February 20, 2024
Gloomy banking season

CNBC Daily Open has prepared an extended report on banking activities


Four major Wall Street banks reported earnings.
— JPMorgan Chase started the season with lower fourth-quarter profits due to a $2.9 billion fee paid last year.
— Citigroup reported a quarterly loss of $1.8 billion and announced a 10% workforce reduction.
— Bank of America’s net profit in the fourth quarter fell by more than 50% compared to last year, while Wells Fargo reported higher quarterly revenues but warned of lower interest income this year.

The Labor Department’s producer price index fell by 0.1% in December, contrary to the 0.1% increase economists expected.

Goldman Sachs stated that there were no significant changes in the European utilities sector over the last three years, but a potential shift could occur.

The report also includes information on the elections in Taiwan, manufacturers in the USA, and inflation risks. The information in the report will be useful for investors worldwide.