County Wells Financial News

By Nupur Anand, Niket Nishant and Saeed Azhar

Investing.com — U.S. stock futures were trading in a tight range during Monday's evening deals, after major benchmark averages snapped 3 sessions of consecutive declines ahead of key inflation data and earnings results slated for release later in the week.

By Gertrude Chavez-Dreyfuss

Major banks are facing one of the biggest regulatory overhauls since the financial crisis, setting up a clash over the amount of capital that they have to set aside to weather tumult.

Investing.com — U.S. stocks were mixed on Monday ahead of inflation data for June.

Investing.com — U.S. futures traded largely flat Monday, at the start of a week that includes the release of key inflation data. which could guide the Federal Reserve with its monetary policy, as well as the start of the new quarterly earnings season.

Bond markets were still shaky after a recent vicious sell-off drove yields to multi-year highs across the developed world, making equities less attractive in comparison. The surge in yields put pressure on popular carry trades in the currency market which saw the Japanese yen rally sharply late last week, largely at the expense of the U.S. dollar.

inflation data this week, including the US consumer price index, and the start of another corporate earnings season. Bond markets were volatile after a recent sell-off drove yields to multi-year highs in the US, making equities less attractive in comparison. In the US, the June CPI report is scheduled to be released on Wednesday, which is forecast to show headline inflation slowed to its lowest level since early 2021 at 3.1%, with the core easing to 5.0%, Reuters reported.

Investing.com — Stock futures were trading mixed on Sunday evening, with market participants looking ahead to key inflation data on Wednesday and Thursday as well as second-quarter earnings.

When John Langley called time on his banking career after 27 years, he decided to go back to his roots.

Wall Street's main indices ended lower on Friday, capping off a losing week as investors digested a U.S.jobs report that failed to shake off fears that the Federal Reserve may start hiking interest rates again later this month.

Investing.com — U.S. inflation data for June will be in focus with the Federal Reserve all but certain to hike rates again later this month. Earnings season kicks off with results from big banks, while data out of China is expected to point to ongoing economic weakness. The Bank of Canada is expected to hike rates again and oil prices could be poised to break out to the upside.

India's Rohan Bopanna and his men's doubles partner Matthew Ebden from Australia survived a scare before prevailing over Argentine duo of Guillermo Duran and Tomas Etcheverry to advance to the second round of the Wimbledon. The sixth-seeded Indo-Australian duo outwitted the spirited Argentine pair 6-2 6-7 (5-7) 7-6 (10-8) in their opening match that lasted two hours and 12 minutes.

While the benchmark S&P 500 has gained nearly 15% year-to-date driven by a handful of megacap growth and technology names, some sectors have lagged, including the S&P 500 healthcare, which is down 4.7%. The financials sector is down 2%, while energy is nearly 9% lower. These unloved sectors are growing attractive to investors increasingly torn over whether a long-feared U.S.

Get ready for more volatility, folks, the next major test for the stock market rally is upon us.

A group of banks led by JPMorgan Chase & Co. and Goldman Sachs Group Inc. are lining up around $9.4 billion of debt to back GTCR’s purchase of a majority stake in Worldpay Inc., in what would be the largest buyout financing in over a year.

The NY Fed's New York Innovation Center worked with banks - including Citi, HSBC and Wells Fargo - as well as Swift and SETL on the PoC exploring a Regulated Liability Network (RLN), which is envisioned as an interoperable network for wholesale payments operating on a shared multi-entity distributed ledger.The experiment was designed to see whether shared ledger technology could tackle some of the frictions - such as speed, cost, off-hours availability, and the settlement process - that traditional payment systems suffer from.A working group split into three stream looking at the business applicability, technical feasibility, and legal viability of using shared ledger technology to settle the liabilities of regulated financial institutions through the transfer of central bank money. The business workstream concluded that a global, near real-time, 24/7, dollar payment system could be delivered through the RLN concept, enhancing the processing of cross-border payments denominated in USD.

With the changing demographics in the United States, the financial advice industry may finally be reaching the realization it needs to hire more African American financial advisors, a severely underrepresented group in mainstream wealth management.

A wealth management team has left Wells Fargo Advisors to go independent.

Despite a decade of firms investing in technology to automate back-office busy work, many financial advisors feel as if they still don’t have enough time to spend with clients.

Wells Fargo's top banker in London is set to relocate to New York to become chief operating officer of its corporate and investment bank after a senior shake-up.