Bloomberg News and Videos — Page 176

Aasem Khalil, who heads the Dallas office of Goldman Sachs Group Inc., discusses why the bank chose the city's downtown area for its new campus and how it hopes to expand the number of partners in Texas. He speaks with Bloomberg's Julie Fine in Dallas.

As artificial intelligence, war and the specter of inflation drive investors' exuberance and worries, Wall Street's traders have cracked the code to come out on top every single time. Five of the biggest US banks reported second-quarter results Tuesday with their divisions handling equities surpassing one record after another. JPMorgan Chase & Co. reeled in $6 billion from stocks alone, a personal best, while Goldman Sachs Group Inc. hauled in $7.42 billion, a new industry high. Underscoring the trend, a 45% jump at Citigroup Inc. was seen by shareholders as too shallow. For more, we speak with Herman Chan, Senior US Banks Analyst for Bloomberg Intelligence.

Federal Reserve Chairman Kevin Warsh says he is focused on the central bank's 2% inflation target and price stability during testimony before the House Financial Services Committee.

Federal Reserve Chairman Kevin Warsh says the recent CPI data doesn't make him think it's "mission accomplished" or "everything is swell" during testimony before the House Financial Services Committee.

"We want to be in a position where we're not bailing out anybody, including crypto," Federal Reserve Chairman Kevin Warsh says during testimony before the House Financial Services Committee.

Federal Reserve Chairman Kevin Warsh gives his opening remarks before questioning from members of the House Financial Services Committee.

Federal Reserve Chairman Kevin Warsh honors the central bank's independence when asked by US Representative Nydia M. Velázquez (D-NY) if he works for President Donald Trump during testimony at the House Financial Services Committee.

International Business Machines Corp. shares slid by the most in at least 58 years after the company reported preliminary second-quarter sales that fell short of expectations, attributing the miss to customers shifting their spending to chips and servers amid AI-fueled shortages.  Anurag Rana, Bloomberg Intelligence Senior Tech Analyst, discusses the miss and what it means for IBM as well as the broader tech sector.

Baird Senior Research Analyst David George joined Bloomberg Open Interest to explain why stellar bank earnings aren't translating into stock gains. He says investors are facing a "buy the rumor, sell the news" moment as expectations reached extreme levels, while emphasizing that banks are far safer than before the financial crisis and that the US consumer remains resilient despite broader economic concerns.

Baird Senior Research Analyst David George joined Bloomberg Open Interest to explain why stellar bank earnings aren't translating into stock gains. He says investors are facing a "buy the rumor, sell the news" moment as expectations reached extreme levels, while emphasizing that banks are far safer than before the financial crisis and that the US consumer remains resilient despite broader economic concerns.