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Factbox: Big U.S. banks start earnings on a tepid note

Reuters 

REUTERS - Three of the six biggest U.S. banks kicked off the earnings season on Friday, reporting profits that topped Street estimates but failed to enthuse investors who were looking for better results and sunnier outlook.Although the banks started to see some long-awaited benefits of higher interest rates, most warned of a slowdown in mortgage lending. [nL1N1K50TY]"Mortgage banking will continue to be weak, relative to year-ago periods, largely driven by the fact that interest rates are moving higher and less people are refinancing their homes," said Shannon Stemm, an analyst with Edward ...

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First Published: Fri, July 14 2017. 23:17 IST
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