Reuters Before the Bell: BlackRock profit misses as market turmoil hits bottom line

Click to View in Browser Wednesday, January 16, 2019 BlackRock profit misses as market turmoil hits bottom line BlackRock Inc , the world's largest asset manager, reported lower-than-expected quarterly profits on Wednesday, as price cuts and market turmoil overshadowed strong sales of relatively low-cost funds. Goldman Sachs reports higher fourth-quarter trading revenue Goldman Sachs reported an increase in trading revenue on Wednesday, the first Wall Street bank so far to show growth in that business during the fourth quarter as a rise in equities trading revenue offset losses from bond trading. Ford forecasts weaker-than-expected fourth quarter profit Ford Motor Co gave a fourth-quarter earnings forecast on Wednesday that was below analysts' expectations, sending shares down more than 2 percent in premarket trading. Oil edges down on worries over global economy, supply glut Oil prices edged down on Wednesday having climbed about 3 percent in the previous session, with worries about the global economy and forecasts of swelling U.S. production hurting sentiment. World stocks hold nerve after May's Brexit defeat, pound steady World equity markets on Wednesday held their nerve after the heavy parliamentary defeat of British Prime Minister Theresa May's Brexit deal as investors saw potential for legislative deadlock forcing London to delay its departure from the EU. U.S. automakers push for deal on fuel efficiency rules Executives at the major U.S. automakers are pressing the Trump administration and California to agree on standards for fuel efficiency and carbon emissions through 2025, as risks increase that a deadline for setting national standards will pass without a deal. Brazil's Embraer sees breakeven in 2019 before interest, taxes Brazilian planemaker Embraer SA said on Wednesday it expects 2019 earnings to be "approximately zero," before factoring in interest and taxes. BofA beats profit estimates on higher interest income, loan growth Bank of America Corp reported better-than-expected fourth-quarter profit as higher interest income and loan growth eclipsed declines in revenue from investment banking and bond trading, sending its shares up 3 percent. Guggenheim's Scott Minerd says Fed will pause to start 2019 The Federal Reserve is likely to hold its interest rate hikes on pause for the start of 2019 in order to stabilize markets, given economic growth is set to slow and financial conditions having tightened, Guggenheim Partners Global Chief Investment Officer Scott Minerd said on Wednesday. Marriott looks to reboot loyalty plan after cyber attack Marriott International Inc will relaunch its loyalty program under a new brand name, the company said on Wednesday, as it seeks to undo the damage to its name from a massive cyber attack that led to millions of customer records being stolen. Related Video Why Huawei's claim of innocence may not be enough Huawei's founder denies his company spies for China Make sense of the market with highlights of valuable financial information and reports along with compelling investment insights. Register Today The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2019 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook