WELLS FARGO & CO (WFC)       40.23  +0.22 (+0.55%)

They had earlier forecast a 100-basis-point hike between now and early next year, but now expect the Federal Open Market Committee (FOMC) to raise rates by about 175 bps. The Fed has aggressively hiked interest rates by 300 basis points so far this year and sees its rate hiking cycle ending 2023 at 4.50%-4.75% as it battles to quell the highest bout of inflation since the 1980s. "The economy is showing signs of resiliency, which will necessitate more monetary tightening to slow growth sufficiently to bring inflation back toward the Fed's target of 2%," said the analysts, led by chief economist Jay Bryson.

Wells Fargo expects steeper rate hikes by the Federal Reserve due to resiliency of the U.S. economy and the central bank's increased resolve to wring out inflation, the Wall Street bank's economists said in a note on Tuesday.

From Costco to Wells Fargo, these Club stocks get most of their revenue in the U.S. at a time when the dollar remains historically strong.

Forbes is tracking the biggest layoffs in the U.S. this summer as companies react to fears of a looming recession.

Home sales have been falling through for many sellers since the beginning of the summer, according to one analyst, as many homebuyers are retreating from the housing market.

A banking oversight hearing becomes the latest forum for a politicized debate over ESG and activist shareholder initiatives.