Finance

Net revenues fell 2% in the second quarter compared to a year ago, according to the firm.

Profits rose 8% year-over-year at the bank's Global Wealth & Investment Management unit, which includes Merrill Lynch and U.S. Trust.

The number of financial advisers at the firm declines 1% to 15,042.

While the value of broad diversification becomes evident over 15 to 20 years, its virtues will often be noticeable even over shorter time frames.

Inflation and unemployment haven't reached levels that would justify an increase in interest rates, even without risks from Britain's vote to leave the European Union, Federal Reserve Governor Daniel Tarullo said.

"Gold and silver have already come a long way, so perhaps it's not surprising to see them pull back a little," one analyst says.

Investors see a nearly 80% chance that rates will be unchanged at the next two meetings of the Federal Open Market Committee, according to prices of options on eurodollar futures contracts.

Debt crises, fiscal cliffs and market bubbles will always capture headlines, but are often short lived.

Britain's vote to leave the European Union will almost certainly have repercussions for the Federal Reserve -- and those could play out over days or months.

Fewer Federal Reserve officials expect the central bank to raise interest rates more than once this year, as policy makers gave a mixed picture of a U.S. economy where growth is picking up and job gains are slowing.

Here’s what to listen for when Fed Chairwoman Janet Yellen speaks later on Wednesday.

Which periods produce the best long-term returns for different asset classes?

The Federal Reserve chairwoman was mum about when there might be another hike, which for some suggests she's not in a hurry.

Rates have been on hold amid market volatility and a slowdown in U.S. growth.

Central bankers will shed more light this week on the risks of either raising interest rates amid global uncertainty or leaving them on hold again as the U.S. economic outlook improves.

The wirehouse will consider the move if “conditions remain as they are or grow worse,” CEO Sergio Ermotti says.

The acquisition hungry firm added nearly 800 independent and employee advisers over the previous year.

Earnings have been soft for the industry's biggest brokerages, but lending has helped bolster performance.

Stung by a 16% year-over-year decline in transaction-based revenue, the wirehouse looks to loans, bank products and a contingent of former Credit Suisse advisers for a bounce back.

The bank suffers net income declines, while volatility causes a slump in trading across the firm.