The rate story that has wall street talking this hour. Pete, slower loan growth across the board for the banks. As the tenyear continues to come down, the banks were almost all negative. Youve had a little reversal but the market cant do anything. And everybody is looking at the 10year and obviously for a last while weve had this thing correlated. I think the impressive part is theres actually still even growth. Because of the fact weve seen some of these numbers moving where they were, yesterday i said on the show i wouldnt even be i think theyre going to have something to balance it out. Well, they did. The Trading Volumes and what they have done with trading is absolutely spectacular. You took and its really, really impressive. At citi its up 19 . Jpmorgan is up 17 year over year. So there is that balancing act but loan growth is what everybody was focused on. And yet the banks today are flat as a group. I think the biggest story in the market is rates. As the 10year goes down to 2.
Power lunch starts right now. And welcome to power lunch, im michelle carusocabrera. Stocks are in the red this hour, giving up modest gains they had earlier. The three major averages are posting losses for the shortened trading week. Thats right, no trading tomorrow. That would mean a second straight weekly drop the third out of the last four weeks. The big sectors in focus, the financials. Jpmorgan, citi, all beating estimates. Mixed results for wells fargo. Thank you. Im tyler mathisen. Heres what else is happening at this hour on a very busy news day. Seems like there havent been any yet lately. Yext the latest tech company to go public. They soared 30 on the first day of trading. Uber had a secret operation to track lyft drivers according to the information the ride sharing Giants Program called hell spoofed lyft accounts and tracked drivers. And samsung says preorders for its new galaxy s8 are better than the previous s7 which had to be recalled because of exploding batteries. We
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During a fastmoving fire. Who saved the day . And dog napping. The search tonight for the person who swiped a military Veterans Service animal. News 4 new york at 11 00 starts now. Good evening to you. Im sibila vargas. And im david ushery. Chuck has the night off. It is a disturbing and disgusting crime. A hospital worker accused of taking advantage of patients in their most vulnerable moments, and Police Say One victim is 83 years old. News 4s ray villeda is live at kings county hospital where fired. Ray . Reporter sibila, david, at first these two victims thought it was all part of a routine xray process here at kings county. What happened next had one in shock, the other one screaming. Thats just disturbing. Thats all i can say. Reporter inside kings county hospital, in an x ray room, Police Sources tell news 4 larry jones fondled, groped, and sexually abused an 83yearold woman. She was here for xrays of her and sexually abused the woman. I think its sick. You trust the people that
The challenge is to make sure that we distribute supply and we have the Distribution Systems that will allow a consumer conveniently and easily get that higher bland. Thats why we put 100 million behind in an effort to understand blending pumps. Including in in texas. Which has matched our 112 million in commitments to roughly command new Distribution Systems. You are dealing with a hundred thousand pumps and tens of thousands of gas stations. Beauty of commercial aviation is 40 airports so 90 of the jet fuel. So thats why i think the longterm opportunities for this industry will be complimenting what we are doing for cars and trucks and expand on higher blend and appreciate the amazing opportunity we have on the commercial aviation side and on the Defense Department side. Combination of those two things i think suggest that this future is quite bright for this industry. Since were talking about this mr. Secretary, im wondering if you personally or did you use in any form a vehicle tha