Investment banks start earnings season with robust profits
January 21, 2025
The US banking sector closed 2024 with strong results as JPMorgan Chase, Wells Fargo, Citigroup and Goldman Sachs reported quarterly results beating Wall Street expectations. These reflect last year's market recovery after previous declines. Optimism persists in expectations for future periods, although some risks remain.
After the Bank of Japan (BoJ) ended an eight-year period of negative interest rates last year, it implemented its third rate hike this month. The Japanese yen (JPY) strengthened against other major currencies, driven largely by the rhetoric of the new U.S. president regarding the Federal Reserve's monetary policy and tariffs.
Netflix proves once again that it is the leader among streaming platforms as it closes out 2024 with robust results. With a record number of new subscribers, it reached a milestone that hasn't been surpassed since the start of the pandemic, which also led to all-time highs for its stock.* But the company isn't standing still. Through exclusive content, live sports broadcasts and ambitious targets, it is showing that it is forging a path into the future with determination.
The U.S. banking sector closed 2024 with strong results, as JPMorgan Chase, Wells Fargo, Citigroup, and Goldman Sachs reported quarterly earnings that exceeded Wall Street expectations. These results reflect last year's market recovery after previous declines. Future prospects are surrounded by optimism, although some risks remain.
Mercedes-Benz is making a significant step in enhancing its in-car technologies by expanding its collaboration with Google Cloud. This strategic alliance focuses on integrating Google’s state-of-the-art technologies and artificial intelligence (AI) capabilities into Mercedes vehicles. Despite facing challenges in the market, including declining sales and stricter emission regulations, the automaker remains committed to innovation.
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