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WFC

Wells Fargo shares are trading higher by 1.65% following a softer-than-expected CPI report, indicating slowing inflation in May. The bank's CFO, Mike Santomassimo, also stated that they anticipate an increase in net interest income in the future.

Portfolio Pulse from Henry Khederian

June 13, 2023 | 6:55 pm

LCID

Lucid Group Inc (NASDAQ:LCID) shares are trading higher by 4.15% to $6.53 as stocks rise following a softer-than-expected CPI report, which showed slowing inflation in May. Lower interest rates can stimulate borrowing and make auto loans more affordable, potentially driving up car sales.

Portfolio Pulse from Henry Khederian

June 13, 2023 | 6:36 pm

GM

General Motors (GM) shares are trading higher by 1.81% to $37.34 following a softer-than-expected CPI report, which showed slowing inflation in May. Lower interest rates can stimulate borrowing and make auto loans more affordable, potentially driving up car sales.

Portfolio Pulse from Henry Khederian

June 13, 2023 | 3:53 pm

USB

A U.S. Bancorp executive stated that the company is reducing cash balances now that the debt ceiling issue has been resolved temporarily.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 2:26 pm

USB

U.S. Bancorp executive reports a decline in loan demand compared to last year and projects another interest rate increase in the summer. The net interest margin for the quarter is expected to be lower than projected.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 2:26 pm

WFC

Wells Fargo's CFO spoke at the Morgan Stanley US Financials, Payments & CRE Conference, stating that the bank is likely to see some losses in its commercial real estate portfolio.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 12:28 pm

FXI

China's central bank has cut the 7-day rate by 10 basis points to 2.9% and the 1-month rate by 10 basis points to 3.25%, effective from June 13.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 12:20 pm

BCS

SPY

Barclays CEO reports a slight increase in U.S. delinquencies on the margins, potentially indicating a rise in credit risk.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 6:59 pm

GS

Goldman Sachs CEO David Solomon said the US economy has been resilient but remains uncertain. He believes there's a chance of a recession by the end of 2023 or in the first half of 2024. Solomon also mentioned that rates could climb as inflation persists.

Portfolio Pulse from Adam Eckert

June 12, 2023 | 4:15 pm