Bank of Canada Increases key rate by full percentage point to 2.5%
The Bank of Canada upped its policy rate by 100 basis points to 2.5% on Wednesday, exceeding the 75 basis point increase forecast, and is continuing its quantitative tightening as it fights to contain inflation. ... [Read]
Scotiabank and BMO Beat Earnings Forecasts, Hike Dividends
Scotiabank (TSX:BNS)(NYSE:BNS) and Bank of Montreal (TSX:BMO)(NYSE:BMO) kicked off Canadian big bank’s second-quarter results on Wednesday with better-than-expected earnings, which were helped by lower provisions for credit losses and continued loan growth. Mortgage growth and ... [Read]
Top Bank Stocks to Watch After Quarterly Earnings
The capital markets have been in turmoil for some weeks now, and like many other sectors, top bank stocks have also suffered during the sell-off. Since hitting highs in the middle of February, some of ... [Read]
MS Stock Soars as Morgan Stanley Posts Record Earnings
MS stock is sparing on Thursday after Morgan Stanley (NYSE:MS) posted record earnings in the fourth quarter, which smashed analysts’ expectations. The bank reported a 46% gain in profits to US$2.23 billion, or $1.30 per ... [Read]
WFC Stock Drops After Being Downgraded By Analysts
WFC stock is in the red today after Wells Fargo (NYSE:WFC) was downgraded to “underperform” by analysts who cite a lingering “stigma” around the banking giant after an accounts scandal in 2016. Wells Fargo was ... [Read]
FNMA and FMCC Stock Up 40% as More Details on Reforms Emerge
Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC) stock are today’s biggest gainers as more details emerge from the Treasury’s reform package. As we reported last week, FNMA and FMCC stock sunk around 8% following the ... [Read]
Trump Reveals Fannie Mae and Freddie Mac Reforms, FNMA Stock Sinks
The Trump administration revealed yesterday plans to reform Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC), which has sunk both FMCC and FNMA stock. Investors have been eagerly awaiting the unveiling of Trump’s plans to release the ... [Read]
Trump Plans Freddie Mac Reforms, Boosting FMCC Stock 12.6%
According to reports, the US Treasury is finalizing reform plans for Freddie Mac (OTCQB:FMCC) and Fannie Mae (OTCQB:FNMA), boosting FMCC stock. Public Bailout Reports emerged on Wednesday afternoon that the US Treasury Department is close to finalizing ... [Read]
Bank of America Raises Minimum Wage to $20 Per Hour
Bank of America (NYSE:BAC) announced yesterday that it will raise the minimum wage for employees to $20 an hour over the course of the next two years. It will also freeze health care cost increases for ... [Read]
Canada’s Unemployment Rate Drops to Lowest Level in Decades
Good news for Canada’s workforce! Canada’s unemployment rate is at the lowest it has been in years. 5.6% low to be more precise. The news comes as the increase in job numbers in November beat ... [Read]