* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, July 4, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Neil Young Plays Rare Full-Band ‘Ambulance Blues’ With The Chrome Hearts – Yahoo

    Neil Young Stuns Fans with Rare Full-Band Performance of ‘Ambulance Blues’ Alongside The Chrome Hearts

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    Nantucket Dance Festival opens July 8 – The Inquirer and Mirror

    Nantucket Dance Festival Launches with Thrilling Performances Beginning July 8

    A Secret Society, Ritualistic Killings, and a Century-Old Curse Netflix and YRF Entertainment’s ‘Mandala Murders’ Premieres July 25 – About Netflix

    A Secret Society, Ritualistic Killings, and a Century-Old Curse: Dive into the Chilling World of ‘Mandala Murders’ Premiering July 25

    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    LG Innotek CEO Moon Hyuksoo: “Our Next-gen Substrate Technology Will Change the Industry Paradigm” – TechPowerUp

    LG Innotek CEO Moon Hyuksoo: “Our Next-Gen Substrate Technology Will Revolutionize the Industry” Revolutionizing the Future: LG Innotek’s CEO Unveils Game-Changing Next-Gen Substrate Technology

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Owls inspire new revolutionary noise reduction technology – KTEN

    Owls inspire new revolutionary noise reduction technology – KTEN

    New center coming to Mizzou will focus on energy research and technology – Columbia Missourian

    Mizzou Launches Innovative New Center Dedicated to Energy Research and Technology

    Mirrors in space and underwater curtains: can technology buy us enough time to save the Arctic ice caps? – The Guardian

    Can Technology Like Space Mirrors and Underwater Curtains Buy Us Time to Save the Arctic Ice Caps?

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Neil Young Plays Rare Full-Band ‘Ambulance Blues’ With The Chrome Hearts – Yahoo

    Neil Young Stuns Fans with Rare Full-Band Performance of ‘Ambulance Blues’ Alongside The Chrome Hearts

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    Nantucket Dance Festival opens July 8 – The Inquirer and Mirror

    Nantucket Dance Festival Launches with Thrilling Performances Beginning July 8

    A Secret Society, Ritualistic Killings, and a Century-Old Curse Netflix and YRF Entertainment’s ‘Mandala Murders’ Premieres July 25 – About Netflix

    A Secret Society, Ritualistic Killings, and a Century-Old Curse: Dive into the Chilling World of ‘Mandala Murders’ Premiering July 25

    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    LG Innotek CEO Moon Hyuksoo: “Our Next-gen Substrate Technology Will Change the Industry Paradigm” – TechPowerUp

    LG Innotek CEO Moon Hyuksoo: “Our Next-Gen Substrate Technology Will Revolutionize the Industry” Revolutionizing the Future: LG Innotek’s CEO Unveils Game-Changing Next-Gen Substrate Technology

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Owls inspire new revolutionary noise reduction technology – KTEN

    Owls inspire new revolutionary noise reduction technology – KTEN

    New center coming to Mizzou will focus on energy research and technology – Columbia Missourian

    Mizzou Launches Innovative New Center Dedicated to Energy Research and Technology

    Mirrors in space and underwater curtains: can technology buy us enough time to save the Arctic ice caps? – The Guardian

    Can Technology Like Space Mirrors and Underwater Curtains Buy Us Time to Save the Arctic Ice Caps?

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

US banks’ profit picture less clear with cloudy rates trajectory

April 14, 2024
in Business
US banks’ profit picture less clear with cloudy rates trajectory
Share on FacebookShare on Twitter

NEW YORK (Reuters) – The uncertain trajectory of interest rates is making it hard for U.S. banks to forecast profits and leading some to adopt a cautious stance for the remainder of the year.

Banks have reaped high profits in recent quarters as the Federal Reserve started raising interest rates in March 2022 to tame inflation, which boosted net interest income (NII), or the difference between what lenders earn on loans and pay out for deposits.

But that positive effect has been waning, and the outlook for rates is now uncertain, particularly after March inflation data came in higher-than-expected, pushing out Wall Street’s forecasts for when the Fed starts rate cuts.

“It’s certainly challenging these days to forecast NII, given all of the volatility that we’ve seen across a lot of the different data points, as well as some of the uncertainty that’s out there relative to how our clients are going to behave,” Wells Fargo’s finance chief Michael Santomassimo said.

Wells Fargo’s NII fell 8% in the first quarter, hurt by higher interest rates on funding costs, including the impact of customers moving to higher yielding deposit products, as well as lower loan balances. The bank reiterated on Friday that its NII could fall 7% to 9% this year.

“People know interest rates are uncertain but rate changes have a faster effect on banks than other sectors,” said JJ Kinahan, CEO of brokerage IG North America.

JPMorgan Chase (NYSE:) pointed to similar challenges in navigating the changing rates environment. Chief Financial Officer Jeremy Barnum said on an analyst call following earnings that while its current guidance was not meaningfully different from what it was in the fourth quarter, it was based on the “current yield curve, which is a little bit stale now.”

JPM reported that NII rose 11% but it forecast that full-year income from interest payments would be below analysts’ expectations. JPM’s executives have warned for months that its surging NII was not sustainable.

“You’ve got to be prepared for a range of outcomes, which we are,” said Jamie Dimon on the analyst call. “All of these questions about interest rates and yield curves… We don’t want to guess the outcome. I’ve never seen anyone actually positively predict a big inflection point in the economy literally in my life or in history.”

Teddy Oakes, investment analyst at T. Rowe Price said there was little benefit to banks of “sticking your neck out early in the year” and being too optimistic on NII, as higher expectations had already been priced in.

At Citigroup, net interest income increased 1% year-on-year. The bank forecast that NII excluding markets would be down modestly, as growth would be from noninterest-bearing revenue. Citi CFO Mark Mason said on a conference call that the fewer rate cuts expected this year don’t “have a material impact” on the bank’s guidance.

“Notwithstanding a supportive higher-for-longer rate environment, early indications are that banks will mostly maintain their relatively downbeat 2024 net interest income guidance,” said Mark Narron, senior director at Fitch Ratings.

© Reuters. FILE PHOTO: A customer walks out of a branch of the JPMorgan Chase & Co bank in New York, March 15, 2013. REUTERS/Lucas Jackson/File Photo

Banks were generally positive on the economy, with Dimon saying the economy remained strong with people having excess money to spend.

“There’s no doubt the Fed’s policy of very high short term rates impacts banks,” said Rick Meckler, partner, Cherry Lane Investments. “The surprise has always been that the economy hasn’t slowed, and so much of bank earnings are tied to economic conditions.”

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Investing.com – https://www.investing.com/news/economy/us-banks-profit-picture-less-clear-with-cloudy-rates-trajectory-3376945

Tags: banksbusinessProfit
Previous Post

Court orders to freeze the bank account of ‘Manjummel Boys’ producers in a fraud case

Next Post

Philippine deals with US, Japan will not affect China’s investments, Marcos says

LG Innotek CEO Moon Hyuksoo: “Our Next-gen Substrate Technology Will Change the Industry Paradigm” – TechPowerUp

LG Innotek CEO Moon Hyuksoo: “Our Next-Gen Substrate Technology Will Revolutionize the Industry” Revolutionizing the Future: LG Innotek’s CEO Unveils Game-Changing Next-Gen Substrate Technology

July 3, 2025
Diego Luna strikes shaky USMNT to win over Guatemala, and into Gold Cup final – Yahoo Sports

Diego Luna Propels USMNT to Thrilling Win Over Guatemala, Punching Ticket to Gold Cup Final

July 3, 2025
Multiple hunting displays in wild broadclub cuttlefish – How – 2025 – Ecology – ESA Journals

Mind-Blowing Hunting Tactics Uncovered in Wild Broadclub Cuttlefish

July 3, 2025
The Catholic Church believes in science. That good Christians must be anti-science is a myth. – National Catholic Reporter

How the Catholic Church Embraces Science: Debunking the Myth That Faith and Facts Clash

July 3, 2025
Making Europe a global leader in life sciences – European Commission

Unlocking Europe’s Potential: How to Become a Global Leader in Life Sciences

July 3, 2025
Solenn Heussaff is the cover star of a local lifestyle magazine – GMA Network

Solenn Heussaff is the cover star of a local lifestyle magazine – GMA Network

July 3, 2025
NWSL to take June break for ’26 men’s World Cup – ESPN

NWSL to Pause Season in June Ahead of 2026 Men’s World Cup Excitement

July 3, 2025
Russia’s economy just flashed warning signs about manufacturing and employment – Business Insider

Russia’s Economy Sends Alarming Signals in Manufacturing and Employment

July 3, 2025
Neil Young Plays Rare Full-Band ‘Ambulance Blues’ With The Chrome Hearts – Yahoo

Neil Young Stuns Fans with Rare Full-Band Performance of ‘Ambulance Blues’ Alongside The Chrome Hearts

July 3, 2025
Registered nurse explains reasoning for health care workers strike against WellSpan Health – WGAL

Registered nurse explains reasoning for health care workers strike against WellSpan Health – WGAL

July 3, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (703)
  • Economy (729)
  • Entertainment (21,617)
  • General (15,692)
  • Health (9,768)
  • Lifestyle (733)
  • News (22,149)
  • People (729)
  • Politics (736)
  • Science (15,947)
  • Sports (21,227)
  • Technology (15,713)
  • World (709)

Recent News

LG Innotek CEO Moon Hyuksoo: “Our Next-gen Substrate Technology Will Change the Industry Paradigm” – TechPowerUp

LG Innotek CEO Moon Hyuksoo: “Our Next-Gen Substrate Technology Will Revolutionize the Industry” Revolutionizing the Future: LG Innotek’s CEO Unveils Game-Changing Next-Gen Substrate Technology

July 3, 2025
Diego Luna strikes shaky USMNT to win over Guatemala, and into Gold Cup final – Yahoo Sports

Diego Luna Propels USMNT to Thrilling Win Over Guatemala, Punching Ticket to Gold Cup Final

July 3, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version