JPMorgan Financial News

By Rodrigo Campos and Mayela Armas

The largest American banks have been quietly laying off workers all year — and some of the deepest cuts are yet to come.

The popular 60/40 portfolio isn’t dead, and in fact is a significantly more compelling investment than cash over the coming decade, according to JPMorgan Asset Management.

New York | Morgan Stanley shares plunged after third-quarter earnings slid amid sluggish results from the firm’s investment bank and a miss in wealth management.

By Matt Tracy

Any potential equity market rally is at risk if geopolitical uncertainty escalates further, according to Goldman Sachs Group Inc.

Morgan Stanley’s third-quarter earnings slid amid sluggish results from the firm’s investment bank and a miss in wealth management.

By Saeed Azhar and Niket Nishant

By Saeed Azhar and Nupur Anand

JPMorgan raised CyberArk Software (NASDAQ:CYBR) to Overweight from Neutral, increasing the price target to $200 from $182 in a note Tuesday. The firm also opened a Positive Catalyst Watch on the stock.

Goldman Sachs reported lower profit for the third quarter, hurt by losses from selling off pieces of its consumer-lending business and a big drop in revenue in its asset and wealth-management division. The bank on Tuesday said quarterly profit was $2.1 billion, down 33% from a year ago. That amounted to $5.47 per share, which beat the $5.42 per share expected by analysts polled by FactSet.

The Middle East’s latest conflagration has got Wall Street’s forex researchers on the overdrive, forecasting possibilities for the euro to reach parity with the US dollar amid speculation the crisis will drive up Europe’s inflation with higher energy costs.

(Reuters) -Bank of New York Mellon Corp beat Wall Street estimates for third-quarter profit on Tuesday, as rate hikes by the U.S. Federal Reserve bolstered the lender's income from loans.

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JPMorgan Chase & Co. sold green bonds for the first time in over two years as global sales of the debt accelerate at a record pace. 

Investing.com --Goldman Sachs releases its latest quarterly results in difficult circumstances, while retail sales will provide clues of the health of the U.S. consumer. County Garden nears debt default, while oil markets look to Venezuela for potential supply. 

By Clare Jim

Investing.com — Here is your Pro Recap of the biggest analyst picks you may have missed today: several Buy initiations at Instacart, and upgrades at Pfizer , Wayfair, Nice, and Nucor.

bond sale, a document showed, the first high-profile debt issue from the region since last week's Israel-Hamas conflict unsettled regional markets. The Public Investment Fund (PIF) plans to issue a dollar-denominated Islamic bond, and mandated Citi, HSBC, JPMorgan and Standard Chartered Bank to arrange a series of investor calls starting on Monday. It will be the PIF's second international debt issue this year after it raised $5.5 billion from green bonds in February. The plans come as the troubles in Israel have triggered an increase in volatility in the Middle East and North Africa (MENA) region and seen major investment banks such as JPMorgan and Morgan Stanley downgrade their view on the broader region. A European-based investor said markets were closely watching how pricing and demand for the PIF Islamic bond would shape up in days to come, with the issue being seen as a weather vane for sentiment towards fixed income in the Gulf region more widely in the wake of the conflict. The PIF is the chosen vehicle of Saudi Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, to drive an economic agenda aimed at cutting reliance on oil. A dual tranche of 5- and 10-year tenor senior sukuk, or Islamic bonds, will follow the investor meetings, the document seen by Reuters showed.

Shares of Pfizer are falling before the opening bell as the company cut its full-year outlook, citing declining sales of its COVID-19-related products

Although price moves remain contained in the absence of a dramatic weekend escalation, world markets are still on edge as Middle East tension builds without obvious resolution.