Forreston, Ill.-based High Point Financial Services Inc. agreed to acquire
South Texas Money Management Ltd. agreed to join independent
The team of financial planning startup Grove will join Wealthfront Inc. The tie-up is expected to help Wealthfront boost its efforts to deliver its Self-Driving Money offering.
Wells Fargo & Co. agreed to settle a lawsuit filed against it by the Navajo Nation, Reuters reports. The complaint, which was filed in federal and tribal courts in 2017, accused the bank of opening unauthorized accounts for vulnerable members of the tribe. The bank will pay a settlement fee of $6.5 million
Philadelphia Fed chief Patrick Harker and Dallas Fed President Robert Kaplan remain hesitant
A Federal Reserve Bank of New York survey of primary dealer banks found that majority of the respondents thought communication from the central bank shortly before the July Federal Open Market Committee meeting was ineffective, The Wall Street Journal reports. The survey found the central bank's communication to be confusing and inconsistent.
The U.S. Securities and Exchange Commission approved Long-Term Stock Exchange Inc.'s first set of listing requirements, providing critical clearance
Additionally, the SEC fined Deutsche Bank AG more than $16 million
Service CU and former CEO Gordon Simmons have settled
In other parts of the world
Asia-Pacific: AIA value of new business rises YOY; CBA revises life insurance deal
Europe: ECB bad loan extension; EU €100B sov wealth fund; Deutsche prime brokerage move
Middle East & Africa: Old Mutual fires ex-CEO again; Egypt cuts rates; Sudan's new prime minister
Now featured on S&P Global Market Intelligence
Delinquencies, charge-offs mixed at card issuers in July : Major U.S. credit card issuers posted mixed results month over month in July. Average delinquencies among master trust portfolios at six large card issuers — American Express, Bank of America, Capital One Financial, Citigroup, Discover Financial Services and JPMorgan Chase — rose 2 basis points month over month to 1.44% in July.
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng rose 0.50% to 26,179.33, and the Nikkei 225 increased 0.40% to 20,710.91.
In Europe, around midday, the FTSE 100 was up 0.57% to 7,169.09, and the Euronext 100 was up 0.42% to 1,049.99.
On the macro front
The new home sales report and the Baker-Hughes Rig Count report are due out today.
Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.
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