PNC's surprise 18% dividend hike looks like pure upside for retirees on Social Security, but the bigger payout quietly sets off a chain reaction through federal tax rules that can cost far more than most investors expect.
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(Bloomberg) -- Meredith Whitney, the former bank analyst who rose to fame for a 2007 report ahead of the global financial crisis, warned that a US “reckoning” is coming in the fourth quarter as one-time economic boosts from the World Cup and residual fiscal spending fade.Most Read from BloombergChip Rout Deepens on Circular Funding, China Competition FearsNvidia’s $750 Billion in Deals Reignite Circular AI FearsCitadel Securities Sees Warsh Delivering Surprise Fed HikeApple Set to Make Big Smart
Today Earnings: Johnson & Johnson, Morgan Stanley, BlackRock, PNC Financial Services, Conagra, Cintas, United Airlines, Bank of New York Mellon, Elevance Health, J.B. Hunt, ASML Economic data: Producer-price index data for June, Empire State manufacturing survey, EIA weekly petroleum status report, Fed beige book.
Investors are gearing up today for the start of a busy bank earnings season. They’ll also be closely watching the latest inflation data and appearances on Capitol Hill over two days by new Federal Reserve Chairman Kevin Warsh.
Wall Street's biggest banks reportedly held preliminary talks to acquire a Fiserv network that could help them bypass federal debit-card fee caps.
The Federal Reserve said the nation’s largest banks could absorb $708 billion in losses and keep lending, though this year’s stress-test results won’t affect capital requirements.
The Virtus InfraCap U.S. Preferred Stock ETF (NYSEARCA:PFFA) sits at $21.62 heading into the back half of 2026, paying a 9.5% yield that has drawn income investors looking for something between bond coupons and common stock dividends. PFFA raised its monthly payout to $0.1725 per share for 2026, up from $0.17 in 2025, extending a ... The Fed’s 2026 Cutting Path Will Make or Break PFFA’s 9.5% Yield