The earnings
BofA's net income applicable to common shareholders climbed to $5.12 billion from year-ago quarter's $4.45 billion. It recorded a provision for credit losses of $834 million and net charge-offs of $900 million in the third quarter.
First Horizon posted a 6.5% year-over-year rise in third-quarter results, while PNC recorded a 14.1% year-over-year rise in third-quarter profit. In addition, PNC reported a provision for credit losses of $130.0 million, which included $10 million related to Hurricanes Harvey and Irma.
In government and regulatory
Among possible candidates to head the Federal Reserve when Janet Yellen's term expires in February 2018, Fed board Gov. Jerome Powell is U.S. Treasury Secretary Steven Mnuchin's bet, sources told Politico. Meanwhile, Stanford University economist John Taylor was interviewed for a possible nomination to be the next Fed chair, a White House official told The Wall Street Journal.
In banking
Upon conclusion of Brexit negotiations, JPMorgan Chase & Co. will move 60 jobs to Paris, a source told the Financial Times.
In Texas, First Financial Bankshares Inc. is buying Commercial Bancshares Inc. in a stock deal valued at approximately $59.4 million.
Data solutions providers
The SEC is seeking to revoke the registration of United Mortgage Trust's securities, claiming that the investment company
Nasdaq Inc.'s Nasdaq CXC Ltd. and Ensoleillement Inc. have applied with the Ontario Securities Commission to operate as exchanges
And in fintech
In other parts of the world
Asia Pacific: US urges World Bank to inspect China lending; 3 Iranian banks eye India branches
Europe: HSBC gets new CEO; 3 global banks settle LIBOR case; ASR issues CoCos
Middle East & Africa: World Bank cuts SSA growth outlook; Bank Muscat's 9-month profit drops 4.9%
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng increased 0.06% to 28,476.43, and the Nikkei 225 increased 0.96% to 21,155.18.
In Europe, around midday, the FTSE 100 was down 0.29% to 7,543.45, while the Euronext 100 was up 0.17% to 1,049.39.
On the macro front
The consumer price index, the retail sales report, the business inventories report, the consumer sentiment report, the Treasury budget and the Baker-Hughes Rig Count report are due out today.
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