter earnings of $8.62 per share, exceeding the estimated $8.34 per share. Additionally, the company’s revenue came in at $12.73 billion, surpassing the $12.46 billion estimate. This strong performance comes as a result of better-than-expected fixed income results. The bank’s profit soared by 150% from the previous year to $3.04 billion,
In the aftermath of the attempted assassination of former President Donald Trump at a rally in Pennsylvania, the leaders of Wall Street’s most powerful firms have spoken out against the violence. JPMorgan Chase CEO Jamie Dimon expressed deep sadness over the incident and called for unity in the face of hate and intimidation. Similarly, Goldman
The GBP/USD pair continued its strong momentum on Monday, reaching new yearly highs and trading just below the key psychological barrier of 1.30. However, despite the bullish run of the past two weeks, there are signs that the pair may be losing steam as it faces resistance at the 1.30 level. Daily studies indicate that
In the recent analysis of the Nikkei 225 chart, it was reported that the index was experiencing a significant upward trend, as indicated by the blue channel. The price had surged to a yearly high above 42,500 points on 10th July, following a notable increase of more than 6%. However, a subsequent decline occurred after
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