Wall Street futures dip
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U.S. stocks seesawed on Wednesday, with Wall Street's major indexes gaining back some ground after session lows as upbeat earnings reports eclipsed U.S.-China trade tension worries. The benchmark S&P 500 (SP500) was last +0.
Wall Street’s banner first half in trading was based on handling tariff-induced market chaos. The third quarter showed the biggest banks can also seize on the stock market’s steady march higher.
Tech stocks helped lead the way following an encouraging profit report from ASML, which is a major supplier to the semiconductor industry.
Follow all the latest U.S. market action for Wednesday here as stocks look to recover their poise after some trade-talk volatility and earnings season continues apace.
US stocks jumped Monday in a broad rebound, bouncing back from Friday's rout after President Trump played down the escalating US trade standoff with China and said it "will all be fine!" Stocks recouped some of Friday's hefty losses after Trump dialed back his Friday threat to impose an additional 100% tariff on Chinese goods from Nov.
ZIM Integrated may be undervalued despite high short interest and US-China trade tensions. Read here for an investment analysis of ZIM stock.
In the latest quarter, the largest U.S. banks led by JPMorgan Chase (JPM.N), Goldman Sachs (GS.N), and Bank of America (BAC.N) flagged big profits from the booming business of prime brokerage, which involves lending cash and securities to hedge funds to help execute large trades.
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Morgan Stanley profits soar past Wall Street’s forecasts — as stock trading trounces predictions
That beat $3.74 billion from Goldman Sachs, which has dominated equities trading in recent years. Ted Pick – Morgan Stanley’s notoriously foul-mouthed boss – has been eager to usurp the Wall Street rival. Profit at the bank jumped 45% from a year earlier to $4.61 billion, or $2.80 a share, above expectations of $2.10 a share.
The server maker, focused on new AI opportunities, forecast weaker-than-expected revenue growth for the coming year. It also boosted its dividend by10%.
Does Billionaire Ken Griffin Know Something Wall Street Doesn't? The Citadel Chief Sold 48% of His Stake in Palantir and Is Piling Into This Stock-Split Stock Instead. Chipotle's business has been sluggish for several quarters, but the market may be overly sour on the stock.