BREAKING NEWS OHA: Benton County woman dies; new cases in Linn, Lane, Douglas, Coos Full Story

Bankers' optimism; Trump vs. the Fed; Heineken loves summer

1. European banks: The chief executives of Barclays and Deutsche Bank struck optimistic not...

Posted: Oct 24, 2018 9:52 AM
Updated: Oct 24, 2018 9:52 AM

1. European banks: The chief executives of Barclays and Deutsche Bank struck optimistic notes in earnings reports released Wednesday.

But the results produced mixed reactions from investors.

Banking, finance and investments

Barclays PLC

Business, economy and trade

Companies

Company activities and management

Company earnings

Donald Trump

Economic indicators

Economy and economic indicators

Financial markets and investing

Financial performance and reports

Financial results

Government and public administration

Government organizations - US

International trade

Political Figures - US

Political organizations

Political platforms and issues

Politics

Public finance

Securities trading

Stock indexes

Stock markets

Tax cuts

Taxes and taxation

Trade and development

US Congress

US political parties

US Republican Party

Continents and regions

Economic policy

North America

The Americas

Trade regulation and policy

Trade wars

United States

Sales and selling

Sales figures

European Union

Eurozone

Government organizations - Intl

Monetary unions

Seasons of the year

Summer (season)

Christian Sewing, who has sought to overhaul Deutsche Bank since being appointed CEO in April, said the lender is "well on track to achieve our first profitable year since 2014."

Germany's biggest bank has slashed jobs and costs, but revenue growth has not yet materialized. Shares in Deutsche Bank (DB) dropped 4.2% on Wednesday, bringing losses for 2018 to nearly 43%.

It was a different story at Barclays, where CEO Jes Staley touted a strong performance by the lender's corporate and investment bank.

"2018 is proving to be a year of delivery on our strategy at Barclays," Staley said in a statement. While shares in Barclays (BCS) gained 1%, the stock is still down over 17% this year.

2. More pressure on the Fed: For the third week in a row, President Donald Trump has criticized Jerome Powell, the man he picked to lead the Federal Reserve.

In an interview Tuesday with The Wall Street Journal, Trump said that Powell raises interest rates "every time we do something great."

The Fed chair "almost looks like he's happy raising interest rates," the president said. He also told the newspaper that it was "too early to tell, but maybe" he regretted nominating Powell to the position.

3. Euro under pressure: The euro dropped 0.5% against the US dollar after data signaled trouble for the eurozone economy.

A new purchasing managers' survey from IHS Markit indicated that the eurozone economy grew at its slowest rate in over two years in October because of a sharp slowdown in exports.

Investors are also worried about the rising political tensions in Europe. On Tuesday, the European Commission rejected Italy's draft budget in a showdown over proposed spending increases.

4. Heineken on track: Heineken (HEINY) said that its global beer sales grew in the third quarter, keeping the brewer on track to hit annual sales targets.

Second only to AB InBev (BUD) in terms of size, Heineken said that unusually hot weather in Europe boosted overall sales even though volume growth in Africa and Asia slowed.

Shares in Heineken dropped 1%.

5. Global market overview: US stock futures were pointing lower.

European markets opened mostly higher, while stocks in Asian struggled to find direction.

The Dow Jones industrial average closed down 0.5% on Tuesday, while the S&P 500 shed 0.6% and the Nasdaq lost 0.4%.

6. Companies and economics: AT&T (T), Boeing (BA), Brinks (BCO), Hilton (HLT), NASDAQ (NDAQ), Restaurant Brands International (QSR), Sirius XM Radio (SIRI), Travelzoo (TZOO), Trivago (TRVG), Tupperware (TUP) and UPS (UPS) will release earnings before the open.

Aflac (AFL), Dolby Labs (DLB), Equifax (EFX), Ethan Allen (ETH), Ford Motor (F), Las Vegas Sands (LVS), Microsoft (MSFT), Sleep Number (SNBR), Tesla (TSLA), Visa (V) and Whirlpool (WHR) will follow after the close.

Ford (F) has appointed Anning Chen, the former CEO of a state-owned Chinese automaker, to turn around its operations in China.

The US Census Bureau will release a report on new home sales for September at 10 a.m. ET.

7. Coming this week:
Wednesday — Aflac (AFL), Allegiant Travel (ALGT), AT&T (T), Baidu (BIDU), Boeing (BA), Callaway Golf (ELY), Visa (V), Ford (F), Microsoft (MSFT), SiriusXM (SIRI), Whirlpool (WHR), earnings
Thursday — Alphabet (GOOGL), Amazon (AMZN), Altria (MO), Ally Financial (ALLY), American Airlines (AAL), Alaska Air Group (ALK), Southwest (LUV), AK Steel (AKS), Dunkin' Brands (DNKN), Boyd Gaming (BYD), Stanley Black & Decker (SWK), Sherwin-Williams (SHW), Merck & Co. (MRK), Hershey (HSY), GrubHub (GRUB), Snap Inc. (SNAP) earnings
Friday — Colgate-Palmovie (C) and Charter Communications (CHTR) earnings

Oregon Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 10605

Reported Deaths: 220
CountyConfirmedDeaths
Multnomah258070
Marion168350
Washington164520
Clackamas87725
Umatilla7926
Union3611
Lincoln3464
Lane2433
Malheur2231
Deschutes2210
Polk16612
Linn15710
Yamhill1559
Jackson1520
Jefferson1360
Klamath1311
Morrow1091
Benton975
Hood River970
Wasco961
Josephine591
Clatsop540
Douglas540
Coos460
Columbia440
Lake220
Tillamook150
Crook140
Wallowa110
Curry80
Baker50
Sherman30
Gilliam10
Grant10
Harney10
Unassigned00
Wheeler00
Eugene
Few Clouds
60° wxIcon
Hi: 77° Lo: 54°
Feels Like: 60°
Corvallis
Clear
62° wxIcon
Hi: 76° Lo: 53°
Feels Like: 62°
Roseburg
Clear
65° wxIcon
Hi: 80° Lo: 56°
Feels Like: 65°
North Bend
Few Clouds
57° wxIcon
Hi: 68° Lo: 55°
Feels Like: 57°
KEZI Radar
KEZI Temperatures
KEZI Planner

LATEST FORECAST

Community Events