Lending was up in the first quarter, but that jump has hidden the fact that individuals are still having a tough time getting loans.
FORTUNE -- Consumers are still getting crunched.
In the past week, the nation's biggest banks reported their results for the first three months of the year. Earnings were disappointing. But the numbers also showed a significant increase in lending, which many economists said was a welcome sign for the MOREStephen Gandel, senior editor - Apr 18, 2014 5:00 AM ET
CEO James Gorman proves that there are, in fact, second acts on Wall Street.
FORTUNE -- James Gorman appears to have found Wall Street's secret sauce.
In a quarter when nearly all of its rivals struggled, Morgan Stanley (MS) reported better-than-expected earnings for the first three months of the year. Profits from continuing operations rose to $1.39 billion, up from $1.18 billion a year ago. Analysts had expected the company to earn MOREStephen Gandel, senior editor - Apr 17, 2014 11:04 AM ET
Occupy Wall Street rejoice: As more people land jobs, bank earnings are looking down.
FORTUNE -- Here's a switch: The bankers are all of a sudden doing worse than the butchers, the bakers, and the candlestick makers.
On Wednesday, Bank of America (BAC) announced that it had lost nearly $300 million in the first quarter. Analysts were expecting the bank to turn a profit. A year ago, it earned $1.5 billion. Meanwhile, MOREStephen Gandel, senior editor - Apr 17, 2014 5:00 AM ET
Investors might want to take a closer look at the part of the bank Citi executives have been telling them to ignore.
FORTUNE -- If it wasn't for Citigroup's bad bank, Citi's results wouldn't look so good.
On Monday, Citi (C) announced that its earnings in the first quarter were up 3.5% from a year ago to $3.9 billion. Take out one-time items, and the bottom line was $4.1 billion. Citi's investors MOREStephen Gandel, senior editor - Apr 15, 2014 5:00 AM ET
That's bad news for the housing market and the economy in general.
FORTUNE -- If you are wondering why you can't get a mortgage, here's an answer: Every time JPMorgan Chase makes a home loan, it loses money, $1,500 on average. That might not make JPMorgan want to make so many loans.
That helps explain why banks are lending so little, and why the housing recovery, which seemed to be zooming along just a MOREStephen Gandel, senior editor - Apr 11, 2014 3:37 PM ET
The bank may have disclosed a new earnings target to some, but not all, of its investors.
FORTUNE -- Citigroup may be getting itself into more trouble.
In the past week or so, Citi has reportedly been indicating it may not reach a return on tangible common equity -- a key metric for investors -- of 10% by 2015. Citi (C) CEO Michael Corbat publicly set that target in a speech a MOREStephen Gandel, senior editor - Apr 10, 2014 4:31 PM ET
The JPMorgan CEO says QE worked.
FORTUNE -- Jamie Dimon, the CEO of America's biggest bank, says it's time to stop worrying about the Fed. After all, he's not worried.
In his annual letter to shareholders, which was released on Wednesday afternoon, the CEO of JPMorgan Chase (JPM) said there is "little question" that the Federal Reserve's signature stimulus program boosted the economy and hastened the recovery. What's more, he says the MOREStephen Gandel, senior editor - Apr 10, 2014 5:00 AM ET
The Federal Reserve specifically cited "too big to fail" as a reason for the stricter rules.
FORTUNE -- Banks will have to come up with more money to prove to regulators they're safe. Others may still not be convinced.
U.S. bank regulators on Tuesday officially upped the amount of excess assets the nation's eight largest banks must hold to cover potentially bad loans or soured investments. In a memo, the Federal Reserve estimated that MOREStephen Gandel, senior editor - Apr 8, 2014 5:15 PM ET
Even after the recent drop in the Nasdaq, investors are too pumped about technology stocks.
FORTUNE -- For tech stocks, growth may no longer be coming at a reasonable price, even after the recent pull-back.
Technology stocks are down 6% since they peaked in early March. And that drop is larger than the dip in the general market during the same time period.
But that doesn't mean there are bargains to be had. The average MOREStephen Gandel, senior editor - Apr 8, 2014 5:00 AM ET
The rebound has been particularly good for those in management and professional services jobs. Finance workers make 20% more.
FORTUNE -- The better off are still better off. And the rest of us are not doing any better at catching up.
This month's jobs report, which came out on Friday, showed that we have nearly regained all the jobs that were lost in the recession. That's good, I guess. But it's also MOREStephen Gandel, senior editor - Apr 4, 2014 2:36 PM ET
|5 people you might not tip (but should)|
|General Mills reverses course on right to sue after backlash|
|Pope Francis challenges the free market - The Buzz|
|Stocks: It's report card time on Wall Street|
|Americans have fallen in love with real estate once again|