JPMorgan Chase & Co Chief Executive Officer Jamie Dimon said on Monday that the bank had suspended repurchases of its stock, but is maintaining its dividend, while working down losing trades in credit derivatives.
During my many years of following American political thought, one overwhelming truth has emerged: There is nothing as powerful as an idea (be it intelligent or stupid) whose time has come.
This week's economic calendar is relatively light in the U.S. with the releases of existing home sales, durable goods orders, and the University of Michigan consumer confidence survey. Attention will likely focus on data out of Europe. Euro zone PMIs, Germany IFO survey, and first-quarter gross domestic product data for the U.K. will be released.
Asian markets fell this week as they succumbed to the pressures of the euro zone debt crisis and the economic data about the U.S. missing estimates. The Chinese Shanghai Index dropped 2.1 percent and the Japanese Nikkei fell 3.8 percent. Hong Kong's Hang Seng Index plunged 5.1 percent and India's BSE Sensex slumped 0.86 percent.
A day after the largest bank in Japan agreed to comply with a U.S. District Court order barring it from doing business with Iran, bankers and government officials in Tokyo are reportedly trying to find a way to circumvent the commercial embargo.
Asian stock markets slumped Friday as renewed concerns over euro zone crisis and lackluster economic data from US dented investor sentiment.
Asian stock markets tumbled on Friday, following an overnight slump on Wall Street as weaker-than-expected U.S. economic data and a deepening euro zone crisis dampened sentiment.
JPMorgan Chase & Co Chief Executive Jamie Dimon has agreed to testify before Congress over the bank's recent trading losses, which have ignited a political debate over whether large U.S. banks need to be reined in by regulators or new laws.
European stocks lost big Thursday as Greek banks were cut loose from European Central Bank support and Spain's borrowing costs kept skyrocketing. The head of the International Monetary Fund, Christine Lagarde, also warned today of the extremely expensive consequences of Greece leaving the currency bloc.
Spot gold rallied more than 2.6 percent on Thursday, its largest one-day gain since late January, as technical buy signals and new signs of a sluggish U.S. economy more than offset deepening despair over the euro zone.
Futures on major U.S. indices point to a flat opening on Thursday ahead of economic data including weekly jobless claims
Asian markets rose Thursday as the economic growth reported by Japan and possible additional monetary stimulus from Federal Reserve to spur growth of the US economy offset the increasing concern of Greece leaving the euro zone.
Federal Reserve policymakers seemed more likely Wednesday to recommend further monetary easing than just a month ago, as minutes of a Fed rate-setting panel detailed shaky faith in recent indicators of economic recovery.
U.S. Federal Reserve policymakers kept the door open to a fresh round of monetary stimulus, citing downside risks to a moderately expanding economy, according to minutes for the central bank's April meeting.
U.S. investors bought shares of industrials, airlines, gold mining companies and agricultural assets Wednesday as robust economic data offset fears stoked by the likelihood of Greece leaving the euro zone.
U.S. industrial production posted its fastest growth in over a year in April, boosted by surging output at utilities and a rebound in manufacturing, the Federal Reserve said on Wednesday.
The FBI has opened a probe into trading losses at JPMorgan Chase & Co, stepping up the pressure on the bank after the U.S. Securities and Exchange Commission and the Federal Reserve said they were also looking into the wrong-way bets that led to the losses.
Manufacturing activity in New York state improved moderately in May as shipments rose and employment levels and hours expanded, a report from the New York Federal Reserve Bank said Tuesday.
U.S. stock index futures pointed to a higher open on Wall Street on Tuesday, with the futures for the S&P 500 and the Dow Jones up 0.6 percent and Nasdaq 100 futures up 0.8 percent at 0733 GMT.
As the leader of JPMorgan Chase & Co's hedging unit quit after trading losses that could end up exceeding $3 billion, the board seemed to be rallying behind CEO Jamie Dimon before the huge bank's annual shareholder meeting Tuesday.
The Glass-Steagall Act of 1933 was a Depression-era law that separated investment and commercial banks. It was repealed in 1999 during the Clinton administration.
Republican presidential candidate Ron Paul will not campaign in states with upcoming primaries, the Paul campaign said Monday.
