M&T Bank is a financial services company that provides a range of banking and related services, primarily in the northeastern United States. The bank offers personal and commercial banking solutions, including checking and savings accounts, loans, mortgages, and credit cards. Additionally, M&T Bank provides investment services, wealth management, and treasury management to its clients. The institution emphasizes community engagement and customer relationships, aiming to support individuals and businesses in their financial goals through a combination of personalized service and innovative banking products.
Technology stocks, specifically chipmakers, could lead from the front on Thursday as a stellar third-quarter earnings report from Taiwan Semiconductor Manufacturing Company Ltd.
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.
The Federal Reserve cut rates by 50 basis points in September, with potential for further reductions. Morgan Stanley forecasts midcap and large-cap banks to benefit from rate cuts through 2025.
