NYSE:BNY - New York Stock Exchange, Inc. - US09248L1061 - Currency: USD
Wall Street is set to wrap up another week of tariff-fueled turmoil.
Tariffs will be at the center of the market action in the week ahead as Trump's latest announcements have sent stocks reeling.
State Street is reportedly planning to unveil its digital asset custody offering next year, while Bank of New York Mellon is expected to add support for more digital assets, in addition to its existing limited custody service for BTC and ETH.
US banks' earnings season kicks off Friday with major players like JPMorgan, Wells Fargo, and Bank of New York Mellon reporting. Analysts expect positive performance driven by Fed rate cuts and excess capital return. RBC's top picks are Truist Financial and KeyCorp.
Bank stocks may rebound with a soft-landing, rate cuts, and improved customer activity, but political risks and lower interest rates could dampen growth.