JPMorgan Chase & Co posted a 67 percent increase in first-quarter earnings, topping Wall Street expectations, as it set aside less money to cover bad loans.
Stock index futures rose on Wednesday, rebounding from the previous day's decline, after results from JPMorgan Chase beat expectations and spurred bets that other bank earnings will be strong.
U.S. stocks ended lower on Tuesday as Alcoa sales missed estimates and energy stocks declined as oil prices plunged more than 3 percent. Futures on major U.S. stock indices point to higher opening on Wednesday ahead of economic data including retail sales.
Deutsche Bank will change the legal status of its main U.S. subsidiary to avoid having to endow it with up to $20 billion in fresh capital, the Wall Street Journal reported on Wednesday.
Investors retreated from stocks, oil and other risky assets as a worsening nuclear situation in Japan and a lackluster start to the U.S.'s corporate earnings season cast doubt over the global economic recovery. The Dow Jones Industrial Average dropped 117.53 points, or 0.95%, to 12263.58, while the Standard & Poor's 500-stock index lost 10.30 points, or 0.78%, at 1314.16, and the Nasdaq Composite fell 26.72 points, or 0.96%, to 2744.79.
Oil crept back above $121 on Wednesday, partly reversing a deep sell-off as foreign ministers met for talks on Libya's future and the market awaited U.S. inventory data for possible signs of demand attrition.
The recent discovery of mass corpses will add only to the drug war woes surrounding the Mexican holiday industry.
Foxconn Technology Group, maker of Apple Inc's iPhone and iPad, said it is looking at investment opportunities in Brazil in line with its strategy of being where the market is, a plan that would boost its presence in a fast-growing market for electronic devices.
World stocks put in modest gains on Wednesday after recent declines, while oil prices also rebounded as investors sought fresh opportunities to bet on risky assets.
U.S. stocks ended lower on Tuesday as Alcoa sales missed estimates and energy stocks declined as oil prices plunged more than 2 percent.
Natural gas extracted from shale formations has a greater greenhouse gas footprint - in the form of methane emissions - than conventional gas, oil and coal over a 20 year period. This calls into question the logic of its use as a climate-friendly alternative to fossil fuels, says a new study.
SINGAPORE The yen weakened and Asian stocks headed higher on Wednesday, with investors looking for fresh opportunities to bet on risky assets after a sharp drop in oil the previous day caused an unwinding of positions.
JPMorgan Chase & Co is expected to post an increase in first-quarter profit of more than 50 percent on Wednesday, as the bank weathers a slowdown in trading and fewer borrowers default on credit card loans.
German luxury automaker Daimler AG and auto part manufacturer Robert Bosch GmbH plan to establish a 50:50 joint venture in the development and production of electric motors for all-electric vehicles in Europe.
French engineering giant Schneider Electric has held early talks with Tyco International Ltd about buying the U.S. industrial conglomerate, a person with knowledge of the matter said on Tuesday.
U.S. companies would be largely spared from increases in the costs of using derivatives when they hedge against price fluctuations, under U.S. regulatory proposals issued on Tuesday.
Asian shares fell Tuesday on selling prompted by Japan declaring its nuclear crisis a match for the Chernobyl disaster in severity and after the International Monetary Fund said global economic growth should slow this year as new risks emerge.
A senior U.S. Treasury Department official said on Tuesday the G20 expects to make progress on guidelines for identifying economic imbalances this week and soon will be able to list countries with problems.
The world's biggest economies hope to make progress this week on a plan to identify countries that put the global economy at risk, while China warned against any moves that would curb its red-hot growth.
The G20 hopes to make progress on developing guidelines to identify economic imbalances this week and will soon be able to list countries with the biggest problems, a senior U.S. Treasury official on Tuesday.
Tenet Healthcare Corp shares retained a takeover premium on Tuesday, a day after it lobbed a legal grenade at unwanted suitor Community Health Systems , suggesting that investors still believe a deal between the two rivals could happen.
The world's biggest economies will struggle this week to make headway on a plan to identify countries that put the global economy at risk with China opposed to any attempt to curb its growth.
