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Goldman Q3 EPS climbs YOY; Robinhood earns rebates from high-speed traders

Goldman Sachs Group Inc. and Morgan Stanley reported higher earnings for the third quarter.

Morgan Stanley's EPS grew 26% year over year to $1.17, while Goldman posted a 25% rise in EPS.

In other earnings news, Comerica Inc. reported higher earnings in the third quarter on a year-over-year basis.

In other banking news, JPMorgan Chase & Co. is looking to open its first branch in Nashville, Tenn., and its first locations in Raleigh and Chapel Hill, N.C., according to the Nashville Business Journal and the (Raleigh) Triangle Business Journal.

TD Bank made a $3 million loan to a subsidiary of Prevezon Holdings, a company connected to Russian tax fraud, despite red flags raised during the loan approval process, BuzzFeed News reports, citing bank documents.

Visa Inc., Mastercard Inc. and several other payment companies missed the Reserve Bank of India's Oct. 15 deadline to comply with data localization requirements set by the central bank, sources told The Hindu BusinessLine.

Robinhood Markets Inc. was generating over 40% of its revenue by selling customers' orders for stock trades to high-frequency trading firms earlier in 2018, unnamed sources told Bloomberg News.

In preparation for Brexit, U.S. cryptocurrency exchange Coinbase Inc. is opening an office in Dublin and hire about a dozen employees, the Financial Times reports.

And in regulatory news, New Jersey's Bureau of Securities is seeking public comment on a pre-proposal that would subject brokers, agents, investment advisers and investment adviser representatives to a fiduciary duty when giving clients investment advice, Investment News reports.

In other parts of the world

Asia Pacific: NAB flags extra A$314M costs; Suncorp mulls unit sale; Star Health deal gets nod

Europe: Santander, Blackstone in Popular talks before resolution; Slovenia to float NLB

Middle East & Africa: Old Mutual cuts Nedbank stake; Masraf Al Rayan posts YOY rise in Q3 profit

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Deposit betas exceed loan betas at US community banks: Deposit costs at community banks rose at a quicker pace than loan yields in the second quarter and the trend is unlikely to change.

Deposit growth remains challenging for CUs, community banks alike: While concerns about deposit gathering among credit unions continue to fester, the sector hit a lending landmark in the second quarter of 2018.

The day ahead

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

In Asia, Hang Seng gained 0.07% to 25,462.26, while the Nikkei 225 rose 1.25% to 22,549.24.

In Europe, around midday, the FTSE 100 shed 0.30% to 7,008.24, and the Euronext 100 rose 0.44% to 992.65.

On the macro front

The Redbook index for retail sales, the industrial production report, the housing market index, the Labor Department's Job Openings and Labor Turnover Survey and the Treasury International Capital 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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