See the full story in the original article.
Read the original on Yahoo Finance ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
JPM
• NeutralJPMorgan Chase
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Financials |
| Industry | Diversified Banks |
| Market cap | $891.9B |
| Close on 10/20/2026 | 335.39 |
| Change that session | +0.56% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Capital One's strong quarter and progressing Discover integration are rewarded on Wall Street
Capital One Financial posted better-than-expected third-quarter results, with revenue up 6.4% year over year to $16.34 billion against a $16.27 billion consensus, and adjusted EPS up 12% to $6.69 versus an estimated $5.50. Net interest income rose about 4% quarter over quarter, beating estimates by $134 million, while net discount and interchange fees climbed 3.5% to $2.34 billion, which the article links to the company's ownership of the Discover network. Non-interest expense of $8.86 billion was above the $8.75 billion consensus, though marketing spending of $1.59 billion came in below forecasts. Provisions for credit losses of $2.9 billion were well below the roughly $3.6 billion expected, and a $225 million allowance release boosted earnings. CEO Richard Fairbank said Discover integration has delivered about $1.8 billion of annualized synergies so far and expects lost interchange revenue if the proposed Visa and Mastercard settlement receives final court approval, roughly offsetting the remaining synergies; shares rose about 4% after hours to $210.
- What we want to see when Capital One and Meta report earnings next week
U.S. stocks were mixed on Friday as money kept rotating out of AI names into defensive sectors, and the club's banks Wells Fargo, Bank of New York and Goldman Sachs were all up for the week. Apple shares edged toward a record close as preorders for the iPhone Duo opened; the foldable model starts at $1,999, hits stores October 23, and delivery estimates stretching into early 2027 were seen as a strong demand signal. Capital One reports Tuesday evening, and the key question is how much it keeps investing, since that spending has weighed on profits; the stock is down over 16% year to date. Meta reports after Wednesday's close, and investors will watch capital expenditure plans for its Muse AI agent, after the club trimmed its Meta position last month to protect profits.
- Our top 10 things to watch in the stock market Wednesday
Stock futures were higher, led by the Nasdaq after SpaceX rose 8% following quarterly results that beat expectations, with positive adjusted EBITDA in each segment; special committees have been formed to explore a merger with Tesla. Netflix fell 6% after fourth-quarter revenue guidance missed expectations due to a delayed rollout of advertising features, and Needham downgraded it to hold. Super Micro Computer jumped 12% on a preannounced September-quarter beat, and Dell rose 7%. Capital One gained nearly 4% on strong results, while Abbott Laboratories slipped 4% after cutting its full-year comparable sales growth outlook and Danaher fell 3.5% after missing sales estimates. Micron rose more than 3% after reaching an agreement with a union at its Taichung operations.
- Changes to This $100 Billion Federal Drug Program Could Make Banks the Hidden Beneficiaries
A proposed overhaul of the $100 billion federal 340B drug-discount program would shift some discounts to rebates starting January 1, 2027, so hospitals must pay upfront and wait for reimbursement. In an illustrative example, an extra $10 million balance at 6% annual interest would cost about $50,000 per month, which could increase demand for credit lines from banks that already serve hospitals. The American Hospital Association estimates administrative costs could exceed $1 billion per year, compared with HRSA's $537 million estimate for submitting claims. The article notes the incremental lending demand is unquantified, and the program faces a lawsuit filed on October 9 after an earlier rebate pilot was blocked in December 2025. Banks would benefit only if added interest exceeds funding costs and credit losses.
- State Bank of Vietnam issues new directive on interest rates
The State Bank of Vietnam (SBV) has instructed commercial banks to substantially cut deposit and lending rates across their entire system and all sales channels, following the Governor's directive at an October 19, 2026 meeting. Specifically, banks must reduce average deposit rates on new transactions with tenors of 6 months or longer by at least 0.5% per year in the final months of 2026, compared with their rates in the reporting period of October 11 to October 20, 2026. The SBV will monitor average rates on new transactions through its statistical reporting system. Banks that fail to comply could face strict measures, including a possible reduction or lower assignment of credit growth targets.
- VIB cuts lending rates to support businesses and individual customers
VIB is cutting deposit and lending rates to support businesses and individual customers, in line with directives from the government and the State Bank. It has lowered deposit rates by up to 0.5 percentage points a year, mainly for terms over 6 months, and launched a VND 15,000 billion credit package for priority-sector businesses, with rates up to 1.5% a year lower subject to program conditions. For home loans, VIB offers fixed rates for up to 5 years and an extra 1% per year reduction for loans fixed for 12 or 24 months in certain areas. Car loans carry a fixed rate of 12.5% a year for the first 24 months, then capped at 15% a year, with a total quota of VND 5,000 billion.
Related markets
Latest news
- Trump to throw spotlight on overseas crypto abuses at White House event
President Donald Trump is set to highlight his administration's efforts to pursue overseas crypto criminals at a White House cybercrime event on Wednesday, according to an official. U.S. law enforcement has halted about $833 million in crypto tied to overseas scams, and 503 fraudulent crypto websites have been seized under the Homeland Security Task Force. Authorities have also informed almost 9,000 U.S. citizens that they are being victimized. The transnational criminal organizations behind these scams have stolen tens of billions of dollars from Americans, and the Treasury formed a multi-agency Scam Center Strike Force in November. Meanwhile, Trump's personal crypto ties may have become a political liability as the midterm elections approach in a couple of weeks.
- AI is building out the new Industrial Revolution: Nvidia's Jensen Huang
Nvidia CEO Jensen Huang delivered a keynote at the GTC Berlin event, where he emphasized that AI is helping build the new Industrial Revolution. He noted that AI is becoming increasingly integrated into manufacturing processes.
- Musk's SpaceX-Tesla Merger Would Create a Bitcoin Treasury Behemoth
Elon Musk said the boards of SpaceX and Tesla have formed special committees of independent directors to weigh a merger, while cautioning that a deal is not a certainty. Combined, the two would hold 30,221 BTC, worth roughly $2.5 billion at a Bitcoin price near $83,000, making it one of the largest non-mining corporate Bitcoin treasuries. Tesla reported 11,509 BTC in its latest quarterly filing, while SpaceX disclosed 18,712 BTC in its S-1 ahead of its June IPO, a stash largely invisible to public markets and more than double previous blockchain-tracker estimates. The combined cost basis is around $1 billion, implying an average buy price near $35,000 per coin. A merger would not change Bitcoin itself but would alter governance and accounting, placing the holdings in one public company subject to quarterly disclosures; neither company has signaled plans to buy or sell.
- Musk's SpaceX-Tesla Merger Would Create a Bitcoin Treasury Behemoth
Elon Musk said the boards of SpaceX and Tesla have formed special committees of independent directors to weigh a merger, while cautioning that a deal is not a certainty. Combined, the two would hold 30,221 BTC, worth roughly $2.5 billion at a Bitcoin price near $83,000, making it one of the largest non-mining corporate Bitcoin treasuries. Tesla reported 11,509 BTC in its latest quarterly filing, while SpaceX disclosed 18,712 BTC in its S-1 ahead of its June IPO, a stash largely invisible to public markets and more than double previous blockchain-tracker estimates. The combined cost basis is around $1 billion, implying an average buy price near $35,000 per coin. A merger would not change Bitcoin itself but would alter governance and accounting, placing the holdings in one public company subject to quarterly disclosures; neither company has signaled plans to buy or sell.
- Chainlink, Cardano, other blockchain groups push SEC for clearer crypto rules
Six major blockchain organizations, including Chainlink Labs, Cardano Foundation, Hedera, Aptos Labs, Ava Labs and Stellar Development Foundation, urged the SEC in a joint letter dated Oct. 20 to formally classify digital commodities as non-securities. They argued that interpretive guidance alone leaves legal uncertainty, and that this classification should be written directly into the proposed Regulation Crypto Assets framework. The letter also asks for clarity on how securities laws apply to secondary-market transactions, as well as on staking and other activities tied to decentralized blockchain networks. The SEC's proposal, introduced in August, drew roughly 140 public comments over 60 days, and the consultation closed on Tuesday.
- Government to submit new resolution on wage policy to Central Committee
Deputy Prime Minister Phạm Thị Thanh Trà said during a group discussion on the afternoon of Oct. 21 on laws covering labor, employment and social insurance that the Government is drafting a proposal to report to the Political Bureau. The proposal is expected to go to the Central Committee at its Fifth Plenum to issue a new resolution on wage and social insurance policy, replacing Resolutions No. 27-NQ/TW and No. 28-NQ/TW. According to the Deputy Prime Minister, the current amendment to the Social Insurance Law mainly addresses immediate issues such as expanding coverage, while a more fundamental and comprehensive revision will follow the new resolution. For the Employment Law, the focus is cutting unnecessary licenses and reviewing rules on labor leasing, though simplifying procedures does not mean loosening management. Lawmakers also raised rules on depositing funds in joint-stock commercial banks with state capital, and the Government aims for safety, sustainability and timely payment of benefits.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.