Goldman Sachs Group Inc reported a bigger-than-expected fall in quarterly profit on Wednesday as the Wall Street bank set aside more money to cover legal costs for the 1MDB corruption scandal, overshadowing a rebound in its trading business.
Chinese Vice Premier Liu He said Beijing and Washington will work together following the signing of the Phase 1 trade deal to obtain tangible results, China's official Xinhua news agency reported on Wednesday.
U.S. producer prices edged up in December as a rise in the cost of goods was offset by weakness in services, the latest indication of tame inflation pressures that could allow the Federal Reserve to keep interest rates unchanged this year.
China will significantly increase imports of U.S. soybeans after the Phase 1 trade deal is signed, the Global Times reported on Wednesday, citing comments from a senior Chinese economist at a state think tank.
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Oil prices on Wednesday extended losses, falling to their lowest in over a month, after a U.S. report showed that crude production rose to a new record, overshadowing a bigger-than-expected draw in crude inventories.
The S&P 500 and the Dow Jones indexes set new record highs on Wednesday on a positive tone around trade talks with China from Trump administration officials ahead of the signing of an initial deal later in the day.
General Motors Co. said on Wednesday more than 1,350 hourly employees at its assembly plants in the United States will transition into full-time roles in the first quarter of 2020.
U.S. tariffs will remain on Chinese imports while the Trump administration sees how enforcement plays out under the Phase 1 trade deal with Beijing, White House economic adviser Larry Kudlow said on Wednesday.
U.S. President Donald Trump and Chinese Vice Premier Liu He will sign an initial trade deal on Wednesday that will roll back some tariffs and see China boost purchases of U.S. goods and services, defusing an 18-month conflict between the world's two largest economies.
BlackRock Inc , the world's largest asset manager, beat analysts' estimates for quarterly profit on Wednesday, helped by strong flows into its exchange-traded fund business that boosted overall assets under management to a record $7.43 trillion.
Even as the stock market enjoyed a sharp rally recently, many of BlackRock's clients were under-invested in equities and remained heavily oriented towards fixed-income securities, BlackRock Inc Chief Executive Larry Fink said on Wednesday.
Bank of America Corp got stung by lower interest rates in the fourth quarter, sending its profit down 4%, a trend that management expects to continue this year.
Citigroup's female employees earn 27% less than male employees on a global median basis, the Wall Street bank said on Wednesday.
Target Corp fell short of its own expectations for holiday season sales on Wednesday, reporting a drop off in online growth and demand for toys and electronics that sent a shiver through the wider U.S. retail sector.