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JPM Jun 2024 175.000 put
| Previous close | 2.7900 |
| Open | 2.9800 |
| Bid | 3.2500 |
| Ask | 3.3000 |
| Strike | 175.00 |
| Expiry date | 2024-06-21 |
| Day's range | 2.8500 - 3.6200 |
| Contract range | N/A |
| Volume | |
| Open interest | 5.07k |
- Yahoo Finance Video
Big bank earnings show consumers may be losing spending steam
In the wake of earnings reports from major banks like Bank of America (BAC) and Morgan Stanley (MS), a mixed picture is emerging about the state of consumer spending. While the banks have stressed that consumers are continuing to spend despite uncertainty around inflation, there are also signs of rising consumer credit stress. Bank of America, for instance, reported that its net charge-offs — debts unlikely to be recovered — rose to $1.5 billion year over year, up from $807 million in the prior-year period. At the same time, banks have noted a decline in net interest income, which is the difference between what banks earn on loans and what they pay on deposits. These figures raise concerns about whether consumers can sustain their current spending habits in an inflationary environment. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance. This post was written by Angel Smith
Yahoo FinanceBank of America profits drop as key lending revenue weakens
The results from the nation's second-largest lender offer the latest example of how even the biggest banks are increasingly challenged by high interest rates.
- Reuters
Wall Street bosses cheer investment banking gains but stay cautious
Wall Street's bosses are finally seeing signs of a broader pickup in investment banking, but they are not cheering too loudly just yet. Investment banking divisions showed robust growth in the first quarter for the largest U.S. banks, which reported surging revenues and fees. Capital markets led the comeback, executives said.
