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Goldman Sachs shares jump as earnings blow past the Street on the best trading results in years

Goldman Sachs (GS) earnings Q2 2020 blow past StreetSEARCH QUOTES x+1'); } catch (e) { return false; } return true; } function addScript(src) { var s = document.createElement('script'); s.setAttribute('src', src); document.head.appendChild(s); } if (!isES6Supported()) { addScript('https://static-redesign.cnbcfm.com/dist/polyfill-8d6b7d0e3d0bf79db911.js'); } ]]> Source link ...

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Dow futures jump 250 points after Moderna says its vaccine produces antibodies to coronavirus

Stock futures climbed higher in overnight trading on Tuesday after Moderna said its coronavirus vaccine produced antibodies in all patients in an early trial, raising hope for a faster economic recovery. Futures on the Dow Jones Industrial Average jumped 250 points, pointing to a 220-point gain at Wednesday's open. The S&P 500 futures and the Nasdaq 100 futures rose 0.5% and 0.3%, respectively. Biotech Moderna's potential vaccine to prevent Covid-19 produced a "robust" immune response, or neutralizing antibodies, in all 45 patients in its early stage human trial, according to newly released data published Tuesday evening in the peer-reviewed New England Journal of Medicine. Shares of Moderna surged more than 16% in after-hours trading on Tuesday. Stocks directly tied to an econom...

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Wells Fargo reports $2.4 billion loss for the quarter, slashes dividend to 10 cents

Charles Scharf Michael Nagle | Bloomberg | Getty ImagesWells Fargo on Tuesday posted its first quarterly loss since the financial crisis as the bank set aside $8.4 billion in loan loss reserves tied to the coronavirus pandemic. The bank had a net loss of $2.4 billion in the second quarter, or a loss of 66 cents a share, worse than the 20 cents a share loss expected by analysts surveyed by Refinitiv. Revenue of $17.8 billion was also weaker than analysts' $18.4 billion estimate.  Shares of the San Francisco-based bank fell 4.1% in premarket trading.  "We are extremely disappointed in both our second quarter results and our intent to reduce our dividend," CEO Charlie Scharf said in the release. "Our view of the length and severity of the economic downturn has deteriorated considerably...

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JPMorgan Chase earnings are out – here are the numbers

Jamie Dimon, chief executive officer of JPMorgan Chase & Co. Giulia Marchi | Bloomberg | Getty ImagesJPMorgan Chase reported second quarter earnings.  Here's how JPMorgan did: Earnings: $1.38 a share, compared with the $1.04 per share estimate of analysts surveyed by Refinitiv. Revenue: $33 billion, compared with the $30.3 billion estimate. JPMorgan, the biggest U.S. bank by assets, is also the first major lender to report earnings. The company will be closely watched for clues on how the coronavirus pandemic is impacting banks' retail and institutional businesses. The key question investors have is whether the second quarter will represent the nadir for bank profits this year: Big banks are expected to show the largest loan loss provision for any quarter since the financial ...

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Stock futures rise ahead of bank earnings

U.S. stock futures moved higher in early trading and pointed to gains at the open on Tuesday, as investors eye earnings reports from some of the nation's largest banks.  Dow futures rose 90 points. The S&P 500 and Nasdaq 100 futures rose 0.3% and 0.4%, respectively. On Monday, the Dow Jones Industrial Average gave up a 500-point gain to end the day up 10 points. The S&P 500 ended the day down 0.95%, having earlier rallied 1% to briefly trade positive for the year. Monday marked the first time since early June that the S&P 500 traded positive year to date. The Nasdaq Composite dipped 2.1%, pushed lower by losses in Netflix, Microsoft, Amazon and Facebook. The technology heavy index rose nearly 2% at its session high on Monday. The Nasdaq-100, which is made up of the 100-l...

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Dow futures rise 100 points as investors shake off a continued spike in coronavirus cases

A pedestrian passes in front of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, June 3, 2020. Michael Nagle | Bloomberg | Getty ImagesStock futures rose in overnight trading on Sunday as investors looked past a record spike in coronavirus cases in Florida. Futures on the Dow Jones Industrial Average gained about 130 points, pointing to a 160-point gain at Monday's open. The S&P 500 futures and the Nasdaq 100 futures rose 0.5% and 0.4%, respectively. Florida reported 15,299 new coronavirus cases on Sunday, the highest single day total for any U.S. state since the pandemic began. Meanwhile, the U.S. has reported more than 60,000 new cases daily for three days in a row now, bringing the national total to more than 3 million cases, according to data from Johns Hop...

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Keep buying hot stocks like Slack and Costco, Wall Street’s best-performing analysts say

Costco store in Teterboro, New Jersey. SOPA Images | LightRocket | Getty ImagesHow to pinpoint top stocks primed to outperform during this uncertain time? Here are a few of the names the best-performing Wall Street analysts are betting on right now. As we move into the second half of the year, it could make sense to follow the stock picks of analysts with a proven track record of success. Global markets may be moving higher in a tech-powered rally, but prolonged gains are still far from guaranteed. Coronavirus cases continue to surge to record levels, jobless claims are still high, and tensions with China remain elevated. We used TipRanks analyst forecasting service to pinpoint Wall Street's best-performing analysts. These are the analysts with the highest success rate and average re...

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