News Highlights: Top Financial Services News of the Day
February Was a Wild Month for Stocks. These Investors Hung On
Individual stock investors jolted by February's market tumult said fear of missing out on the next leg of the bull market still outweighs fear of a big correction.
Bank of Japan Cuts Bond Purchases Again but Doesn't Roil Markets
Markets appear to be getting the Bank of Japan's message on day-to-day bond buying, and the central bank seems to be getting the message from markets. Japan's central bank trimmed back its buying of super-long Japanese government debt Wednesday, but, unlike in early January, markets didn't swoon at its potential deeper meaning.
India's Currency Falters-and So Does Investors' Enthusiasm
Investor sentiment on emerging markets can fizzle fast: Just look at India. The rupee this month dropped 2.2% against the dollar, making it one of Asia's worst-performing currencies so far in 2018.
Man Returns to Profit
Man Group returned to profit in 2017 and had record net inflows to its funds under management.
Dina Powell, a Former Trump Adviser, Returns to Goldman Sachs
Dina Powell, who until recently served as a deputy national security adviser in the Trump White House, is returning to Goldman Sachs Group Inc.
Fidelity Posts Improved Profit
Fidelity Investments posted record revenue and profit last year as assets hit new highs and investment performance improved. In 2017 Boston-based Fidelity reported $18.2 billion in revenue, up 13.7% from the prior year.
JPMorgan Says Tax Changes Will Lead to More Profitability
JPMorgan Chase says it is optimistic about 2018 and the impact the new U.S. tax law will have on its financial outlook, moving a key profitability metric to roughly 17% compared with its prior target of 15%.
Goldman Sachs, Adviser to the Elite, Wants to Be Your Local Bank
The Wall Street powerhouse is hunting for growth in businesses it once dismissed as pedestrian, such as car loans, insurance and wealth management for the masses. One reason: Trading revenue has stalled.
Powell Backs Raising Threshold for 'Systemically Important' Banks
Federal Reserve Chairman Jerome Powell voiced support for a provision in a bipartisan Senate bill to raise the threshold at which banks are subject to tighter oversight.
Fed's Powell Says His Economic Outlook Has Improved
Federal Reserve Chairman Jerome Powell said the economy's prospects have brightened, indicating the central bank is on track to keep gradually lifting interest rates and perhaps even pick up the pace this year.
(END) Dow Jones Newswires
February 28, 2018 07:15 ET (12:15 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.