Bank Earnings Show U.S. Economy Is Holding Up

Major U.S. banks reported a 17% year-over-year increase in first-quarter earnings, signaling resilience in consumer and business spending despite geopolitical tensions and inflation concerns. BlackRock and Johnson & Johnson also posted strong results, while Amazon's $11 billion acquisition of Globalstar aims to accelerate its satellite internet push against Starlink. Meanwhile, the Nasdaq achieved its longest winning streak since 2021, driven by robust earnings and easing market anxiety over Iran tensions.

Get a concise, data-rich pulse on the U.S. economy’s resilience, major corporate moves, and how market psychology is shifting amid global risks.

1. 01JPMorgan, Citigroup, and Wells Fargo collectively earned $27.5 billion in Q1, reflecting sustained economic strength in consumer and corporate sectors.
2. 02Amazon's acquisition of Globalstar provides critical infrastructure to compete with Starlink in satellite-based smartphone connectivity.
3. 03The NBA faces growing scrutiny over 'tanking' incentives, as eight teams lost at least two-thirds of games to improve draft odds for top prospects.