The US markets gave up a morning rally in the last hour of trade on Wednesday to close the session lower as investors increasingly fear the feds tightening the monetary policy in the coming months. SoFi soared 13.68% on Wednesday after the online personal finance company received a long-sought regulatory approval to become a bank. SoFi will operate its subsidiary SoFi bank through the acquisition of California community lender Golden Pacific Bancorp. A spotlight on Procter & Gamble as the consumer goods giant rallied yesterday on the release of second quarter results that exceeded market expectations including net sales up 6% as the company benefited from a price rise on select products during the quarter. Instagram has announced it is launching subscription services for users to monetise access to specific content for superfans.
VIDEO: SoFi soared 13.7% on receipt of approval to be a bank
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