Reportingearnings early today are , , , Pittsburgh-basedPNC Financial Services GroupInc. and First HorizonNational Corp. of Tennessee.

U.S.Bancorp reported second-quarter net income applicable to common shareholders of$1.44 billion, or 83cents per share, compared to $1.42 billion, or 80 cents per share, in theyear-ago period.

PNCreported net income attributable to diluted common shares of , or $1.82 pershare. The S&P Global consensus normalized EPS estimate for the recentquarter was $1.75.

Yesterday,the releases included JPMorganChase & Co.'s and BlackRockInc.'s. The Financial Times notesthe former's bottomline makes it "almost tolerable to be a bigdiversified U.S. bank," especially amid the dearth of funding orclients at other financial institutions. The bank's executives took anoticeably tone on Brexit, whileBlackRock's Larry Fink reiterated on CNBC that a recessionacross the pond is to be expected.

Inmore banking news:

Morethan half a year after EquityBancshares Inc.'s IPO, the Kansas-based bank has struck an estimated$68.8 million dealfor Community First Bancshares Inc.of Arkansas.

InMissouri, OakStarBank ($440million) and Bank ofUrbana ($180 million) are merging.

Cincinnati-basedFifth Third Bankreceived a "needs toimprove" Community Reinvestment Act rating — for the 2011-2013evaluation period and on account of "legacy issues" that said havealready been addressed. Evercore ISI's John Pancari commented it might put adamper on any M&A plans; Fifth Third has reiterated interest in anacquisition.

Fintech:

American Banker has a piece on 's work on FinancialIndustry Business Ontology — a standard that makes data held by different banksconsistent in format and therefore usable in blockchain.

Andan equity offering by Ingo MoneyInc., risk-management service provider, brought in $4million.

Asset managers:

TheMassachusetts Securities Division released guidance for investment advisers whouse robo-advisoryservices. Particularly under scrutiny will be disclosures and fees.

in October succeedsAnne Stausboll as CaliforniaPublic Employees' Retirement System CEO. 

Bank of Canada:

And The Wall Street Journal asked Gov.Stephen Poloz if he would use the term "bubble"to describe Toronto's and Vancouver's housing markets. Poloz replied: "Ican't put my finger on fundamentals that are going up at the rate that houseprices are going up. That doesn't mean there aren't some … The risks areclearly rising. I just don't know how big the risks are."

In other parts of the world

Asia-Pacific:

Europe:BoE signals August stimulus;Erste Group Q2 profit guidance; More UniCredit capital raising likely

Middle East& Africa: Downturn in African insurance; S&P grim on GCC

The day ahead

Earlymorning futures indicators pointed to a lower opening for the U.S. market.

In Asia, theHang Seng increased 0.46% to 21,659.25, and the Nikkei 225 was up 0.68% to16,497.85.

In Europe, aroundmidday, the FTSE 100 was down 0.37% to 6,629.85, and the Euronext 100 was down0.74% to 861.29. 

On the macro front

Theconsumer price index, the retail sales report, the Empire State manufacturingsurvey, the industrial production report, the business inventories report andthe consumer sentiment report are due out today. 

The Daily Dose is updated as of 7:30 a.m. ET. Some external linksmay require a subscription.