U.S. stocks end dismal, volatile year on bright note
Wall Street closed out a turbulent year for stocks on a bright note Monday, but still finished 2018 with the worst showing in a decade.
Banking & Finance
Articles
Wall Street faces annual losses despite solid gains for week
Wall Street capped a week of volatile trading Friday with an uneven finish and the market's first weekly gain since November.
Wells Fargo pays $575 million to settle state investigations
The settlement includes $5.2 million for Indiana, according to state Attorney General Curtis Hill.
‘Completely bizarre’ stock moves leave traders scratching heads
The S&P 500 index posted its biggest single-session upward reversal since 2010 on Thursday, a day after the gauge capped its largest single-day advance since 2009.
Giant one-day stock rally met with hope, skepticism
One thing’s for sure, for investors who had been almost completely starved of good news all month, Wednesday brought it coursing back in a flurry.
U.S. stocks rebound for record-setting day after dismal Christmas Eve
U.S. stocks surged Wednesday, recovering all their losses from a Christmas Eve plunge. The Dow Jones industrial average and S&P 500 both set single-day records.
J.P. Morgan takes three former advisers who joined competitor to court
J.P. Morgan has won a preliminary injunction against three former employees in its Carmel office, who are accused of taking at least 20 clients with millions of dollars in assets to a competing firm.
Trump rips Fed as economy’s ‘only’ problem; doesn’t mention Powell
President Donald Trump renewed his attacks on the Federal Reserve, commenting publicly on the central bank for the first time following last week’s interest-rate hike and reports he has discussed firing Chairman Jerome Powell.
Carmel, PNC Bank reach agreement on land sale for mixed-use project
Carmel filed a lawsuit in August to take control of PNC’s North Range Line Road property, but the bank agreed in an out-of-court deal to sell the land for $2.5 million.
Investors thrashing bank stocks, despite solid earnings
Investors have turned pessimistic about everything from the inevitability of a U.S. recession to growing international trade disruptions and higher loan defaults.
Fed lifts rates for 4th time this year but sees fewer hikes
The Fed's updated forecast projects just two rate hikes next year, down from three that monetary policy body had predicted in September.
Fed expected to raise rates while Trump presses criticism
The president fired off two tweets this week objecting to a rate hike. In one of them, he called it “incredible” that the Fed would consider raising rates again when “the outside world is blowing up around us.”
After the Fed’s likely rate hike this week, all bets are off
On Wednesday, the Fed is set to announce its fourth rate hike of the year. But after this week, no one is sure what it will do. Neither, most likely, is the Fed itself.
Allstate plans to add more than 200 agents in Indiana
The insurer said it is looking for 15 new agency owners in Indianapolis who will hire 46 sales agents after they open for business.
Six arrested in 2011 killing of former Indianapolis banker
Federal authorities announced Wednesday that they have solved the high-profile orchestrated killing of a former Indiana banking executive who was shot to death more than seven years ago while driving home from work.
Trump considering Pence aide to run Fannie Mae/Freddie Mac
Vice President Mike Pence’s chief economist, Mark Calabria, is a leading candidate to replace Federal Housing Finance Agency Director Mel Watt, a Barack Obama appointee who has led the regulator since President Donald Trump took office.
Carmel-based Merchants Bancorp to acquire Florida-based lender
NattyMac, which was established in 2004, has a historical connection with Indianapolis and was sold to its current owner in 2017 for $211 million.
Federal Reserve survey cites rising concerns about trade tariffs
The report, known as the beige book, found that optimism about the future had waned somewhat, with business contacts citing “increased uncertainty.”
High Alpha raises $14 million to launch latest tech company
The software-as-a-service company, launched Wednesday, will be led by well-known local tech executive Scott McCorkle.
U.S. stocks nosedive as trade jitters return
The Dow Jones industrial average sank almost 800 points Tuesday as investors worried that a U.S.-China trade truce reached over the weekend wasn't all it was cracked up to be.