SMFG

Sumitomo Mitsui Financial Group (SMFG) reported fiscal 2026 earnings Wednesday of 411.88 yen ($2.61)

TOKYO (AP) — TOKYO (AP) — Sumitomo Mitsui Financial Group Inc. (SMFG) on Friday reported net income of $2.99 billion in its fiscal third quarter. The Tokyo-based bank said it had earnings of 16 cents per share. The bank posted revenue of $17.71 billion in the period. Its revenue net of interest expense was $17.71 billion, topping Street forecasts. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SMFG at https://www.zacks.com/ap/SMFG

Sumitomo Mitsui Financial Group (SMFG) reported nine-month earnings Friday of 362.12 yen ($2.35) per

The major indexes capped of a second straight stretch of weekly losses as investors digested a wave of geopolitical headlines and navigated what remains an unsettled trading environment to start 2026. The S&P 500 (^GSPC) barely cracked above the flat line by less than 0.1% on Friday, losing 0.4% in total on the week, and the Dow Jones Industrial Average (^DJI) fell into the red by 0.7% on the week. Despite finishing Friday on a gain of 0.3%, the tech-focused Nasdaq Composite (^IXIC) also fell into the red for the week, shedding roughly 0.1% in total. The breakout price action for the week came in the natural gas (NG=F) market, where futures spiked 75% in the five trading sessions leading up to Thursday as Winter Storm Fern brings Arctic cold and snow to more than 150 million people across the US. The biggest headlines last week emerged from the world leaders and business luminaries who gathered in Switzerland for the World Economic Forum in Davos. President Trump and Europe's leaders agreed on the "framework" of a deal over Greenland, but the forum revealed the schism forming between the US and some of its major Western allies. Currencies have largely taken a back seat to stocks since the post-pandemic market rally took hold and investors focused on earnings growth, AI-driven optimism, and the steady resilience of US equities. But that may be starting to change, according to Macquarie global FX & rates strategist Thierry Wizman. "While a Greenland 'deal' solves the immediate problem of tariffs and/or invasion, it doesn't solve the core issue of the seeming mutual alienation of the US from its allies," Wizman wrote in a note to clients on Wednesday. "It's in that spirit that we can still talk about a fracturing, more dangerous, world, in which the US is less vaunted, the USD loses its reserve currency status, and where the US focuses instead on the Western Hemisphere as its sole and defendable redoubt." And while the US backed off tariff threats over Greenland, and the EU suspended a package of retaliatory trade measures, investors still appear keen to find safe haven outside of the dollar. Over the past five days, EUR/USD, the most traded FX pair in the world, has picked up nearly 2% as the euro has strengthened against the dollar. At the same time, the dollar has fallen more than 2.7% against the Swiss franc, a sign of traders hedging against systemic insta...

Pre-markets are down again in early trading today, now down for the week — just a day and a half from the blue-chip Dow setting a new all-time closing high. A plurality of Fed members have by now spoken up this week doubting that 25 basis-point (bps) cuts will continue indefinitely, mostly because there is almost no visibility on economic metrics with a six-week government shutdown — the longest in U.S. history. Today was supposed to bring us October Retail Sales, which were predicted to have turned negative for the first time in four months, following gains of +1.0%, +0.6% and +0.6% sequentially. Also, the Producer Price Index (PPI) — the wholesale side of inflation — was estimated to grow +0.3% for the month, from -0.1% reported at its most recent release, for August. Year over year PPI was +2.6% in August, down from +3.1% in July. Will we see this downtrend continue? If we do — and especially if we see continued weakness in the labor market (eventually) — then we can expect 25 bps interest rate cuts to continue. We did get an alternate print on Weekly Jobless Claims this morning, with Initial Claims unchanged week over week to 228K and Continuing Claims coming down -18K to 1.95 million. None of this data seems to be capturing the uncommonly high number of layoffs reported over the past couple weeks, so we won’t bet the farm on this data just yet. All told, the Dow is -345 points at this hour, -0.73%, while the S&P 500 is -75, -1.12%. The Nasdaq continues to fare the worst — the dark clouds over possibly excessive AI spending have not yet parted — -394 points, -1.57%, while the small-cap Russell 2000 is -32, -1.37%. At this stage, we’re on pace for the worst November of trading since 2008. Two Japanese finance majors reported fiscal Q2 results this morning. Zacks Rank #2 (Buy)-rated Mitsubishi UFJ MUFG beat on earnings by a solid dime: 44 cents per ADR versus expectations for 34 cents, for a +1.3% positive surprise. Zacks Rank #3 (Hold)-rated Sumimoto SMFG did one better, reporting 59 cents per ADR versus 40 cents anticipated, for a positive surprise of +47.5%. Both stocks are up in early trading on the news. The Business Inventories report expected later this afternoon? Forget it. We will hear from a couple more Fed members today on the state of the economy — Kansas City Fed President Jeff Schmid and Dallas Fed President Lorie Logan — but unless these off...

(Bloomberg) -- The slump in Japan’s long-term bonds intensified Monday, pushing yields sharply higher in a move that puts global debt markets on alert. Most Read from Bloomberg Why Did Cars Get So Hard to See Out Of? How German Cities Are Rethinking Women’s Safety — With Taxis Advocates Fear US Agents Are Using ‘Wellness Checks’ on Children as a Prelude to Arrests Amid signs of thin liquidity and increasing worries about higher government spending in Japan, yields on bonds from the 10-year to the 40-year spiked in moves reminiscent of the surge that rippled through global markets in May. While the pressure in Japan is being heightened by the looming election on July 20, concerns over governments spending beyond their means also apply to the UK, Europe and US. Japan’s 40-year yield led the way, with a jump of 17 basis points in afternoon trading, while the 30-year yield neared the record high seen in May and the 20-year yield touched the highest since 2000. The rout in Japan’s debt market also followed a tumble in US Treasuries on Friday as worries about inflation re-emerged. In Germany on Monday, long-term borrowing costs were on course to hit their highest since 2011 amid concern over tariffs and extra government spending. “Government spending is huge,“ said Amir Anvarzadeh, Japan equity strategist at Asymmetric Advisors Pte. “Inflation is up, wages are up. At some point something has to give,” he said, adding that rising JGB yields are also a worry for stocks. Focus has intensified on the nation’s upper house election, with several local Japanese media polls pointing to the possibility the ruling bloc may lose its majority. Politicians have been wooing voters with promises of more government spending and tax cuts, which would increase the nation’s debt load. “There is a move to reduce risk ahead of the upper house election in the bond market,” said Miki Den, senior rates strategist at SMBC Nikko Securities. “With few buyers expected before the election and ongoing selling flows, super-long-term bonds are experiencing large price fluctuations and are being sold off.” What Bloomberg Strategists say: “Long-ended JGBs are selling off nastily yet again toward the end of Tokyo’s day and that’s casting a shadow on Europe’s morning by reemphasizing concerns that bond markets are fragile heading into critical US inflation data later this week” — Garfield Reynolds,...