The CFO of major U.S. lender Wells Fargo said loan growth in 2026 would exceed the previous forecast and indicated that consumer spending and credit trends remained healthy. Inditex's Zara reported strong August sales, up 9% year on year, despite a heatwave across Europe.
Mike Santomassimo, CFO of Wells Fargo, said at an investor conference that loan growth in 2026 was expected to exceed the previous forecast, and indicated that U.S. consumer spending and credit trends were healthy. This has drawn attention to the company's funding demand and the state of credit supply.
Inditex, which operates the major fashion retailer Zara, reported a strong start, with August sales up 9% year on year despite a heatwave across Europe, its largest market. Autumn sales are expected to exceed market expectations.
GE Aerospace announced plans to acquire casting-parts manufacturer CPP for $11.75 billion. The deal is aimed at expanding production capacity and bringing the engine-related supply chain in-house.
Goldman Sachs raised its price forecasts for North Sea Brent crude and WTI crude by $5 each for December 2026 and 2027, respectively. It cited expectations that disruption to shipping in the Middle East would continue through next year.
Taiwan's Hon Hai Precision Industry said its third-quarter results were expected to exceed market expectations, supported by resilient demand related to AI, while taking a cautious stance on instability in the global political situation.