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Sectors

Sector Update: Financial Stocks Softer in Afternoon Trading

Financial stocks were lower in Thursday afternoon trading, with the NYSE Financial Index decreasing 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.4%.The Philadelphia Housing Index was falling 2.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.9%.Bitcoin (BTC-USD) was down 0.2% to $64,580, and the yield for 10-year US Treasuries was rising 5.7 basis points to 4.67%.In economic news, small businesses reported that the level of worker shortages was higher in July, with a seasonally adjusted 36% of respondents in a National Federation of Independent Business survey released Thursday saying they were having trouble hiring the workers that they needed, up from 32% in the previous month and the highest since June 2025. The NFIB's Small Business Employment Index rose to 102.1 in July from 100.2 in June, still above the historical average of 100.0 and the 2025 average of 101.2.In corporate news, Apollo Global Management's (APO) Eagle Bidco and EasyJet have reached an agreement under which the Apollo fund will buy the airline for 7.15 British pounds ($9.63) per share in cash, according to a regulatory filing with the London Stock Exchange. Apollo shares were shedding 1.7%.Deutsche Bank (DB) and KBC have frozen some of Radiant World's bank accounts in Singapore, as pressure mounts on the commodities trader, Bloomberg reported. Some of the largest commodity trading firms have stopped dealing with Radiant World due to concerns it gave banks falsified documents about iron ore trades, Bloomberg reported last week. Deutsche shares were down 0.8%.JPMorgan Chase (JPM) underwent a federal probe this year as prosecutors looked into claims the lender ignored deficiencies in its anti-fraud program and improperly denied more than $100 million in reimbursements for stolen money, The Wall Street Journal reported. JPMorgan shares declined 0.9%.

$APO$DB$JPM
Wire

Top Midday Stories: Apollo Acquires EasyJet in Deal Valued at $7.68 Billion; Honeywell Aerospace Shares Fall Following Guidance Cut

The Dow Jones Industrial Average was down in late-morning trading Thursday, while the the S&P 500 and Nasdaq Composite were up slightly, as investors watch for developments in the process to reopen the Strait of Hormuz.In company news, Apollo Global Management's (APO) Eagle Bidco and EasyJet have reached an agreement through which the Apollo fund will acquire the airline for 7.15 British pounds ($9.63) per share in cash, according to a regulatory filing with the London Stock Exchange. The deal values EasyJet at 5.7 billion British pounds, according to the filing. Apollo shares were down 1.2% around midday.Honeywell Aerospace (HONA) reported fiscal Q2 adjusted EPS late Wednesday of $1.87, down from $2.75 a year earlier. Fiscal Q2 revenue was $4.52 billion, up from $4.29 billion a year ago but below the FactSet consensus of $4.61 billion. For fiscal 2026, the company expects organic growth of 4% to 5%, down from its prior outlook of 7% to 9%. Analysts polled by FactSet expect full-year revenue of $18.91 billion. Honeywell Aerospace shares were down 20.3%.Sandisk (SNDK) reported fiscal Q4 adjusted earnings late Wednesday of $39.25 per diluted share, up from $0.29 a year earlier and above the FactSet consensus of $34.96. Fiscal Q4 revenue was $8.97 billion, up from $1.90 billion a year ago and above the FactSet consensus of $8.48 billion. For fiscal Q1, the company expects adjusted EPS of $44 to $46 on revenue of $10.30 billion to $10.80 billion. Analysts polled by FactSet expect $44.72 and $10.82 billion, respectively. Sandisk also said its board approved a share buyback expansion by an additional $14 billion, bringing the total remaining authorization to $15.5 billion. Sandisk shares were down 3.2%.Alphabet (GOOG, GOOGL) has started marketing a US investment-grade bond sale in as many as 10 parts, with maturities ranging from two to 40 years, Bloomberg reported Thursday, citing a person familiar with the matter. The tech giant is seeking up to $25 billion from the sale, according to a separate Bloomberg report, which cited people familiar with the matter. Alphabet Class C and Class A shares were down 0.7% and 0.8%, respectively.SpaceX (SPCX) will build a vertically integrated semiconductor fabrication facility in Grimes County, Texas, Governor Greg Abbott said Thursday in a statement. Phase one of the Terafab project includes a capital investment of more than $16.8 billion, Abbott said. SpaceX shares were up 2.5%.Western Digital (WDC) reported fiscal Q4 non-GAAP EPS late Wednesday of $3.56, up from $1.70 a year earlier and above the FactSet consensus of $3.31. Fiscal Q4 revenue was $3.75 billion, up from $2.1 billion a year ago and above the FactSet consensus of $3.70 billion. For fiscal Q1, the company expects non-GAAP EPS of $4.00, plus or minus $0.15, and revenue of $4.1 billion, plus or minus $100 million. Analysts polled by FactSet expect $3.84 and $4.06 billion, respectively. Western Digital shares were down 8.6%.AppLovin (APP) reported Q2 EPS late Wednesday of $3.76, up from $2.39 a year earlier and matching the FactSet consensus. Second-quarter revenue was $1.92 billion, up from $1.26 billion a year ago but below the FactSet consensus of $1.94 billion. For Q3, the company expects revenue of $2.06 billion to $2.09 billion, compared to the FactSet consensus of $2.08 billion. Applovin shares were down 20.1%.Datadog (DDOG) reported Q2 non-GAAP net income of $0.65 per diluted share, up from $0.46 a year earlier and above the FactSet consensus of $0.58. Second-quarter revenue was $1.12 billion, up from $826.8 million a year ago and above the FactSet consensus of $1.08 billion. For Q3, the company expects non-GAAP net income per share of $0.63 to $0.65 on revenue of $1.135 billion to $1.145 billion. Analysts polled by FactSet expect non-GAAP EPS of $0.61 on revenue of $1.11 billion. For full-year 2026, the company expects non-GAAP EPS of $2.50 to $2.54, up from its previous guidance of $2.3 to $2.44, and it raised its revenue guidance to $4.45 billion to $4.47 billion from $4.30 billion to $4.34 billion. Analysts polled by FactSet expect $2.42 and $4.35, respectively. Datadog shares were down 15.8%.Palo Alto Networks' (PANW) products sold in China are undergoing a cybersecurity review by the Cyberspace Administration of China, Bloomberg reported Thursday. Palo Alto shares were down 1.7%.Microsoft-backed (MSFT) OpenAI asked a federal judge to dismiss Apple's (AAPL) trade-secrets lawsuit as meritless, Bloomberg reported Thursday, citing a court filing. Microsoft shares were up 1.7%, while Apple shares were down 0.3%.Deutsche Bank (DB) and KBC Group have frozen some of Radiant World's bank accounts in Singapore, as pressure mounts on the commodities trader, Bloomberg reported Thursday, citing people familiar with the matter. DB shares were down 0.7%.Price: $128.12, Change: $-1.63, Percent Change: -1.25%

$AAPL$APO$APP$DB$DDOG$GOOG$GOOGL$HONA$MSFT$PANW$SNDK$SPCX$WDC
Sectors

Sector Update: Financial Stocks Mostly Lower Pre-Bell Wednesday

Financial stocks were mostly lower pre-bell Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.2%.The Direxion Daily Financial Bull 3X Shares (FAS) fell by 0.5%, and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.9% higher.UBS Group (UBS) shares traded up 1% in early-hours activity after the company reported higher Q2 earnings and revenue.Deutsche Bank (DB) rose more than 3% after the company reported Q2 earnings and net revenue.Lemonade (LMND) fell more than 16% after the company reported a Q2 net loss.

$DB$FAS$FAZ$LMND$UBS$XLF
Wire

Deutsche Bank Q2 Earnings, Revenue Rise; Shares Up Pre-Bell

Deutsche Bank (DB) reported Q2 earnings Wednesday of 1.91 billion euros ($2.18 billion), up from 1.73 billion euros a year earlier.Analysts polled by FactSet expected 1.51 billion euros.Net revenue for the quarter, expressed as the sum of net interest income and total noninterest income, was 8.48 billion euros, compared with 7.80 billion euros a year earlier.Four analysts expected 8.13 billion euros.Shares of the company rose more than 4% in recent premarket activity Wednesday.Price: $37.05, Change: $+1.69, Percent Change: +4.78%

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Sectors

Sector Update: Financial Stocks Mixed in Afternoon Trading

Financial stocks were mixed in Wednesday afternoon trading, with the NYSE Financial Index fractionally higher and the State Street Financial Select Sector SPDR ETF (XLF) down 0.1%.The Philadelphia Housing Index rose 0.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) shed 0.4%.Bitcoin (BTC-USD) was declining 0.7% to $66,049, and the yield for 10-year US Treasuries was rising 2.6 basis points to 4.654%.In sector news, Kalshi said Wednesday that it will launch a new election portal aimed at becoming a key reference point for US election odds ahead of the November midterm elections, according to multiple media reports. The New York-based prediction market platform said the portal will combine traditional campaign polling, fundraising data, political news and trading activity from its election markets.In corporate news, Coinbase (COIN) has settled its Freedom of Information Act lawsuit against the US Securities and Exchange Commission with the regulator agreeing to provide additional documents and pay $150,000, a court filing said Wednesday. Coinbase shares were down 3.5%.CME (CME) shares jumped past 5% after it reported Q2 adjusted earnings Wednesday of $2.99 per diluted share, up from $2.96 a year earlier. Analysts polled by FactSet expected $2.91.Deutsche Bank's (DB) Frankfurt headquarters were searched by German prosecutors on Wednesday as part of an investigation into historic transactions conducted by Postbank between 2008 and 2010, Bloomberg reported. Deutsche shares were up 0.8%.

$CME$COIN$DB
Sectors

Sector Update: Financial Stocks Advance Monday Afternoon

Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index rising 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.4%.The Philadelphia Housing Index was falling 1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.3%.Bitcoin (BTC-USD) was declining 3% to $62,136, and the yield for 10-year US Treasuries was rising 4.5 basis points to 4.614%.In corporate news, First Hawaiian (FHB) agreed to buy TriCo Bancshares (TCBK) in an all-stock deal to create one of the largest banks headquartered in the western US, with combined assets of about $34 billion. First Hawaiian shares were down 3.7%, and TriCo jumped past 11%.Brookfield (BN) is in advanced talks to acquire a stake in Hudson Square Properties in a deal that would value the office portfolio at $3.5 billion, The Wall Street Journal reported. Brookfield shares were down 1%.Deutsche Bank (DB) has hired four private bankers from Standard Chartered, including Managing Director Eleftherios Sachanidis, as the German lender builds out its wealth management operations in Dubai, Bloomberg reported. Deutsche shares were shedding 1.5%.

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Wire

Market Chatter: Deutsche Bank's DWS Group Plans to Rebrand as Deutsche Asset Management

Deutsche Bank's (DB) DWS Group plans to rebrand as Deutsche Asset Management later this year to drive brand awareness outside its main German market, Bloomberg reported Wednesday, citing sources familiar with the matter.Sources said Deutsche Bank has no immediate plan to regain full ownership of the asset management division, and one source said DWS will maintain its current brand in Germany, according to the report.Bloomberg said a DWS representative confirmed that the division is looking to boost its international visibility, but noted that no decision has been made yet.Deutsche Bank and DWS Group did not immediately respond to' requests for comments.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $35.73, Change: $-0.91, Percent Change: -2.48%

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Sectors

Sector Update: Financial Stocks Rise in Afternoon Trading

Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index rising 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.9%.The Philadelphia Housing Index increased 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.7%.Bitcoin (BTC-USD) was climbing 2.9% to $61,823, and the yield for 10-year US Treasuries was higher at 4.488%.In economic news, the June employment report showed nonfarm payrolls rose by 57,000, according to the Bureau of Labor Statistics, below the 113,000 jump expected in a Bloomberg-compiled survey. May payrolls were revised downward to a 129,000 gain, and April payrolls were revised down to a 148,000 expansion, for a net downward revision of 74,000 jobs.In corporate news, Two Blue Owl Capital (OWL) business development companies received large redemption requests for the second consecutive quarter, Bloomberg reported. Blue Owl Credit Income, or OCIC, received requests amounting to 18.8% of shares, or $3.6 billion, while Blue Owl Technology Income received shareholder requests totaling 38.1%, or $1.1 billion, the report said. Blue Owl Capital shares were up 4.5%.JPMorgan Chase (JPM) will join Gulf banks in helping arrange roughly $7 billion of debt financing for a Qatari company's projects in Syria, Bloomberg reported. JPMorgan shares were down 0.3%.Deutsche Bank (DB) shares gained 5% after the company said it has reached a new collective bargaining package for Postbank workers with trade unions.

$DB$JPM$OWL
Sectors

Sector Update: Financial Stocks Advance Premarket Thursday

Financial stocks were advancing premarket Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.6% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 1.9% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.3% lower.Deutsche Bank (DB) stock was up more than 6% after the company said it has reached a new collective bargaining package for Postbank workers with trade unions.Robinhood Markets (HOOD) Chief Executive Officer Vlad Tenev believes the UK should expand retail share buying by replicating successful US retirement and investment strategies, Bloomberg News reported, citing a Bloomberg Television interview with Tenev. Shares of Robinhood Markets were up more than 3% pre-bell.Yiren Digital (YRD) shares were up more than 19% after the company said its board approved a new $20 million share repurchase program, allowing it to buy back up to 10% of its outstanding shares or American depositary shares over the next 12 months.

$DB$FAS$FAZ$HOOD$XLF$YRD
Sectors

Sector Update: Financial

Financial stocks were advancing premarket Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.7% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 1.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.5% lower.Deutsche Bank (DB) stock was 7% higher after the company said it has reached a new collective bargaining package for Postbank workers with trade unions.

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Sectors

Sector Update: Financial Stocks Lower Tuesday Afternoon

Financial stocks were softer in Tuesday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each decreasing about 0.2%.The Philadelphia Housing Index was shedding 0.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.3%.Bitcoin (BTC-USD) dropped 2.9% to $58,402, and the yield for 10-year US Treasuries was rising 3.2 basis points to 4.406%.In economic news, US job openings rose to 7.594 million in May, according to the Bureau of Labor Statistics, above the 7.296 million openings expected in a Bloomberg-compiled survey and up from the 7.585 million openings reported in April.The Conference Board's measure of consumer confidence rose to 91.2 in June from a downwardly revised 90.6 in May, below the 94.4 expected in a Bloomberg-compiled poll.The Institute for Supply Management's Chicago PMI fell to 56.7 in June from 62.7 in May, compared with the expected 55.1 reading in a Bloomberg-compiled survey.The Dallas Federal Reserve's monthly general business services index rose to a reading of 2.9 in June from minus 7.7 in May, indicating expansion.In corporate news, Helix Infrastructure Partners, a new AI infrastructure firm backed by KKR (KKR) and Nvidia (NVDA), is looking to buy a data center company in an effort to quickly bring new data center space to hyperscalers, The Information reported. KKR shares rose 1.6%.Ares Management (ARES) and Alibaba (BABA) co-founder Joe Tsai led a $100 million investment in the Premier Lacrosse League, valuing the league at more than $500 million, Bloomberg reported. Ares shares rose 2%.Deutsche Bank (DB) said Tuesday it has agreed to sell its retail banking, private banking and wealth management business in India to Kotak Mahindra Bank. Deutsche shares were down 0.8%.

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Wire

Deutsche Bank to Sell India Retail, Private Banking Businesses to Kotak Mahindra

Deutsche Bank (DB) said Tuesday it entered into a definitive agreement to sell its retail banking, private banking and wealth management business in India to Kotak Mahindra Bank.The business comprises about 290 billion Indian rupees ($3.07 billion) in loans, 160 billion rupees in deposits, and 105 billion rupees of assets under management.The business serves around 150,000 customers through a team of about 1,000 employees.The transaction is expected to be accretive to Kotak's return on equity and Deutsche Bank's Common Equity Tier 1 capital ratio upon closing.Deutsche Bank said that the deal is expected to close by September 2027.Price: $33.78, Change: $-0.04, Percent Change: -0.10%

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Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Monday Amid US-Iran Ceasefire

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 1.3%, and the actively traded Invesco QQQ Trust (QQQ) advanced 2.1% in Monday's premarket activity, as the US and Iran said they have agreed to a ceasefire.US stock futures were also higher, with S&P 500 Index futures up 1.3%, Dow Jones Industrial Average futures advancing 0.9%, and Nasdaq futures gaining 2.1% before the start of regular trading.The New York Federal Reserve's Empire State manufacturing index fell to 5.7 in June from 19.6 in May, compared with a smaller expected decrease to a reading of 13.5 in a survey compiled by Bloomberg.The industrial production report for May will be released at 9:15 am ET, followed by the housing market index for June at 10 am ET.In premarket action, bitcoin was up by 3.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 4.2% higher, Ether ETF (EETH) advanced 5.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 1.4%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 1.2%, while the Vanguard Industrials Index Fund (VIS) rose 1.7% and the iShares US Industrials ETF (IYJ) was 0.1% higher.SpaceX (SPCX) rose more than 6% before market open after the Elon Musk-led company finished its trading debut on Friday with a 19% rise.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained by 2.8%, and the iShares US Technology ETF (IYW) was 2.9% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 3.4%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) rose 4%, while the iShares Semiconductor ETF (SOXX) increased by 4.2%.Tower Semiconductor (TSEM) shares were up more than 6% in premarket activity after the company entered into a multi-year agreement with IQE for the supply of indium phosphide epiwafers used in optical connectivity offerings for data center infrastructure.EnergyThe iShares US Energy ETF (IYE) was down 2% while the State Street Energy Select Sector SPDR ETF (XLE) was down by 2.8%.Equinor ASA (EQNR) stock was down more than 5% before the opening bell after the company said it is advancing a fourth phase of development at the Johan Sverdrup field in the North Sea after new appraisal wells confirmed additional recoverable oil volumes in the area.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.1%, the Vanguard Health Care Index Fund (VHT) was up 0.8%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was 1.1% higher.Zymeworks (ZYME) was up more than 2% premarket a day after the biotechnology company said its drug to treat certain reproductive tract cancers has shown promise in early testing.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) was up 2.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 2% lower.Deutsche Bank (DB) shares were up more than 3% pre-bell as media outlets reported that JPMorgan Chase (JPM) and Deutsche Bank will participate in Singapore's planned gold-clearing system. JPMorgan stock was 0.8% higher.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.4% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 1%. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained by 1.5%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) increased by 1.1%.Tesla (TSLA) shares were up more than 1.6% pre-bell after closing Friday with a 1.8% rise. News agency Reuters claimed Monday that the electric vehicle maker relied on misleading data when it made representations to European regulators about enhanced safety from its self-driving vehicles.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 5.4% to $80.29 per barrel on the New York Mercantile Exchange. Natural gas retreated by 1.4% at $3.08 per 1 million British Thermal Units. The United States Oil Fund (USO) declined by 4.6%, while the United States Natural Gas Fund (UNG) was 1.4% lower.Gold futures for July advanced by 2.6% to $4,347.00 an ounce on the Comex. Silver futures rose by 4.1% to $70.75 an ounce. SPDR Gold Shares (GLD) was up by 3.1%, and the iShares Silver Trust (SLV) rose by 4.8%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$DB$EEM$EETH$EQNR$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$JPM$PMR$QQQ$RTH$SLV$SOXX$SPCX$SPY$TSEM$TSLA$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD$ZYME
Sectors

Sector Update: Financial Stocks Rise Premarket Friday

Financial stocks were rising premarket Friday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.4% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 1.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.2% lower.Barclays (BCS) has agreed to acquire the UK operations of GoHenry, a money management education platform for youths, from Acorns Grow, the British financial services giant said. Shares of Barclays were up more than 1% pre-bell.Deutsche Bank (DB) has appointed Robert Huray as head of investment banking and capital markets for Southeast Asia, Bloomberg reported, citing people familiar with the matter. Deutsche Bank stock was more than 2% higher premarket.Charles Schwab (SCHW) said its Schwab Asset Management unit received board approval to close and liquidate the Schwab Ariel Opportunities ETF. Charles Schwab shares were up 0.6% pre-bell.

$BCS$DB$FAS$FAZ$SCHW$XLF
Sectors

Sector Update: Financial Stocks Decline Wednesday Afternoon

Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.9%.The Philadelphia Housing Index was down 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.7%.Bitcoin (BTC-USD) was falling 2.4% to $65,724, and the yield for 10-year US Treasuries was rising 5 basis points to 4.497%.In economic news, the Organization for Economic Co-operation and Development lowered its global economic growth projection for 2026, cautioning that the fallout from the Middle East conflict may linger for some time even after its resolution.In corporate news, Amazon-backed (AMZN) Anthropic has chosen Goldman Sachs (GS) and Morgan Stanley (MS) to lead its initial public offering, Bloomberg reported. JPMorgan Chase (JPM) is also working on the deal, the report said. Goldman shares were down 1.8%, Morgan Stanley shed 1.9%, and JPMorgan decreased 0.1%.Hartford Insurance (HIG) has agreed to sell its Hartford Funds unit to Wellington Management in a deal with a net present value of $1.9 billion, the companies said Wednesday. Hartford shares were down 0.7%.Deutsche Bank (DB) may set aside more money for loan losses than analysts expected in Q2, although provisions are expected to be lower than in the previous quarter, Bloomberg reported, citing CFO Raja Akram. Deutsche shares fell 3.3%.

$DB$GS$HIG$JPM$MS
Wire

Market Chatter: Deutsche Bank Sees Q2 Credit-Loss Provisions Slightly Above Consensus

Deutsche Bank (DB) may set aside more money for loan losses than analysts expected in Q2, although provisions are expected to be lower than in the previous quarter, Bloomberg News reported Wednesday, citing Chief Financial Officer Raja Akram.The bank is taking a roughly 100 million euros ($116 million) charge to exit non-performing exposures, but Akram said the resulting improvement in the bank's capital position will more than offset the impact of the charge, the report said.He expects year-over-year growth in the bank's fixed-income, currencies, and financing businesses, as well as projects the bank's common equity Tier ratio to remain in the middle of its 13.5% to 14% target range this year, with levels above 14% likely occurring after 2026, the report said.Deutsche Bank didn't immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $31.27, Change: $-1.05, Percent Change: -3.25%

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Wire

Market Chatter: Deutsche Bank CEO Says Some Employees Terminated Over Epstein Ties

Deutsche Bank (DB) terminated some staff members due to its client relationship with Jeffrey Epstein, Bloomberg reported Thursday, quoting comments by the bank's Chief Executive Christian Sewing at a shareholder meeting in Frankfurt."Where appropriate, we have taken personnel measures, this includes ending our employment relationships with certain individuals," Sewing was quoted as saying.Sewing did not specify which employees were terminated, the report said.Norbert Winkeljohann, a member of Deutsche Bank's supervisory board, told shareholders that there is no indication that the bank's management board members "behaved inappropriately" in the company's business relationship with Epstein, Bloomberg reported.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $33.09, Change: $-0.27, Percent Change: -0.81%

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Wire

Market Chatter: SoftBank-Backed Opay Taps Citi, Deutsche, JPMorgan for US IPO

Opay Digital Services has hired Citigroup (C), Deutsche Bank (DB), and JPMorgan (JPM) as the Nigerian payments platform prepares for an initial public offering in the US, Bloomberg reported Friday, citing people familiar with the matter.The SoftBank-backed company is seeking a valuation of $4 billion in its debut and may sell the shares later this year, the people reportedly said.Citigroup declined to comment to. Deutsche and JPMorgan did not immediately respond, while Opay was unreachable.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $127.59, Change: $-0.39, Percent Change: -0.30%

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Research

Research Alert: CFRA Lowers Opinion On Adss Of Deutsche Bank To Sell From Hold

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our rating to Sell (from Hold) and cut our 12-month target price to USD28 (from USD37). This is based on applying a reduced target P/E multiple of 7.1x (from 9.1x) to our unchanged 2026 EPS forecast. The multiple contraction reflects the invalidation of our previous thesis that the bank had moved beyond its historical risk profile following its Q1 2026 results. A sharp increase in credit provisions challenges the de-risking narrative, a decline in the CET1 capital ratio weakens the capital return story, and faltering performance in core divisions confirms the bank's vulnerability to a deteriorating macroeconomic backdrop. The market's negative reaction underscores a loss of confidence in the quality of the bank's earnings and its ability to navigate mounting headwinds. The risk-reward profile, which we previously saw as balanced, is now clearly skewed to the negative.

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Asia Markets

US Equity Futures Largely Flat Pre-Bell as Traders Await Tech Earnings, Fed Rate Decision

US equity futures were largely flat pre-bell Wednesday as traders anticipated the financial results from four of the "Magnificent Seven" and the Federal Reserve's latest policy announcement.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were down 0.1% and Nasdaq futures were 0.2% higher.Slated to report quarterly earnings after-market today are Alphabet (GOOG, GOOGL), Microsoft (MSFT), Amazon (AMZN), and Meta Platforms (META), among others.The Federal Open Market Committee is widely expected to maintain the target range for its federal funds rate at 3.50% to 3.75% at its meeting today. Federal Reserve Chairman Jerome Powell is due to leave his post before the next committee meeting in June but has said he will remain until his named replacement, Kevin Warsh, is confirmed.The committee's statement following the meeting is due for release at 2 pm ET, with Fed Chair Powell's press conference scheduled to begin at 2:30 pm ET.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.8% at $108.34 per barrel and US West Texas Intermediate crude 4% higher at $103.93 per barrel.Durable goods new orders rose 0.8% in March after a 1.2% decrease in the prior month, compared with expectations for a 0.5% gain in a survey of analysts compiled by Bloomberg.Housing starts rose to an annual rate of 1.502 million in March, exceeding expectations for 1.38 million and above the 1.356 million pace in the prior month.The US advance international trade in goods deficit widened to $87.87 billion in March from $83.49 billion in the previous month, compared with expectations for $88 billion.In other world markets, Japan's Nikkei closed 1% lower, Hong Kong's Hang Seng ended 1.7% higher, and China's Shanghai Composite finished 0.7% higher. Meanwhile, the UK's FTSE 100 was down 1%, and Germany's DAX index was flat in Europe's early afternoon session.In equities, Seagate Technology (STX) shares were up 16% after the company posted fiscal Q3 non-GAAP earnings and revenue that beat analysts' estimates, in addition to issuing a better-than-expected fiscal Q4 outlook. NXP Semiconductors (NXPI) stock was up 21% after the company reported fiscal Q1 non-GAAP earnings and revenue that surpassed analysts' consensus and also setting higher-than-expected fiscal Q2 guidance. Visa (V) shares were up 5.7% after the company posted a fiscal Q2 adjusted earnings and revenue beat.On the losing side, Robinhood Markets (HOOD) shares dropped 12% after the company reported Q1 earnings and revenue that fell short of analysts' consensus. Booking (BKNG) and Deutsche Bank (DB) saw their stock decline 4.8% and 3.1%, respectively, despite posting higher Q1 adjusted earnings and revenue.

Dow JonesNasdaq CompositeS&P 500$AMZN$BKNG$DB$GOOG$GOOGL$HOOD$META$MSFT$NXPI$STX$V

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