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Banking News 13 January 2026 - 14 January 2026

Citi to cut 1,000 jobs as BlackRock trims 250 in latest Wall Street layoffs

Citi to cut 1,000 jobs as BlackRock trims 250 in latest Wall Street layoffs

New York, Jan 13, 2026, 21:40 EST Citigroup (C) plans to slash roughly 1,000 positions this week, according to a source who spoke to Reuters. CEO Jane Fraser continues to push for cost reductions and improved returns at the bank. (Reuters) Timing is key. As big financial firms approach earnings, investors remain fixated on expense lines, not just top-line revenue, following years of ramped-up spending on controls and systems. BlackRock (BLK), the world’s largest asset manager, announced plans to cut roughly 250 jobs, about 1% of its global staff, calling it a routine move to boost efficiency. CEO and co-founder
14 January 2026
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Banks closed today? India’s Makar Sankranti bank holiday list for Jan 14–15, 2026

Banks closed today? India’s Makar Sankranti bank holiday list for Jan 14–15, 2026

NEW DELHI, Jan 14, 2026, 06:21 IST Banks in certain regions of India are closed Wednesday for Makar Sankranti and Magh Bihu. While not a nationwide stoppage, the shutdown affects key local centers and precedes further closures set for Thursday. The timing is crucial since mid-January floods branches with cash withdrawals, cheque deposits, and forms that require in-person handling. Different state holiday schedules can disrupt travellers and small businesses, as festivals fall on varying days across India. Confusion deepens because bank holidays vary: some apply nationally, others only locally. Many are declared under the Negotiable Instruments Act, which regulates cheques
14 January 2026
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Goldman Sachs stock dips after-hours as Fed independence row shadows banks ahead of earnings

Goldman Sachs stock dips after-hours as Fed independence row shadows banks ahead of earnings

New York, January 13, 2026, 19:22 (ET) — Trading continues after hours. Goldman Sachs shares dropped roughly 1.2% to $938.15 in after-hours trading Tuesday, following a session where prices fluctuated between $931.59 and $953.07. U.S. financial stocks broadly weakened, with the Financial Select Sector SPDR Fund falling about 1.8% and the SPDR S&P Bank ETF slipping 0.9%. The timing is tight, with earnings just two days ahead. Goldman Sachs Group, Inc. plans to release its fourth-quarter numbers Thursday at about 7:30 a.m. ET, followed by a conference call at 9:30 a.m., the company announced. (Goldman Sachs) Why now: banks are
14 January 2026
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Citigroup stock slips after hours as job cuts, credit-card cap talk collide ahead of earnings

Citigroup stock slips after hours as job cuts, credit-card cap talk collide ahead of earnings

NEW YORK, Jan 13, 2026, 18:48 EST — After-hours Shares of Citigroup Inc dropped 1.2% to $116.30 in after-hours trading Tuesday. A source told Reuters the bank plans to cut around 1,000 jobs this week, part of a broader effort to reduce its workforce by 20,000 by the end of 2026. “These changes reflect adjustments we’re making to ensure our staffing levels, locations and expertise align with current business needs,” said a Citi spokesperson. The bank employed roughly 229,000 full-time workers as of Dec. 31, 2024, per its latest annual report. (Reuters) The timing is crucial. Citi approaches its earnings
14 January 2026
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Wells Fargo stock slides after-hours ahead of earnings as credit-card cap jitters hit banks

Wells Fargo stock slides after-hours ahead of earnings as credit-card cap jitters hit banks

New York, Jan 13, 2026, 18:51 EST — After-hours Wells Fargo & Company shares dropped 1.5% to $93.56 in after-hours trading Tuesday, just ahead of the bank’s quarterly earnings release. Investors pared back their bets on U.S. financial stocks ahead of the report. The timing is crucial. Major U.S. banks are now handing the market its earliest concrete glimpse of profit drivers for 2026, right as traders wrestle with how quickly borrowing costs might drop—and what impact that could have on bank earnings. According to a Nasdaq report published Tuesday, analysts monitored by Zacks anticipate Wells Fargo will post earnings
14 January 2026
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Capital One stock slips after hours as Trump’s credit-card cap threat hangs over COF

Capital One stock slips after hours as Trump’s credit-card cap threat hangs over COF

New York, Jan 13, 2026, 18:54 EST — Trading after hours. Capital One Financial shares dipped 0.7% to $231.41 in after-hours trading Tuesday, as investors weighed Washington’s ongoing efforts to cap credit-card rates and the potential hit to lenders’ earnings. The stock’s retreat is significant given Capital One’s heavy reliance on credit cards, turning what was once a campaign soundbite into a topic executives now tackle during earnings calls. The next trigger is just around the corner: Capital One’s quarterly results come out next week. President Donald Trump proposed a 10% cap on credit-card interest rates for one year beginning
14 January 2026
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JPMorgan stock drops after earnings: Apple Card reserve, weak deal fees and what’s next for JPM shares

JPMorgan stock drops after earnings: Apple Card reserve, weak deal fees and what’s next for JPM shares

New York, Jan 13, 2026, 17:36 EST — After-hours Shares of JPMorgan Chase & Co. fell roughly 4.2% in after-hours trading Tuesday, slipping to $310.90. The bank’s quarterly results reignited concerns around credit-card performance and dealmaking activity. This matters because JPMorgan is the largest U.S. lender, and its results often shape investor sentiment across the sector. Traders are sorting which segments benefit from volatile markets versus those that rely on a steady deal flow and supportive interest rates. Politics remains a key concern, alongside profits. President Donald Trump’s plan to cap credit card interest rates for one year has rattled
13 January 2026
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Dow Jones drops nearly 400 points as credit-card cap fears hit banks, Visa and Salesforce drag

Dow Jones drops nearly 400 points as credit-card cap fears hit banks, Visa and Salesforce drag

New York, Jan 13, 2026, 17:02 EST — After-hours The Dow Jones Industrial Average fell 398.21 points, or 0.8%, to 49,191.99 on Tuesday, easing from Monday’s record close as Wall Street weighed fresh policy risk for consumer credit and the first wave of big earnings. The S&P 500 slipped 0.2% and the Nasdaq fell 0.1%. (AP News) It matters because the Dow had just printed a record and the market is leaning hard on earnings to keep the rally honest. Big banks are first up, and they are also the ones most exposed when Washington starts talking about credit-card rates.
13 January 2026
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Wall Street Slips as Trump Credit-Card Cap Plan Hits Banks; CPI Holds at 2.7%

Wall Street Slips as Trump Credit-Card Cap Plan Hits Banks; CPI Holds at 2.7%

New York, Jan 13, 2026, 16:50 EST U.S. stocks ended lower on Tuesday, led by a drop in financial shares after JPMorgan executives warned that President Donald Trump’s proposed cap on credit-card interest rates could squeeze lending. The Dow Jones Industrial Average fell 394.97 points, or 0.81%, to 49,195.23, while the S&P 500 lost 0.20% to 6,963.30 and the Nasdaq Composite slipped 0.10% to 23,711.20, preliminary data showed. Visa and Mastercard slid, and “Financials are getting hit by Trump’s credit card proposal,” said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York. (Reuters) Trump’s one-year 10% cap
13 January 2026
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Wall Street slips on JPMorgan warning as December inflation holds at 2.7% — Visa, Mastercard tumble

Wall Street slips on JPMorgan warning as December inflation holds at 2.7% — Visa, Mastercard tumble

NEW YORK, January 13, 2026, 14:57 (EST) U.S. stock indexes slipped on Tuesday as financials dragged after JPMorgan warned that a proposed cap on credit-card interest rates could hit consumers, hammering payment stocks. At 11:28 a.m. ET, the Dow Jones Industrial Average was down 338.22 points, or 0.68%, the S&P 500 fell 0.29% and the Nasdaq Composite dropped 0.21%. Visa slid 4.7% and Mastercard sank 5.3%, and traders still priced in at least two 25-basis-point cuts later this year (a quarter of a percentage point); “The Fed is likely to take its time and absorb more data,” said Skyler Weinand,
13 January 2026
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Wells Fargo stock slides ahead of earnings as credit-card rate cap talk rattles banks

Wells Fargo stock slides ahead of earnings as credit-card rate cap talk rattles banks

New York, January 13, 2026, 14:36 EST — Regular session Wells Fargo & Company shares dipped 1.6% to $93.44 in Tuesday afternoon trading, sliding to an intraday low of $93.36. The stock lost $1.52 on the session, with roughly 11.4 million shares changing hands. The decline arrives just a day ahead of the bank’s quarterly earnings, making Wells Fargo one of the last major U.S. lenders to report this week. The company is set to release its fourth-quarter 2025 results around 7:00 a.m. ET on Wednesday, followed by a conference call at 10:00 a.m. ET. (Wells Fargo Newsroom) Policy risk
13 January 2026
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Capital One (COF) stock steadies after Trump’s 10% card-rate cap threat as $425 million settlement hits

Capital One (COF) stock steadies after Trump’s 10% card-rate cap threat as $425 million settlement hits

New York, January 13, 2026, 11:03 AM EST — Regular session Shares of Capital One Financial Corp ticked up Tuesday, clawing back a bit after Monday’s dip. Investors are wrestling with how aggressive Washington might get on capping credit-card interest rates—and what that could spell for lenders reliant on card business. By late morning, the stock was trading around $233.84, up roughly 0.3%. Policy risk is in focus. U.S. President Donald Trump has proposed a 10% cap on credit-card interest rates for one year starting Jan. 20, but hasn’t specified how it would be enforced. This rattled lenders and card
13 January 2026
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Stock Market Today

Macquarie Group share price slips 2% after APRA eases liquidity curbs — what to watch next week

Macquarie Group share price slips 2% after APRA eases liquidity curbs — what to watch next week

7 February 2026
Macquarie Group shares fell 2.17% to A$207.83 Friday, marking a third straight decline as the ASX 200 slid 2%. Australia’s regulator trimmed liquidity requirements for Macquarie Bank after improvements in controls. Macquarie Asset Management announced two UK utility deals, including full ownership of Last Mile Infrastructure and the purchase of Energy Assets Group. Investors await Tuesday’s operational briefing.
Wall Street Feels the Heat (and Thrill): Fed Cuts, Tariffs & Mega-Mergers Set NYSE Buzz

Stock Market Today 07.02.2026

7 February 2026
LIVEMarkets rolling coverageStarted: February 7, 2026, 12:00 AM ESTUpdated: February 7, 2026, 1:05 AM EST Crude Oil Prices Rise on Dollar Weakness, Geopolitical Tensions February 7, 2026, 12:52 AM EST. Crude oil prices edged higher on Friday, supported by a weaker U.S. dollar and escalating geopolitical risks in the Middle East. March WTI crude gained 0.41%, rebounding from early losses, while gasoline prices rose 1.38%. Doubts over a U.S.-Iran nuclear deal loom after reports of Iran's refusal to halt uranium enrichment, raising the risk of military action and potential disruption of vital shipping routes. Additionally, a surge in U.S. consumer
Seagate (STX) stock jumps nearly 6% as Citi hikes target — what to watch next week

Seagate (STX) stock jumps nearly 6% as Citi hikes target — what to watch next week

7 February 2026
Seagate shares rose 5.9% to $429.32 Friday after Citigroup raised its price target to $480 and reiterated a buy rating. The gain ended a two-day slide but left the stock 6.6% below its Feb. 3 high. CEO Dave Mosley sold 20,000 shares on Feb. 2 under a pre-arranged plan, SEC filings show. U.S. jobs and inflation data next week are seen as key tests for tech stocks.
Cummins (CMI) stock price rebounds after earnings whipsaw as investors eye data-center power demand

Cummins (CMI) stock price rebounds after earnings whipsaw as investors eye data-center power demand

7 February 2026
Cummins shares jumped 6.8% to $577.73 Friday, recovering from a nearly 9% post-earnings drop the day before. The company reported Q4 revenue up 1% to $8.54 billion, took a $218 million charge tied to its hydrogen business, and guided for 2026 EBITDA of 17–18% of sales. Demand for data center generators offset weakness in North American truck markets. Analyst reaction was mixed; Truist raised its price target.
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