Federal National Mortgage Association : * FANNIE MAE (FNMA) - ECONOMIC GROWTH EXPECTED TO ACCELERATE AS VACCINE DEPLOYMENT QUICKENS AND WARMER WEATHER APPROACHES. * FANNIE MAE (FNMA) - U.S. ECONOMY IS EXPECTED TO GROW 5.3 PERCENT IN 2021 Source text for Eikon: Further company coverage:
WASHINGTON, Jan. 15, 2021 The U.S. economy is expected to grow 5.3 percent in 2021, a substantial improvement from the currently projected 2.7 percent contraction in 2020, with a strong pick-up in growth projected to commence over the spring months, according to the latest commentary from the Fannie Mae Economic and Strategic Research Group.
Citigroup Inc (C) reported a 7% decline in fourth-quarter profit on Friday but easily beat Wall Street expectations, as an improving economic outlook allowed it to release cash it had previously set aside for bad loans. The New York-based bank earned $4.63 billion, or $2.08 a share, down from $5 billion, or $2.15 a share, a year earlier.
JPMorgan Chase & Co (JPM) reported a better-than-expected quarterly profit on Friday as it released some of the cash it had built up against coronavirus-driven loan losses, although the bank cautioned that demand for loans was likely to remain sluggish this year.
- JPMorgan Chase & Co (JPM) reported a better-than-expected quarterly profit on Friday as it released some of the cash it had built up against coronavirus-driven loan losses, although the bank cautioned that demand for loans was likely to remain sluggish this year.
- Wall Street's main indexes fell on Friday as incoming President Joe Biden's $1.9 trillion stimulus plan sparked fears of an increase in taxes, while investors parsed quarterly reports from major U.S. lenders.
China's current interest rate levels are appropriate, Sun Guofeng, the head of the central bank's monetary policy department, told a news conference on Friday. The bank would use various policy tools to ensure liquidity was reasonably ample, Sun added.
According to Freddie Macs Quarterly Forecast, the current low mortgage interest rate environment is projected to continue with the 30-year fixed-rate mortgage averaging below three percent through the end of 2021. Despite the uncertainties of the pandemic, the housing market performed well in the second half of 2020, said Sam Khater, Freddie Macs Chief Economist.
Shares of Poshmark Inc soared more than 140% in their stock market debut on Thursday, valuing the online fashion marketplace over $7 billion, highlighting investor optimism for online shopping that has surged during the COVID-19 pandemic. Shares opened at $97.5 on the Nasdaq and finished the first day trading at $101.5, well above the initial public offering price of $42 apiece.
GREENVILLE, S.C., Jan. 14, 2021 Duke Energy (DUK) announced today it has deposited $5 million into Optus Bank, a Black-owned bank based in South Carolina, furthering the company's support for diverse and minority-owned businesses, individuals and low income communities.
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