While you were sleeping: Banks drop on revenue updates

Wed, 31 May 2017

By Margreet Dietz June 1 (BusinessDesk) - Wall Street weakened as bank stocks fell following disappointing revenue updates from JPMorgan Chase and Bank of America. Executives of the two biggest US banks said second-quarter trading revenue was set to drop at least 10 percent, according to media reports. In 2.45pm trading in New York, the Dow Jones Industrial Average declined 0.15 percent, while the Nasdaq Composite Index slid 0.3 percent. In 2.30pm trading, the Standard & Poor’s 500 Index advanced shed 0.21 percent. The Dow weakened...

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