Deposits have been under heavy scrutiny since several banks failed in March after customers suddenly yanked out their cash.īesides the Fed meeting, next week will also feature earnings reports from three of the “Magnificent Seven” companies behind the majority of the S&P 500’s gains this year. The regional bank also reported a decline in average customer deposits, though it said the levels stabilized in the second half of the quarter. It reported stronger profit for the spring than expected, but its revenue fell short of forecasts.Ĭomerica swung from an initial gain to a loss of 4.1% after reporting stronger profit and revenue for the spring than analysts expected. On the losing side of Wall Street was American Express, which fell 3.9%. They’re doing so by a bit less than usual, though, according to FactSet. The earnings reporting season is gaining momentum, and a majority of companies are reporting better results than expected. The company, which looks to dominate niche tech markets, also raised its financial forecasts for the full year. Roper Technologies rallied 3.7% for one of the larger gains in the S&P 500 after it reported better profit and revenue for the spring than analysts expected. The Nasdaq composite slipped 30.50, or 0.2%, to 14,032.81 a day after tumbling to its worst loss in more than four months. The Dow Jones Industrial Average added 2.51 points, or less than 0.1%, to 35,227.69, its 10th gain in a row. The S&P 500 edged up by 1.47, or less than 0.1%, to 4,536.34 to cap its eighth winning week in the last 10. NEW YORK (AP) - Wall Street closed out another winning week with a quiet Friday, as stocks found some stability after sliding the day before.
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