

"An examination by the Federal Reserve Bank of New York found that Deutsche Bank AG's giant U.S. This comes as the average 30-year fixed rate mortgage holds steady at 4.33%.ĭeutsche Bank's Got Problems, Says Fed.

The MBA Mortgage Applications Index climbed 2.4% last week, driven by a 4.1% jump in refinancings. On Tuesday, the S&P 500 touched an all-time intraday high of 1,986.24.ĭemand For Mortgages Pick Up. futures are up with Dow futures up 25 points and S&P futures up 3.3 points. In Asia, Japan closed down 0.1% while Hong Kong's Hang Seng rose 0.8%. In Europe, Britain's FTSE 100 is up 0.3%, France's CAC 40 is up 0.5%, and Germany's DAX is up 0.6%. "Despite operating in what continues to be a challenging and volatile macro environment, we are delivering consistent, strong results," said CEO Indra Nooyi. Organic revenue grew 3.6% during the quarter. Global beverage and snack giant PepsiCo reported Q2 earnings of $1.32 per share, beating expectations for $1.23. PepsiCo Beats, But Takes A Swipe At The Economy.

"Agricultural Sciences also increased sales, rising 3 percent in the quarter and achieving a first-half sales record of $4 billion." "Gains were reported in all operating segments, led by Performance Plastics (up 4 percent) and Electronic and Functional Materials (up 5 percent)," said management. Dow is bellwether of global economic activity. Dow Chemical reported earnings of $0.74 per share, beating expectations for $0.71. Management blamed its Nokia acquisition for taking $0.08 off the bottom line.īing! Bing search ad revenue was up a whopping 40%, and Microsoft says it now has 19.2% of the U.S. Earnings, however, was disappointing at $0.55 per share analysts were looking for $0.60. Microsoft reported Q2 revenue of $23.38 billion, which was a bit higher than the $23.01 billion expected. Cook said China was surprising because its a market that's actually contracting as a whole. On the earnings conference call, CEO Tim Cook said iPhone unit sales spiked 48% in China.
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During the quarter, iPhone sales jumped 13% to 35.2 million units, iPad sales fell 9% to 13.3 million units, and Mac sales jumped 18% to 4.4 million units.Īpple Huge In China. Revenue was a bit light, climbing just 6% to $37.43 billion analysts were looking for $38 billion. Apple reported Q2 earnings jumped 22% year-over-year to $1.28 per share, beating expectations for $1.23. Good morning! Here's what you need to know:Īpple Beats On The Bottom Line.
