Latest Wells Fargo & Co News

It's a bittersweet Easter for chocolate lovers and African cocoa farmers but big brands see profits

Mar. 28, 2024 12:25 PM EDT

ACCRA, Ghana (AP) — Shoppers may get a bitter surprise in their Easter baskets this year. Chocolate eggs and bunnies are more expensive than ever as changing climate patterns eat into global cocoa supplies and the earnings of farmers in West Africa. About three-quarters of the...

Wall Street’s Magnificent 7 shrinks to a Fab 4

Mar. 07, 2024 08:03 AM EST

NEW YORK (AP) — The small group of stocks that’s been driving Wall Street to records is getting even smaller. Last year just a handful of companies were responsible for most of the U.S. stock market’s total return. It’s an exclusive enough club that they’ve come to be known...

Stock market today: Asian shares are mixed after Wall Street slips lower and bitcoin bounces higher

Feb. 28, 2024 22:22 PM EST

BANGKOK (AP) — Shares were mixed in Asia on Thursday after a lackluster day on Wall Street, where selling of technology stocks pulled benchmarks lower. U.S. futures were flat and oil prices fell. Tokyo's Nikkei 225 index fell 0.7% to 38,953.49 after data showed...

US eases restrictions on Wells Fargo after years of strict oversight following scandal

Feb. 15, 2024 20:35 PM EST

NEW YORK (AP) — The Biden administration eased some of the restrictions on banking giant Wells Fargo, saying the bank has sufficiently fixed its toxic culture after years of scandals. The news sent Wells Fargo's stock up sharply Thursday as investors speculated that the bank,...

How major US stock indexes fared Thursday, 2/15/2024

Feb. 15, 2024 16:48 PM EST

Stocks returned to record heights following some mixed reports on the economy. The S&P 500 rose 0.6% Thursday, surpassing the all-time high it set last week. The Dow Jones Industrial Average rose 0.9%, and the Nasdaq composite added 0.3%. Treasury yields eased in...

Bucking industry trends, Chase to open 500 new locations largely in cities where rivals dominate

Feb. 06, 2024 11:50 AM EST

NEW YORK (AP) — JPMorgan Chase plans to open at least 500 new branches in the next three years, the bank said Tuesday. It will reverse a decade-long industry trend where banks like JPMorgan and Bank of America have closed branches as fewer Americans need to cash a paycheck or pull money out of an...

Not all bitcoin ETFs are the same. Here are some questions to consider before buying any

Jan. 25, 2024 08:02 AM EST

NEW YORK (AP) — Now that bitcoin funds are trading, which is the best to own? The answer is not necessarily the one that rises the most. The job of these funds is to track the price of bitcoin, whatever that is, in what can be a more convenient thing to own for many investors. ...

Job gains and free-spending shoppers lifted Wall Street in 2023, but new data tells another story

Jan. 18, 2024 08:03 AM EST

NEW YORK (AP) — Job gains and raises helped power solid economic growth in the U.S. last year, but what if those gains were a mirage? Gross domestic product jumped 4.9% during the third quarter on an annualized basis and economists expect an initial reading of 1% growth during the...

Wells Fargo: Q4 Earnings Snapshot

Jan. 12, 2024 07:17 AM EST

SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Wells Fargo & Co. (WFC) on Friday reported fourth-quarter net income of $3.45 billion. The San Francisco-based bank said it had earnings of 86 cents per share. Earnings, adjusted for one-time gains and costs, were $1.29 per share. ...

This Week in Business: Consumer prices, wholesale prices, big bank earnings

Jan. 08, 2024 03:11 AM EST

Eye on prices The Labor Department on Thursday issues its December report on prices at the consumer level. Economists expect that inflation edged up to 3.2% as measured by the consumer price index. Overall, inflation has been steadily cooling since the Federal Reserve...