Business
ASX to rise, Dow lifts on industrials – The Australian Financial Review
Australian shares are set to edge higher at the open amid gains on Wall Street, paced by industrials and energy.
JPMorgan, the largest US lender, rose after it posted a smaller-than-expected 51% drop in second-quarter profit.
Wells Fargo tumbled after booking a quarterly loss for the first time since the 2008 financial crisis. Citigroup dropped 3.6% as it reported a steep fall in quarterly profit.
The S&P 500 banks index dropped as the three banks set aside a combined $US28 billion to cover potential losses on loans to borrowers hurt by the coronavirus pandemic.
“Earnings announcement will likely be…
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