WFC Jan 2025 20.000 put
| Previous Close | 0.0200 |
| Open | 0.0200 |
| Bid | 0.0100 |
| Ask | 0.0200 |
| Strike | 20.00 |
| Expire Date | 2025-01-17 |
| Day's Range | 0.0200 - 0.0200 |
| Contract Range | N/A |
| Volume | |
| Open Interest | 5.86k |
- Yahoo Finance Video
How the Fed is creating value for the Big Banks: Portfolio mgr.
Major financial institutions — including JPMorgan (JPM) and Wells Fargo (WFC) — kicked off the third quarter earnings season this morning. While these banks outperformed expectations, the potential impact of future Federal Reserve rate cuts on these financial giants remains a key concern. Hennessy Funds portfolio manager David Ellison, joins Market Domination to share his outlook on the situation. Ellison notes that, fundamentally, bank earnings aligned with investor expectations. However, he emphasizes a significant shift: "The mathematics of the business is working in their favor for the first time in a while," as banks grow equity, buy back stocks, and see tangible book values increase. Furthermore, he points out that as banks like JPMorgan see their balance sheets expand, "the banks are becoming a much bigger part of how the Fed is going to fund the government," which creates additional value for these major financial institutions. "Those are the things that I see: the Fed is shrinking, the banks are getting bigger, and because of that, they're becoming more important and more profitable," Ellison tells Yahoo Finance. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Angel Smith
- Yahoo Finance Video
September PPI, Big Bank earnings, Tesla Cybercab: 3 Things
The Producer Price Index (PPI) cooled month-over-month in September, holding steady while economists expected a 0.1% increase in prices. The inflation indicator did see gains of 1.8% year-over-year, above estimates for 1.6%. This all comes as the Federal Reserve considers whether to push through additional interest rate cuts at its November meeting or hold rates where they are. Major banks JPMorgan Chase & Co. (JPM) and Wells Fargo (WFC) reported their third quarter earnings results, the former of which topped estimates while seeing profits fall by 2% year-over-year.\ Tesla (TSLA) CEO Elon Musk unveiled the EV maker's Cybercab at the company's Robotaxi Day last night, currently being priced at $30,000. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Luke Carberry Mogan.
Yahoo FinanceJPMorgan touts 'soft landing' possibility after better-than-feared earnings
Profits at JPMorgan and Wells Fargo both fell from the year-ago period, but those declines were less than what analysts expected.
