Economists may be on recession watch, but American Express CEO Stephen Squeri says he still isn't seeing spending trends that would suggest a downturn is in the cards.
Jamie Dimon is one of the most respected voices on Wall Street. In its earnings release, the bank said it was taking a provisional charge of $2.3 billion for credit losses, including a $1.4 billion build on reserves for future losses. CFO Jeremy Barnum elaborated that the bank's outlook included the unemployment rate peaking at 4.9%.
Digital payments firm Stripe has hired Wall Street banks Goldman Sachs and JP Morgan to explore a public listing, two sources familiar with the matter told Reuters. The company is also considering a private market raise to provide liquidity for employees, the sources said. The Wall Street Journal reported earlier in the day that Stripe had approached investors to raise atleast $2 billion at a valuation of $55 billion to $60 billion.