The trading business on Wall Street is struggling and that could mean bad news for these banks [CNBC]
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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Source: CNBC
The trading business on Wall Street is struggling and that could mean bad news for these banks Getty Images JPMorgan Chase chairman and CEO Jamie Dimon. One of Wall Street's big money-makers has been disappointing for major banks lately. Trading stocks and bonds on behalf of clients has historically been a cash-cow, especially in choppy markets. But as the top U.S. banks report results from the last quarter of 2018, it's becoming clear that trading wasn't a boost to banks' bottom lines. Citigroup and J. P. Morgan both unveiled lower-than-expected fourth quarter trading revenue, especially for fixed income. While it could be a one-off for what was a dismal December in the markets, analysts say it's likely to be a theme as companies like Goldman Sachs Bank of America Morgan Stanley The business of trading Investment banks play a major role in the functioning of markets. They take a sell orders, find buyers and profit off of being the middlemen in a variety of securities transactions, in
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WFC
Earnings
- 1/12/24 - Miss
WFC
Sec Filings
- 3/26/24 - Form PX14A6G
- 3/25/24 - Form EFFECT
- 3/22/24 - Form 424B2
- WFC's page on the SEC website