(NEW YORK) Goldman Sachs & Apple looking at creating their own ‘ Credit Card ‘ the Wall Stre et journal reported on Thursday citing unnamed sources but both parties declined to comment on the report ev en though with ApplePay and the increase in mobile payments it’s something worth watching #AceFinanc eDesk reports

#AceFinanceNews – May.11: Goldman Sachs and Apple are looking to partner together to create a new credit card, the first foray by Goldman Sachs into the $1 trillion credit card market, The Wall Street Journal reported Thursday, citing unnamed sources: The Goldman-Apple credit card would be tied to Apple’s payment service known as Apple Pay and Apple’s co-brand partnership with Barclays would come to an end, the Journal said #AceFinanceDesk reports

Goldman has been incrementally pushing into consumer banking products. It does personal loans and savings accounts under the brand Marcus, and has been looking at other consumer products: A co-brand credit card is when a company partners with a bank to create a credit card that will spur loyalty and spending with the company. There are hundreds of co-brand partnerships, with brands large and small, and it’s an intensely competitive business for credit card companies.

Apple is a huge and iconic brand, and it would be a symbolic success for Goldman as it enters the consumer credit card market, industry experts said, But it is not a large co-brand partnership like American Express’ partnership with Delta Air Lines, Citigroup’s partnerships with Costco and American Airlines or JPMorgan Chase’s partnerships with Marriott and United.

“It’s not going to put them on the map when it comes to market share, but it’s definitely a strong customer base you want to have,” said Brian Riley with Mercator Advisory Group, which specializes in consulting with companies looking to do co-brand credit cards.

This is the second time Apple and Goldman have been mentioned together as potential partners. The Journal reported earlier this year that Goldman was looking to take over Apple’s iPhone financing program from Citizens Bank.

Goldman Sachs and Apple both declined to comment on the report.Goldman Sachs and Apple are looking to partner together to create a new credit card, the first foray by Goldman Sachs into the $1 trillion market: Mail Online https://ift.tt/2rzt2Lv https://t.me/acebreakingnews/746933

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ Ace News Services Posts https://t.me/acenewsdaily and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews all private chat messaging on here https://t.me/sharingandcaring

MARKETS REPORT: Thursday Dow climbs 197 points, rising for the sixth day in a row. Nasdaq and S&P 500 gain nearly 1% with dollar fell against the euro, the Japanese yen and a basket of other major currencies, while the Mexican peso and Brazilian real jumped more than 1 percent on the news #AceFinanceDesk reports

#AceFinanceReport – May.11: The dollar and U.S. government debt yields fell on Thursday while equity markets rallied after a modest rise in consumer prices in April eased concerns the Federal Reserve might raise interest rates more than expected this year: The U.S. Labor Department said its Consumer Price Index rose 0.2 percent last month, less than forecasts for 0.3 percent, as a moderation in healthcare prices offset increases in the cost of gasoline and rental accommodations #AceFinanceDesk reports

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The dollar fell against the euro, the Japanese yen and a basket of other major currencies, while the Mexican peso and Brazilian real jumped more than 1 percent on the news.

Equity markets rose as the soft inflation data reduced the prospect of the Fed boosting rates three more times in 2018, instead of four times many in the market were forecasting.

Apple hit a record high at $190.37, with all 11 major S&P sectors posting gains.

Benchmark 10-year U.S. Treasury notes rose 8/32 in price to push yields down to 2.964 percent after breaching 3 percent on Wednesday.

“Inflation is going to rise in year-over-year terms over the summer, but the rise remains moderate rather than sharp,” said Eric Winograd, senior economist at AllianceBernstein LP.

The soft read on inflation should give the Fed comfort that their gradual approach to raising rates is the correct one and ease market concerns, he said.

“I view today’s number as a slight positive for risk assets in the near term,” Winograd said.

However, the broad-based Underlying Inflation Gauge released by staff at the New York Fed later in the session showed inflation at 3.2 percent in April.

“We did have a miss on CPI for this particular month, but I don’t think the overall trend for higher inflation has materially changed,” said Eddy Vataru, a portfolio manager at Osterweis Capital Management in San Francisco.

“With oil prices north of $70, it’s hard for me to believe this is going to be a persistent trend of inflation misses,” he said.

MSCI’s broad gauge of global equity markets rose 0.82 percent and turned positive for the year as it hit three-weeks highs.

Apple, Chinese internet giant Tencent, Microsoft and Facebook led the index’s advance, while the U.S. technology sector lifted Wall Street.

Emerging market stocks rose 1.43 percent, after Asia-Pacific shares outside Japan and the Nikkei in Tokyo both earlier closed higher.

The pan-European FTSEurofirst 300 index of leading regional shares closed down 0.13 percent, but markets in London , Germany and France closed higher.

On Wall Street, the Dow Jones Industrial Average rose 197.78 points, or 0.81 percent, to 24,740.32. The S&P 500 gained 23.12 points, or 0.86 percent, to 2,720.91 and the Nasdaq Composite added 56.36 points, or 0.77 percent, to 7,396.27.

Oil markets were choppy but settled higher as traders eyed further declines in Venezuelan crude production in tandem with bullish drawdowns in U.S. crude inventories.

Brent crude futures rose 26 cents to settle at $77.47 a barrel, after hitting $78 earlier in the day, their highest since November 2014.

U.S. West Texas Intermediate crude futures settled up 22 cents at $71.36.

Gold rose on the weaker dollar and as tensions between the United States and Iran also supported the precious metal.

U.S. gold futures for June delivery settled up $9.30 at $1,322.30 per ounce.

The dollar and U.S. government debt yields fell on Thursday while equity markets rallied after a modest rise: Mail Online https://ift.tt/2rzGDBD https://t.me/acebreakingnews/746961: (Reporting by Herbert Lash; Editing by Bernadette Baum and Nick Zieminski): Dow climbs 197 points, rising for the sixth day in a row. Nasdaq and S&P 500 gain nearly 1%. Slumping sales at Victoria’s Secret drive L Brands down 7%. https://cnnmon.ie/2KQV4tS

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ Ace News Services Posts https://t.me/acenewsdaily and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews all private chat messaging on here https://t.me/sharingandcaring