Earnings from America's biggest banks show the U.S. Economy is still going strong.
Plus, U.S. Stocks continue their gains with the Nasdaq hitting its longest winning streak in years.
And why Amazon is buying a rival to Elon Musk's satellite network Starlink.
Starlink is way ahead of Amazon in the satellite connectivity business.
When Amazon gets control of Global Star, they'll get a pretty big boost on the way up towards competing with Starlink.
It's Tuesday, April 14th.
I'm Alex Oselev for The Wall Street Journal.
This is the PM edition of What's News, the top headlines and business stories that move the world today.
U.S. Banks are reporting earnings this week.
And they've got good news.
American households and businesses are holding up.
Today, JPMorgan Chase, Citigroup and Wells Fargo said customers continued to spend,
borrow and invest in the first quarter, even as war broke out in the Middle East and investors worried about risks
from inflation, AI and turmoil in private credit funds.
The three banks earned a collective $27.5 billion in the first quarter, up 17% from a year earlier.
In his most recent newsletter, WSJ investing columnist Spencer Jacob says there 's reason to think that these good results
wo n't just be limited to the banking sector, even though consumers are showing some signs of strain.
Spencer, where might we be seeing these strong earnings?
It was generally a good quarter for Wall Street banks, for sure.
But overall, it's likely to be a very good earnings season.