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JPMorgan to launch European ETFs; Blackrock's Q3 revenue up 14% YOY


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JPMorgan to launch European ETFs; Blackrock's Q3 revenue up 14% YOY

SEC Commissioner Michael Piwowar said cybersecurity concerns will not delay the rollout of the agency's trading database called consolidated audit trail, or CAT. The database has come under increased scrutiny from lawmakers and industry participants in light of several large-scale hacks, including that of the agency's corporate filing system. Piwowar, however, assured the SEC will not take any of that data "until [it is] confident and comfortable [it has] a robust cybersecurity [plan], a way to protect it."

In earnings today, Bank of the Ozarks reported third-quarter net income of $96.0 million, a 26.3% increase from the year-ago quarter's $76.0 million. EPS was 75 cents, a 13.6% increase from 66 cents in the 2016 third quarter.

And BlackRock Inc.'s third-quarter net income attributable to the company rose to $947 million from the year-ago quarter's $875 million. Revenue for the quarter totaled $3.23 billion, up 14% from $2.84 billion in the year-ago quarter.

In banking news, JPMorgan Chase & Co.'s asset management unit is launching its first two European-listed exchange traded funds, which according to the Financial Times "marks an important strategic shift for JPMorgan." The funds will be listed on the London Stock Exchange and then be made available across other European markets.

Speaking of JPMorgan, its CEO Jamie Dimon is among other high-profile names who will start contributing opinion pieces to the online opinion section that NBC News launched yesterday. Dimon's first piece on tax reforms will be published today, Reuters reports.

East Tawas, Mich.-based Huron Community Bank is acquiring about $10.9 million in deposits and $1.5 million in loans from a First Federal of Northern Michigan branch in Oscoda.

Asset managers Blackstone Group LP and Brookfield Asset Management Inc., as well as the Canada Pension Plan Investment Board, are in talks with India's Kotak Realty Fund to acquire assets from two real estate funds, sources for Livemint say.

Prime Capital Investment Advisors LLC, formerly known as Lawing Financial, is initiating a growth plan that would double the size of the newly rebranded company in the next three years, the Kansas City Business Journal reports. It plans to engage in M&A activity, recruit experienced financial advisers and invest in the latest technology, among other things.

More than 100 financial institutions have joined Ripple's enterprise blockchain network, RippleNet.

And former Guggenheim Securities employees Jay Jacquin, James Hadfield and Joseph Weissglass have launched a new investment bank and financial advisory firm, Configure Partners LLC, the Atlanta Business Chronicle reports. The firm will manage transactions of up to $250 million.

In other parts of the world

Asia Pacific: Reliance Nippon Life wins IPO approval; Australia to amend draft banking bill

Europe: Capital rules compromise; Santander ups ROE target; Italy bad loans decrease

Middle East & Africa: Shakeup in Kenyan election re-run; Ethiopian central bank hikes rate

The day ahead

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

In Asia, the Hang Seng fell 0.36% to 28,389.57, and the Nikkei 225 was up 0.28% to 20,881.27.

In Europe, as of midday, the FTSE 100 was nearly unchanged at 7,538.05, and the Euronext 100 had grown 0.02% to 1,046.13.

On the macro front

The Bank Reserve Settlement report, the MBA mortgage applications report, the JOLTS report and the FOMC minutes are due out today.

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