Finance

JPM, WFC, GS Earnings: The Economy Is Strong, But…

It's a mixed bag. TheStreet breaks it down. Let's go bank by bank. JPMorgan JPMorgan beat revenue and earnings per share expectations, posting revenue of $29.6 billion and EPS of $2.59. Analysts were looking for $28.9 billion and $2.50. CEO Jamie Dimon mentioned the strong credit card and consumer business, saying there was strong consumer spending in the quarter. That's a great sign for the economy. Lower interest rates are still likely for July, but JPMorgan's consumer results are certainly a good sign. On the not-so-great side, the bank lowered its guidance on net interest income, or the total amount of gross profit generated from lending. That could indicate there will be fewer loans than previously expected, but it certainly reflects lower interest rates, as the Federal Reserve has indicated it will lower rates to stimulate the economy. Wells Fargo Wells Fargo reported revenue of $21.58 billion, beating expectations of $20.93 billion. Earnings per share was $1.30, beating estimates of $1.30. Management said its lending and consumer business also performed handsomely, another indication that while the U.S. economy is decelerating, it's on strong footing. Goldman Sachs Goldman Sachs beat on both top and bottom lines. Revenue was $9.46 billion, beating estimates of $8.83 billion. EPS was $5.81, better than the expected $4.89. Goldman is less directly exposed to the consumer, and its biggest business, investment banking posted strong numbers, good news for Goldman investors. Investment banking revenue was $1.86 billion, beating expectations of $1.77 billion. JPM and GS are holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells these? Learn more now. What the Upcoming Earnings Season Means for Investors

Fed survey finds widespread concerns over trade

Latest Fed survey finds economy growing modestly despite widespread concerns over Trump trade policies

Big losses for railroads pull industrial…

Stock indexes were posting slight losses in afternoon trading on Wall Street Wednesday as a weak showing for railroad operator CSX pulled industrial companies broadly lower

Men who lost family members in Max crash seek…

A man whose family was killed in the crash of a Boeing 737 Max jet in Ethiopia accused the company of wrongful conduct and told a U.S. House subcommittee that the process to approve aircraft must be strengthened

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The Latest: Man who lost daughter questions FAA inspections

A man whose daughter was killed when an Ethiopian Airlines Boeing 737 Max crashed in March called on legislators to end the Federal Aviation Administration's use of aircraft manufacturer employees to conduct safety inspections

Markets Right Now: Industrial stocks lead US indexes lower

Stock indexes are slightly lower in midday trading on Wall Street as a weak showing for railroad operator CSX pulled industrial companies broadly lower.

Real estate agents use digital strategy to get buyers

When the internet replaced newspapers as a primary way to advertise homes and other property for sale, real estate brokers learned they had to be increasingly strategic about marketing online

Kohl's kicks off hiring for back-to-school, holiday seasons

Kohl's says early wave of hires for second half of the year is across 500 stores, nearly double last year's number

US home construction slips 0.9% to 1.25 million…

US home construction slides 0.9% to 1.25 million in June on big drop in apartment buiding

US home construction slips 0.9% to 1.25 million in June; apartment building drops sharply

US home construction slips 0.9% to 1.25 million in June; apartment building drops sharply

Bank of America earns $7.4B in 2Q, beating…

Bank of America 2Q profits rise, beating expectations, helped by higher interest rates and under control costs

Asian stocks mixed as Wall Street ends 5-day…

Asian stocks are mixed as Wall Street ends a five-day winning streak after the first big round of corporate earnings reports

Despite grounding of Boeing plane, United 2Q…

United Airlines overcame the grounding of its Boeing Max planes to increase second-quarter profit by 54%, to more than $1 billion

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Business Highlights

Business Highlights

Wells Fargo 2Q results beat Street estimates

Wells Fargo posts decline in 2Q interest income but profit tops estimates

CSX 2Q profit down 1% on weaker volume

CSX second-quarter profit slipped 1%, falling short of what Wall Street expected as the railroad hauled 4% less freight

How major US stock indexes fared Tuesday

Stocks end broadly lower on Wall Street, breaking a five-day winning streak for the S&P 500 index

Domino's, Arrow fall while Blue Apron, Charles Schwab rise

Domino's, Arrow fall while Blue Apron, Charles Schwab rise

Trump administration blasts WTO ruling on China

Trump's trade representative blasts WTO ruling on state subsidies

Barneys New York evaluating restructuring options

Barneys New York evaluating its options including a potential bankruptcy

Markets Right Now: Stocks break a 5-day winning streak

Stocks end broadly lower on Wall Street, breaking a five-day winning streak for the S&P 500 index.

Powell says financial crisis accelerated economic…

Fed Chairman Powell says 2008 financial crisis accelerated major changes in U.S. and global economies

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Domino's 2Q sales fall short as rival delivery services bite

Domino's Pizza sales fell short in 2Q as competing delivery services took a bite

6 minutes: Man haunted by family's final moments…

A man whose wife and children were killed on a Boeing 737 Max will appear at the next congressional hearing into the company and its plane

US industrial production unchanged in June

US industrial production flat in June, as slump in utilities offset by output gains at factories and mines