Visa posted quarterly earnings that topped analysts' expectations as its CEO said consumer spending "remains resilient." https://t.co/FIBpDqQ9oC ...

So we have a Fed meeting and then we have a jobs report. Let's start with the Fed meeting. The decision itself, not expecting too many fireworks there.But as always, there's a lot to talk about in that press conference, Julia. Absolutely. There's a lot going on.Of course, Chair Powell will put on his best poker face and reassuring voice and tone, which he's very, very good at, and say that, look, that things are there's a lot of disruption going on so far. You know, you've got a little bit of creeping highe ...

Economic Outlook - Consumer spending, adjusted for inflation, has been flat from December to May, showing a slight negative trend of -0.21% [3] - The American consumer has been a key driver of GDP, accounting for 70% [4] - The flatness in consumer spending could be due to consumers frontloading imports in anticipation of tariffs [4] Fiscal Policy & Debt Management - The Treasury plans to update on how it intends to finance the nation's debt [5] - The current administration criticized the prior administration for timing the issuance of debt in the bond market [6] - The federal debt has significantly increased due to the current budget bill [7] - An increase in the debt-to-GDP ratio by one point tends to add approximately two basis points to the interest rate [8] Impact of AI - There's hope that AI will generate enough productivity growth to offset some of the financial pressures [9][10] - Historically, technological changes have not had the dramatic productivity-enhancing effects that are being claimed for AI [11] - Relying on AI to solve federal budgeting issues is considered reckless [11]

While uncertainty around Donald Trump's trade policy is curbing Canadian businesses investment and consumer spending, firms see the country's economy avoiding the worst recessionary outcomes, central bank surveys show https://t.co/7EvKOsJoyw ...

Fiscal Policy & Debt - The bill is projected to add $4 trillion to the national debt [2] - The bill could lead to deficits reaching 8% of GDP, a level almost unprecedented during peacetime without external shocks [2] - Future reconciliation packages are promised to cut the deficit, but the means to achieve this, especially without raising taxes on the wealthy, are unclear [6][7] Tax Implications & Distribution - The tax breaks in the bill may negatively impact poorer, working-class Americans while benefiting the wealthy [3] - Approximately 60% of the benefits are expected to go to individuals earning over $220,000 [14] - Certain aspects of the bill, such as no tax on tips, the child tax credit, and permanent no tax on overtime, could be supported in isolation [14] Market & Economic Impact - The bond market's reaction to the bill has been surprisingly muted [8] - There is a concern that tariff policy is slowing the economy, which, combined with massive deficit spending, could put pressure on interest rates [10] - Permanent expensing and making tax cuts permanent could be attractive to businesses and spur investment [12][13]

sentiment as as measured by uh the soft data measures has been very poor. People are really bummed out about things. Businesses are, you know, feel really uncertain about the business uh outlook and consumers are talking about how they they feel like it's harder to find a job or that they think they're, you know, jobs are at risk and they think that the economy is tanking.They think inflation is very high, etc. If you survey many people, they'll they'll still tell you that, you know, maybe we're at the lows ...

Joining us now is former Kansas City Fed President Esther George. Uh, welcome, Esther. Before we get to uh the the tariff stuff, I want to ask about this shadow Fed chair concept.So, I if President Trump names his choice for the next Fed chief early, what are the chances that blunts the influence of Chair Powell and the current Fed's ability to influence investor expectations. Yeah, well, good afternoon, John. I think um it it may complicate communications.It may take uh create more confusion uh at some lev ...

Core Viewpoint - Wells Fargo (WFC) and PNC Financial (PNC) are major banking stocks facing challenges and opportunities influenced by interest rate dynamics, loan growth trends, and consumer spending, with both experiencing significant stock declines due to market reactions to new tariff implementations [1][2] Group 1: Strategic Focus - PNC Financial is pursuing an aggressive growth strategy, including the acquisition of Aqueduct Capital Group to enhance fund placement capabilities and a partnership with Plaid for secure financial data sharing [3][4] - Wells Fargo is focusing on strengthening risk management and compliance infrastructure, with optimism surrounding the potential lifting of the asset cap imposed after the fake account scandal [5][6] Group 2: Branch Strategies - PNC is expanding its branch network with a $1.5 billion investment to open over 200 new branches in high-growth U.S. cities, aiming to significantly boost its scale and presence [8] - Wells Fargo is optimizing its existing branch locations, having upgraded 730 branches in 2024 and planning to enhance all branches over the next five years, focusing on technology and customer experience [9] Group 3: Capital Distribution - Both companies have strong capital distribution programs, with PNC increasing its quarterly dividend by 3.2% to $1.60 per share and Wells Fargo raising its dividend by 14% to $0.40 per share [12] - PNC has a share repurchase program with authority to repurchase up to 40.5 million shares, while Wells Fargo has a $30 billion repurchase program with authority for $3.8 billion [14] Group 4: Performance and Valuation - In the past three months, Wells Fargo shares declined by 2.7%, while PNC shares fell by 4.9%, against an industry increase of 1.6% [18] - Wells Fargo's trailing P/E ratio is 12.30X, while PNC's is 11.19X, indicating PNC is less expensive compared to Wells Fargo [21] Group 5: Earnings Estimates - The Zacks Consensus Estimate for Wells Fargo's 2025 sales and EPS indicates increases of 1.5% and 5.6%, respectively, while PNC's estimates show increases of 5.7% and 8.9% [24][27] - PNC's EPS estimates for 2025 and 2026 have been revised upward, contrasting with Wells Fargo's lower EPS estimates for 2025 [24][28] Group 6: Analyst Sentiment - PNC is viewed as better positioned for long-term opportunities due to superior earnings growth projections, aggressive branch expansion, and a stronger dividend yield [29]