JPMorgan Chase & Co. reported fourth-quarter 2019 net income applicable to common stockholders
Citigroup Inc. posted fourth-quarter 2019 net income
Wells Fargo & Co. reported net income applicable to common stock
First Republic Bank is also expected to report its fourth-quarter and full-year 2019 financial results today.
Visa Inc. has entered into a
Wall Street's bonus culture
A low-interest-rate environment and growing competition are expected to stimulate refinancing and could result in more frequent payoffs for consumer and commercial loans
JPMorgan has placed one of its senior credit traders, Edward Koo, on leave as the company investigates whether he violated its policies by using WhatsApp to communicate with colleagues, Bloomberg News reported, citing people with knowledge of the matter. A source told the news outlet that the discussions over the messaging app
On another front, JPMorgan faces trouble as the Indian Supreme Court has allowed its federal anti-money laundering agency to seize the assets of the company's Indian unit, if required, for allegedly violating foreign investment rules
According to industry insiders and analysts, the outlook on Citi's 2020 strategy does not look great
Activist hedge funds saw great returns in 2019 after making concentrated bets on firms from different segments, Bloomberg News reports. The firms, which buy stakes in companies and push for changes, found great success
In an open letter, activist investor Driver Management Co. LLC urged the shareholders of Community Bankers Trust Corp. to join its call for the company to sell itself
The movement of the Federal Reserve's benchmark interest rate towards the lower end of its target range is hinting at another rate adjustment by the central bank at the end of January, Bloomberg News reports. The effective fed funds rate, which is related to the central bank's implementation of monetary policy, has been sliding towards the lower band
The Federal Housing Administration is trying to persuade banks to rejoin its program by promising milder enforcement of the False Claims Act, American Banker reports. Mortgage Bankers Association Residential Policy Senior Vice President Pete Mills said the servicing rules and processes at the FHA are "outdated and expensive," according to the news outlet. Further, Keefe Bruyette & Woods Managing Director Bose George added that despite changes made by the Department of Housing and Urban Development and the FHA, banks are still exercising caution
In other parts of the world
Asia-Pacific: India mulls new regulatory body; AMP to consolidate operations
Europe: Possible new Wirecard probe; Danske job cuts; Credit Suisse fossil fuel defense
Middle East & Africa: Bank Audi mulls unit sale; Beltone eyes expansion; SCB Cameroun gets new boss
Now featured on S&P Global Market Intelligence
Truist, Piper deals push new names to top of US bank M&A league tables in 2019: Two mergers in both the banking and financial advisory space changed the face of the U.S. bank M&A league tables in 2019.
J.P. Morgan tops bank common equity offerings in 2019: J.P. Morgan Securities led the way in underwriting both common and preferred equity offerings in 2019 for the U.S. bank and thrift industry, according to S&P Global Market Intelligence's latest league table.
The day ahead
Early morning futures indicators pointed to a lower opening for the U.S. market.
In Asia, the Hang Seng decreased 0.24% to 28,885.14, while the Nikkei 225 rose 0.73% to 24,025.17.
In Europe, around midday, the FTSE 100 was down 0.23% to 7,600.13, and the Euronext 100 was down 0.14% to 1,154.97.
On the macro front
The NFIB Small Business Optimism Index, CPI and the Redbook 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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