BREAKING NEWS Core prices come in cooler than expected as inflationary pressures ease slightly Euronext - Delayed Quote • EUR (4Z56S.NX) Follow Compare 7.18 +0.74 +(11.49%) As of December 6 at 6:30:00 PM GMT+1. Market Open. Related News Rigetti Computing CEO after a 48% spike in its stock price: We have to tamp down expectations Rigetti Computing CEO takes investors inside one of the hottest stocks in the markets right now. The optimism over US banks is about to be put to the test Investors ended 2024 brimming with optimism about US banks. What happens during the start of earnings season this week will put that optimism to a new test in 2025. SEC’s Gensler not backing down from crypto crackdown as he exits: 'I feel very good about what we’ve done' Securities and Exchange Commission chair Gary Gensler is not backing down from his views about the cryptocurrency industry as he prepares to walk out the door, saying "many in the crypto field are not complying with our time-tested laws." Eli Lilly stock tumbles after new forecasts show weight-loss drug sales grow slower than expected Eli Lilly stock is down after issuing Q4 2024 guidance that missed Wall Street estimates. This earnings season will show the 'haves' and the 'have-nots' With Big Bank earnings around the corner, Rational Dynamic Brands Fund portfolio manager Eric Clark joins Morning Brief with Seana Smith and Brad Smith to discuss his expectations for earnings season. "I think the banks will be fine. Goldman [Sachs] (GS) should probably paint a pretty good picture," Clark says, noting, "We're more focused on the asset managers. There's a big trend in wealth management with money migrating from public equities and public fixed income over to privates." "Those asset managers have had pretty decent pullbacks here, making some pretty attractive entry points as we head into earnings," he adds. Blackstone (BX) is the first asset manager to report on January 30. The portfolio manager says this earnings season will be put the "haves and the have-nots" categories on display, adding, "I think it's going to be a bifurcated market with earnings because expectations are a little high going into the year." Editor's note: Clark mentions Apollo Global Management, which is the majority owner of Yahoo, Yahoo Finance's parent company. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Naomi Buchanan. JPMorgan COO Pinto to resign, bank reshuffles top execs JPMorgan (JPM) has announced new leadership changes as president and chief operating officer (COO) Daniel Pinto plans to step down at the end of 2025. Co-CEO of the commercial and investment bank Jennifer Piepszak will assume the COO role effective immediately, while current co-head of global banking Doug Petno will succeed Piepszak. Morning Brief anchors Seana Smith and Brad Smith examine the leadership transition and its implications for CEO Jamie Dimon's eventual succession plan. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Angel Smith Inflation Rises Again, Hitting 2.9% in December U.S. inflation picked up last month as gas prices rose sharply, though price gains for other goods were more muted. Core CPI Inflation Eases; S&P 500 Futures Jump, Fed Rate-Cut Hopes Rise (Live Coverage) Consumer price index data for December showed that core price pressures eased more than expected. S&P 500 futures rose as Wall Street weighed the CPI's implications for Federal Reserve policy as well as positive earnings reports from Dow Jones giants JPMorgan Chase and Goldman Sachs. Stubbornly high inflation presents a problem for the Federal Reserve and the S&P 500 as President-elect Donald Trump is set to take office, because his policies are seen as likely to contribute to higher prices this year. Option Trade Could Return More Than $1,300 On A Wobbly Eli Lilly Eli Lilly has been struggling since mid-August and is down 20% in the last three months. If Eli Lilly continues to move lower, a bear put spread would be the best way to trade it. A bear put spread is a debit spread. Apollo Promotes Two Potential Successors to CEO Marc Rowan Apollo Global Management is promoting two top executives, taking a step toward solidifying a succession plan for Chief Executive Marc Rowan. James Zelter, 62 years old and co-president of Apollo’s asset management arm, will become president of the holding company that also includes insurance company Athene, the firm said Wednesday. John Zito, the firm’s 43-year-old head of credit, will take Zelter’s place as co-president of the asset management arm alongside Scott Kleinman. Quantum Computing, Inc. Announces Collaboration with Sanders Tri-Institutional Therapeutics Discovery Institute To Support Research Using Dirac-3 Systems Quantum Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT), an innovative, integrated photonics and quantum optics technology company, today announced a collaboration with Sanders Tri-Institutional Therapeutics Discovery Institute, Inc. (Sanders TDI) to drive advancement of research in computational biomedicine. Through this collaboration, QCi will provide Sanders TDI with access to its quantum computation technology and hardware, specifically with its Dirac-3 Entropy Quantum Computing Machi Citigroup beats Q4 profit, revenue, announces $20 bln share buyback Investing.com -- Citigroup on Wednesday reported stronger-than-expected fourth-quarter profit and revenue, while authorizing a $20 billion share buyback program, sending its shares by more than 2% before the bell. Wells Fargo Takes $647 Million Severance Charge as Costs Cut (Bloomberg) -- Wells Fargo & Co. took a $647 million severance charge in the fourth quarter, as Chief Executive Officer Charlie Scharf continues to whittle headcount as part of broader efforts to slash costs and remake the bank. Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsA Blueprint for Better Bike LanesNon-interest expenses came in at $13.9 billion for the last three months of 2024, down 12% from a year JPMorgan Chase Q4 Earnings: Investment Banking Revenue Jumps 46%, CEO Jamie Dimon Says 'Inflation May Persist For Some Time' JPMorgan Chase & Co. (NYSE:JPM) shares are trading nearly flat premarket after it reported fourth-quarter FY24 results. Reported revenue rose 11% year-on-year to $42.8 billion. Net revenue (managed) was $43.7 billion (+10% Y/Y), beating the consensus of $41.707 billion. Consumer & Community Banking (CCB) revenue rose 1% Y/Y to $18.362 billion, and Commercial & Investment Bank revenue was $17.598 billion (+18% Y/Y) in the quarter. Investment Banking revenue was $2.6 billion, up 46% Y/Y, in the qu Has Eli Lilly Stock Peaked? Eli Lilly (NYSE: LLY) is the most valuable healthcare stock in the world, with a market capitalization of around $720 billion. For a while, it looked like it might be on track to be the first healthcare company to top a $1 trillion valuation, perhaps as early as this year. Fears of heightened oversight in the industry could weigh on not just Eli Lilly, but healthcare stocks as a whole. Citigroup Stock Jumps as Earnings Top Wall Street Forecasts Shares rose 3.6% in premarket trading. Citi, one of the nation’s largest banks, has been pursuing a turnaround strategy under CEO Jane Fraser, who has sold off some business and reorganized the company around five core business units. “We intend to improve returns well above that level and deliver Citi's full potential for our shareholders.” Goldman Sachs Q4 Earnings: Underwriting Boosts Revenue, Assets Reach Record $3.14 Trillion On Wednesday, Goldman Sachs Group Inc. (NYSE:GS) shares traded higher after the company reported its fourth-quarter and full-year 2024 financial results. Goldman Sachs reported fourth-quarter revenue of $13.87 billion, beating the consensus of $12.39 billion. Revenue increased by 23% year-over-year, reflecting growth across all segments, with significant growth in Global Banking & Markets. Full-year revenue was $53.51 billion, up 16% YoY, beating the consensus of $51.98 billion. Net interest inc Hess Midstream signs accretive $100M sponsor unit repurchase Hess Midstream a(HESM) nnounced the execution of a definitive agreement providing for the repurchase of approximately $100M of Class B units by its subsidiary, Hess Midstream Operations from affiliates of Hess and Global Infrastructure Partners, a part of BlackRock (BLK), Hess Midstream’s sponsors . The terms of the proposed unit repurchase transaction were unanimously approved by the Board of Directors of Hess Midstream’s general partner, based on the unanimous approval and recommendation of it These Stocks Are Moving the Most Today: JPMorgan, Wells Fargo, Goldman, Citigroup, BlackRock, D-Wave Quantum, and More Fourth-quarter earnings from JPMorgan Chase, Wells Fargo, Goldman Sachs, and Citigroup beat analysts’ estimates. Citigroup: Q4 Earnings Snapshot NEW YORK (AP) — Citigroup Inc. C) on Wednesday reported fourth-quarter net income of $2.86 billion, after reporting a loss in the same period a year earlier. The company, based in New York, said it had earnings of $1.34 per share.