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Here's your midday brief for Tuesday, October 14th.

I'm Zoe Colkin for the Wall Street Journal.

Major bank earnings have been topping analysts' expectations,

including J.P. Morgan Chase with a 12% jump in quarterly profit, though the company's CEO, Jamie Diamond, is warning of continuing uncertainty ahead,

citing geopolitical tensions, tariffs, and inflation risks. Among other financial institutions,

Wells Fargo raised a key profitability target after better than

expected quarterly profit. Goldman Sach's main investment banking in markets division is on track for a record year,

and Citigroup's profit jumped 16%, largely due to a surge in dealmaking and trading revenue.

And the world's biggest money manager, BlackRock, shattered its own

record, reporting that assets under management top $13 trillion for the first time. Despite these

positive earnings reports, the International Monetary Fund is projecting global economic growth

to slow to 2.6% this year from 3.6% last year, largely due to tariffs,

inflation, and other mounting threats. U.S. growth is now likely to slow 1.9% this year,

better than the 1.7 increase the IMF predicted in July, but down from 2.4% growth recorded in

2024.

Spending on AI infrastructure has been a strong economic boost in the U.S., but IMF economists warned that a potential bust of the current AI boom could lead to a serious downturn,

rivaling the severity of the dot-com crash in 2000 to 2001.

And Israel and Hamas are trading accusations of violating the recently established ceasefire

agreement, demonstrating the deal's fragility following the release of the final living

...