JPMorgan Chase & Co., Citigroup Inc., Morgan Stanley, Goldman Sachs Group Inc. and Bank of America Merrill Lynch are among the banks
Speaking of Goldman Sachs, the company is "assembling a suite of banking products" that would appeal to the middle class in an attempt to "power growth," The Wall Street Journal reports. Sources said the company's new initiatives include checkout-counter loans, wealth management, household-budgeting tools and car loans, among others.
WSFS Financial Corp. agreed to pay $12.0 million to settle a lawsuit filed by Universitas Education relating to Christiana Bank & Trust Co., a bank it acquired in 2010. Universitas Education is seeking more than $54.0 million in damages after it allegedly suffered losses from misappropriation of funds from certain life insurance benefits where Christiana Bank served as its insurance trustee.
Bank of Nova Scotia will no longer sell its metals trading unit, ScotiaMocatta, Reuters reports. Investment Banking Head Dieter Jentsch said there will be a strategic review of the unit, which will exit some markets and will simplify its product offering.
National Bank of Canada will release its 2018 fiscal first-quarter earnings results today.
Mortgage broker
And payments solutions provider
In other parts of the world
Asia Pacific: China unveils bond issue rules; India tells banks to fix operational gaps
Europe: Deutsche Bank settles LIBOR case; Sberbank, Erste post YOY rise in FY'17 profits
Middle East & Africa: Mizrahi Tefahot to pay more dividends; FirstRand names new CEO
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng was down 1.36% to 30,844.72 and the Nikkei 225 fell 1.44% to 22,068.24.
In Europe as of midday, the FTSE 100 dropped 0.26% to 7,263.25, and the Euronext 100 slid 0.46% to 1,027.36.
On the macro front
The Chicago PMI report, Pending Home Sales Index and the EIA Petroleum Status Report are due out today.
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