Rates Are Rising, But Banks Aren’t Worried About Consumers

The good times keep rolling for the biggest U.S. banks, with consumers easily absorbing higher borrowing costs and the economy shrugging off trade spats, political strife and market swoons. JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. posted double-digit profit increases in the third-quarter, largely because of a pickup in income from…

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S&P 500, Dow up as rising treasury yields boost banks

NEW YORK: The S&P 500 and the Dow Jones industrial average rose on Wednesday, with the Dow hitting its highest closing level since late January as rising Treasury yields boosted the financial sector and trade worries subsided. The tech-heavy Nasdaq ended the session slightly lower. Advertisement Financial companies rose 1.8 percent, the biggest percentage gainer…

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Rising US Consumer Prices Are Eroding Wage Gains

A humming U.S. economy is pushing inflation up to levels that the central bank considers healthy. But there’s a downside: Americans’ paychecks are barely keeping up. Consumer prices rose 2.9% over the past year, a rate last exceeded in late 2011, the Labor Department said Friday. Core prices—those outside of volatile food and energy-related expenses—climbed…

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