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Citigroup Inc. (C)

NYSE - NYSE Delayed price. Currency in USD
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67.61+0.34 (+0.51%)
At close: 04:00PM EDT
67.28 -0.33 (-0.49%)
Pre-market: 08:48AM EDT
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    Bank Stocks Celebrate Return of M&A, Ignore the Health of the Consumer

    Shares of JPMorgan and others have been rallying, but the sturggles faced by every-day Americans were visible in their earnings.

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    Bank earnings, spot ether ETF, US labor data: Market Domination

    The weather is sweltering today, but equities are still thriving (^DJI, ^IXIC, ^GSPC) Julie Hyman and Josh Lipton monitor the latest market movements and report on the biggest industry stories heading into Tuesday's market close. Mizuho US chief economist Steven Ricchiuto joins Market Domination to talk about what he is seeing in US labor and employment data and what it could mean about the supposed cooling economy. Bank earnings continue to roll out with Bank of America (BAC), Morgan Stanley (MS), and Charles Schwab (SCHW) reporting results today. CFRA director of equity research Ken Leon comes onto the program to discuss prevalent trends in Big Bank earnings and the direction investment banking businesses could head in the latter half of 2024. Ahead of Netflix's (NFLX) earnings due out on Thursday, July 18, Bloomberg Intelligence senior media analyst Geetha Ranganathan comments on the "very, very high" expectations for the streaming giant that it very well could live up to and even surpass for its past quarter. Other top trending stocks on the Yahoo Finance platform include UnitedHealth Group (UNH), Warner Bros. Discovery (WBD), Adidas (ADS.DE, ADDYY), and cryptocurrency ethereum (ETH-USD) around the expected launch of spot ether ETF products. This post was written by Luke Carberry Mogan.

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    How long will the investment banking boost last?

    With the potential for the Federal Reserve to cut interest rates as soon as this September, there may be added hurdles for investment banking to keep profitability high even after several banks reported positive second quarter results. CFRA director of equity research Ken Leon joins Market Domination to discuss the state of investment banking and how these big banks may operate moving forward in current and future interest rate environments. On sustainability of growth for investment banking, Leon comments: "We hit the trough for investment banking fees last year, probably in July. We're still at just the beginning of a rebound, but saying that, the first quarter, first half of this year had record results for debt cap, debt underwriting. But equity underwriting and IPOs, are still really in early innings of recovery. And keep in mind, there's two major sources for deals: one is obviously corporates, but the one that has not been participating as it tries to figure out valuation with rates is financial sponsors." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Nicholas Jacobino