net_left Kdata adver left

U.S. banks get ready for shrinking profits and recession

Tuesday, January 10, 2023
let atwWrapper,atwContainerWidth,atwSliderBox,atwTotalWidth; function initATWSlider() { atwWrapper = $('.relatedInstruments'); atwSliderBox = atwWrapper.find('.slider'); atwContainerWidth = atwWrapper.width(); atwTotalWidth = atwSliderBox.width(); if(window.domainId === '2' || window.domainId === '3'){ atwWrapper.find('.sliderRight').addClass('js-slider-prev'); atwWrapper.find('.sliderLeft').addClass('js-slider-next'); } else { atwWrapper.find('.sliderRight').addClass('js-slider-next'); atwWrapper.find('.sliderLeft').addClass('js-slider-prev'); } if(atwSliderBox.find('.instrumentBox').length > 6){ atwWrapper.find('.js-slider-next').fadeIn(600); } } function atwMoveRight() { atwWrapper.find('.js-slider-prev').fadeIn(150); $(".slider > :visible:first").hide(150) $(".slider > :visible:last").next().show(150); if(!$(".slider > :visible:last").next().find('.name')()){ atwWrapper.find('.js-slider-next').fadeOut(150); return; } } function atwMoveLeft() { atwWrapper.find('.js-slider-next').fadeIn(150); $(".slider > :visible:last").hide(150); $(".slider > :visible:first").prev().show(150); if(!$(".slider > :visible:first").prev().find('.name')()){ atwWrapper.find('.js-slider-prev').fadeOut(150); return; } } initATWSlider(); //update star icon on adding/removing instrument to/from specific watchlist atwWrapper.on('click', 'label.addRow', function() { let parent = $(this).parent(); let checkedPortfolio = false; parent.find('input[type=checkbox]').each(function () { if($(this).is(':checked')){ checkedPortfolio = true; } }); let closestStar = $(this).closest('.addToPortWrapper').find('.star'); if(checkedPortfolio){ closestStar.addClass('added'); }else{ closestStar.removeClass('added'); } }); //update star icon on creating new watchlist atwWrapper.find('.js-create-watchlist-portfolio').find('a.js-create').on('click',function () { let parent = $(this).parent(); let watchlistName = parent.find('input[type=text]').val(); if(!watchlistName){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); //update star icon on adding new position atwWrapper.find('.js-create-holdings-portfolio').find('.js-submit').on('click',function () { let addPositionForm = $(this).closest('.addToPortfolioPop').find('.holdingsContent'); let amount = addPositionForm.find('.js-amount').val(); if(amount < 1){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); atwWrapper.find('.instrumentBox').find('.shortInfo').on('click',function () { if(!window.ga){ return; } let pairId = $(this).parent().find('.js-add-to-portfolio').attr('data-pair-id'); let pairType = window.atwPairTypes[pairId]; window.ga('allSitesTracker.send', 'event', 'content', 'symbol link clicked', '', { "dimension147":"symbol_link_clicked", "dimension163":"click", "dimension148":"symbol", "dimension162":"content add to watchlist", "dimension161":"article page", "dimension142":"article", "dimension75":pairType, "dimension138":pairId, "dimension118":"2976719" }); window.open($(this).attr('data-href')); }); window.atwPairTypes = {"8946":"Equities","8056":"Equities","7992":"Equities","267":"Equities","266":"Equities","243":"Equities","241":"Equities"};

By Saeed Azhar, Niket Nishant and Lananh Nguyen

NEW YORK (Reuters) - U.S. banking giants are forecast to report lower fourth quarter profits this week as lenders stockpile rainy-day funds to prepare for an economic slowdown that is battering investment banking.

Four American banking giants -- JPMorgan Chase & Co (NYSE:JPM), Bank of America Corp (NYSE:BAC), Citigroup Inc (NYSE:C) and Wells Fargo (NYSE:WFC) & Co -- will report earnings on Friday.

Along with Morgan Stanley (NYSE:MS) and Goldman Sachs (NYSE:GS), they are the six largest lenders expected to amass a combined $5.7 billion in reserves to prepare for soured loans, according to average projections by Refinitiv. That is more than double the $2.37 billion set aside a year earlier.

"With most U.S. economists forecasting either a recession or significant slowdown this year, banks will likely incorporate a more severe economic outlook," said Morgan Stanley analysts led by Betsy Graseck in a note.

The Federal Reserve is raising interest rates aggressively in an effort to tame inflation near its highest in decades. Rising prices and higher borrowing costs have prompted consumers and businesses to curb their spending, and since banks serve as economic middlemen, their profits decline when activity slows.

The six banks are also expected to report an average 17% drop in net profit in the fourth quarter from a year earlier, according to preliminary analysts' estimates from Refintiv.

Graphic: Big U.S. banks' profits expected to plunge in Q4 https://www.reuters.com/graphics/USA-BANKS/dwvkdarqjpm/chart.png

Still, lenders stand to gain from rising rates that allow them to earn more from the interest they charge borrowers.

Investors and analysts will focus on bank bosses' commentary as an important gauge of the economic outlook. A parade of executives has warned in recent weeks of the tougher business environment, which has prompted firms to slash compensation or eliminate jobs.

Goldman Sachs will start laying off thousands of employees from Wednesday, two sources familiar with the move said Sunday. Morgan Stanley and Citigroup, among others, have also cut jobs after a plunge in investment-banking activity.

The moves come after Wall Street dealmakers handling mergers, acquisitions and initial public offerings faced a sharp drop in their businesses in 2022 as rising interest rates roiled markets.

Global investment banking revenue sank to $15.3 billion in the fourth quarter, down more than 50% from a year-earlier quarter, according to data from Dealogic.

Consumer businesses will also be a key focus in banks' results. Household accounts have been propped up for much of the pandemic by a strong job market and government stimulus, and while consumers are generally in good financial shape, more are starting to fall behind on payments.

"We're exiting a period of extraordinarily strong credit quality," said David Fanger, senior vice president, financial institutions group, at Moody's (NYSE:MCO) Investors Service.

At Wells Fargo, the fallout from a fake accounts scandal and regulatory penalties will continue to weigh on results. The lender expected to book an expense of about $3.5 billion after it agreed to settle charges over widespread mismanagement of car loans, mortgages and bank accounts with the U.S. Consumer Financial Protection Bureau, the watchdog's largest-ever civil penalty.

Analysts will also watch if banks such as Morgan Stanley and Bank of America book any writedowns on the $13-billion loan to fund Elon Musk's purchase of Twitter.

More broadly, the KBW index of bank stocks is up about 4% this month after sinking almost 28% in the last year.

While market sentiment took a sharp turn from hopeful to fearful in 2022, some large banks could overcome the most dire predictions because they have shed risky activities, wrote Susan Roth Katzke, an analyst at Credit Suisse.

"We see more resilient earning power through the cycle after a decade of de-risking," she wrote in a note. "We cannot dismiss the fundamental strength."

Leave your comment
HOT AUTO TRADE BOT SOFTWARE adver right
APPROVED BROKERS
net_home_top HOT AUTO TRADE BOT SOFTWARE
27-02-2024 10:07:27 (UTC+7)

EUR/USD

1.0850

+0.0003 (+0.03%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (7)

EUR/USD

1.0850

+0.0003 (+0.03%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (7)

GBP/USD

1.2678

-0.0004 (-0.03%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (3)

Sell (3)

USD/JPY

150.49

-0.20 (-0.13%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (9)

AUD/USD

0.6529

-0.0011 (-0.17%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (6)

Sell (2)

USD/CAD

1.3512

+0.0004 (+0.03%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (4)

Sell (2)

EUR/JPY

163.29

-0.24 (-0.15%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

EUR/CHF

0.9550

0.0000 (0.00%)

Summary

Neutral

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (6)

Sell (1)

Gold Futures

2,042.25

+3.35 (+0.16%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (5)

Silver Futures

22.755

+0.020 (+0.09%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (2)

Sell (7)

Copper Futures

3.8422

+0.0057 (+0.15%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (3)

Sell (1)

Crude Oil WTI Futures

77.53

-0.05 (-0.06%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (8)

Brent Oil Futures

81.61

-0.06 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Natural Gas Futures

1.736

-0.021 (-1.20%)

Summary

Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (0)

US Coffee C Futures

180.10

-0.20 (-0.11%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

Euro Stoxx 50

4,864.15

-8.42 (-0.17%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (7)

Sell (1)

S&P 500

5,069.53

-19.27 (-0.38%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

DAX

17,423.23

+3.90 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

FTSE 100

7,684.30

-21.98 (-0.29%)

Summary

Neutral

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (3)

Sell (2)

Hang Seng

16,498.50

-136.24 (-0.82%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,029.05

+12.36 (+0.61%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (9)

IBEX 35

10,138.40

+7.80 (+0.08%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

BASF SE NA O.N.

46.330

-0.270 (-0.58%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (0)

Bayer AG NA

28.59

-0.23 (-0.80%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (1)

Allianz SE VNA O.N.

245.65

-0.85 (-0.34%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (1)

Adidas AG

188.20

-0.58 (-0.31%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (3)

Deutsche Lufthansa AG

7.237

-0.144 (-1.95%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (0)

Siemens AG Class N

174.90

-0.40 (-0.23%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (8)

Sell (1)

Deutsche Bank AG

12.302

-0.088 (-0.71%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

    EUR/USD 1.0850 ↑ Sell  
    GBP/USD 1.2678 Neutral  
    USD/JPY 150.49 ↑ Sell  
    AUD/USD 0.6529 ↑ Buy  
    USD/CAD 1.3512 Buy  
    EUR/JPY 163.29 ↑ Sell  
    EUR/CHF 0.9550 Neutral  
    Gold 2,042.25 Sell  
    Silver 22.755 ↑ Sell  
    Copper 3.8422 Buy  
    Crude Oil WTI 77.53 ↑ Sell  
    Brent Oil 81.61 ↑ Sell  
    Natural Gas 1.736 Sell  
    US Coffee C 180.10 ↑ Buy  
    Euro Stoxx 50 4,864.15 Neutral  
    S&P 500 5,069.53 ↑ Sell  
    DAX 17,423.23 ↑ Sell  
    FTSE 100 7,684.30 Neutral  
    Hang Seng 16,498.50 ↑ Buy  
    Small Cap 2000 2,029.05 ↑ Sell  
    IBEX 35 10,138.40 Sell  
    BASF 46.330 ↑ Buy  
    Bayer 28.59 ↑ Buy  
    Allianz 245.65 Neutral  
    Adidas 188.20 Neutral  
    Lufthansa 7.237 ↑ Buy  
    Siemens AG 174.90 ↑ Buy  
    Deutsche Bank AG 12.302 ↑ Buy  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank7,750/ 7,900
(30/ 30) # 1,819
SJC HCM7,750/ 7,950
(70/ 50) # 1,869
SJC Hanoi7,750/ 7,952
(70/ 50) # 1,871
SJC Danang7,750/ 7,952
(70/ 50) # 1,871
SJC Nhatrang7,750/ 7,952
(70/ 50) # 1,871
SJC Cantho7,750/ 7,952
(70/ 50) # 1,871
Cập nhật 27-02-2024 10:07:29
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$2,032.95 -1.34 -0.07%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩm Vùng 1 Vùng 2
RON 95-V24.10024.580
RON 95-III23.59024.060
E5 RON 92-II22.47022.910
DO 0.05S20.91021.320
DO 0,001S-V21.90022.330
Dầu hỏa 2-K20.92021.330
ↂ Giá dầu thô thế giới
WTI $77.30 -0.16 -0.00%
Brent $81.54 -0.17 -0.00%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.460,0024.830,00
EUR26.071,0227.501,80
GBP30.477,0831.774,02
JPY158,92168,20
KRW16,0119,40
Cập nhật lúc 10:02:27 27/02/2024
Xem bảng tỷ giá hối đoái
adver main right