Wells Fargo (WFC) says activity has been very stable and very resilient across businesses; May debt and credit card spend +9% Y/Y, higher gas prices was a key driver
Mastercard (MA) management says that recent leadership movements have not changed the co's strategy; adds that moves were framed as portfolio rotations to bring "fresh eyes", while maintaining the flow in core payments
Ally Financial (ALLY) says 2026 guidance implies another meaningful step-up in EPS and RoE, after EPS rose 62% Y/Y; adds that management confidence is rising in reaching a sustainable mid-teens return profile in the medium term
Wells Fargo (WFC) says activity has been very stable and very resilient across businesses; May debt and credit card spend +9% Y/Y, higher gas prices was a key driver
US ADP Employment Change Weekly 29K (Prev. 35.75K)
BP (BP/ LN) announces shake-up of corporate structure; simplifies into two main units, upstream and downstream
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- Credit performance is running a little better than we model each month across all portfolios, with that favourable trend continuing.
- Sees opportunity in equity capital markets and advisory segments.
- Continuing to see market share growth in investment banking.
- "Very confident" in NII guidance for 2026.
- Expects "step up" in NII in Q2.
- Loan growth is performing well and will be a little bit better than what was modeled.
- No changes to the expense guidance for 2026.
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