WELLS FARGO ADVA.MUL.INC.

After volatile trading, US indices briefly turned positive but gave back gains before the close. Comments by Jerome Powell stoked hopes of an October rate cut, while fears of an escalating US–China trade dispute flared again. Wells Fargo impressed with its results and led the winners in the S&P 500, while Nvidia finished at the bottom; investors remain cautious amid earnings season and interest-rate uncertainty. » Mere på deraktionaer.de

Wells Fargo reported third-quarter net income of $5.59 billion, or $1.66 per share, up from $5.11 billion, or $1.42 a year earlier. Net interest income rose 2% year-over-year to $11.95 billion. The bank and peers have benefited from Federal Reserve rate cuts that eased deposit costs and supported lending margins. » Mere på cnbc.com

A group of 15 Democratic senators led by Ruben Gallego demands in a letter to CEO Charlie Scharf that Wells Fargo stop its campaign against employees’ union organizing. The senators write that the bank has become increasingly aggressive toward workers trying to form unions in several states and cited six unfair labor practice charges filed this year with the National Labor Relations Board. They call for a more constructive approach to labor relations, fair wages and safe working conditions to remedy what they described as a toxic workplace culture. » Mere på de.investing.com