U.S. Bancorp Q2 Results Top Estimates

U.S. Bancorp (USB) reported Wednesday that net income attributable to U.S. Bancorp for the first quarter declined to $1.32 billion or $0.78 per share from $1.70 billion or $1.04 per share in the prior-year quarter.

U.S. Bancorp (USB) reported Wednesday that net income attributable to U.S. Bancorp for the second quarter declined to $1.36 billion or $0.84 per share from $1.53 billion or $0.99 per share in the prior-year quarter.

U.S. Bancorp (USB) and Mitsubishi UFJ Financial Group or MUFG (MTU) on Friday have mutually agreed to exercise their right under the purchase agreement for U.S. Bank's acquisition of MUFG Union Bank's core regional banking franchise to extend the outside termination date to December 31, 2022 from September 30, 2022.

Asian stock markets are trading mostly higher on Tuesday, following the mixed cues from Wall Street overnight, as traders remain optimistic and keep a close eye on developments on the tariff front, with US Treasury Secretary Scott Bessent reportedly said he believes an agreement in principle can reached on "17 or 18 important trade deals" the administration is currently negotiating.

Indian shares may open on a flat note Tuesday as investors react to macroeconomic data as well as reports suggesting that U.S. President Donald Trump may consider giving automakers a break on some of his tariffs.

The Thai stock market has moved higher in two straight sessions, gathering more than a dozen points or 1 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,160-point plateau and it's expected to be rangebound again on Tuesday. The global forecast for the Asian markets is mixed with a touch of upside amidst a lack of catalysts. The European markets were up slightly and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference. The SET finished barely higher on Monday as gains from the food, finance, resource and technology stocks were capped by weakness from the consumer, industrial, property and service sectors. For the day, the index rose 0.53 points or 0.05 percent to finish at 1,159.53 after trading between 1,156.63 and 1,166.32. Volume was 5.368 billion shares worth 28.497 billion baht. There were 250 decliners and 216 gainers, with 188 stocks finishing unchanged. Among the actives, Advanced Info added 0.36 percent, while Thailand Airport retreated 0.68 percent, Asset World sank 0.90 percent, Banpu gained 0.47 percent, Bangkok Bank collected 0.74 percent, Bangkok Dusit Medical tumbled 1.70 percent, Bangkok Expressway picked up 0.84 percent, B. Grimm strengthened 0.89 percent, BTS Group declined 0.81 percent, CP All Public lost 0.50 percent, Charoen Pokphand Foods advanced 0.97 percent, Energy Absolute slumped 0.91 percent, Gulf gathered 0.55 percent, Kasikornbank rose 0.32 percent, Krung Thai Bank climbed 0.96 percent, PTT Oil & Retail surged 4.58 percent, PTT rallied 0.82 percent, PTT Exploration and Production was up 0.50 percent, PTT Global Chemical stumbled 2.82 percent, SCG Packaging tanked 2.21 percent, Siam Commercial Bank improved 0.86 percent, Siam Concrete dropped 0.99 percent, True Corporation shed 0.84 percent, TTB Bank increased 1.13 percent and Krung Thai Card and Thai Oil were unchanged.

The Indonesia stock market has moved higher in back-to-back sessions, advancing almost 110 points or 1.8 percent along the way. The Jakarta Composite Index now rests just above the 6,720-point plateau although it's expected to open to the downside on Tuesday. The global forecast for the Asian markets is mixed with a touch of upside amidst a lack of catalysts. The European markets were up slightly and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference. The JCI finished modestly higher on Monday following gains from the financial shares and mixed performances from the cement companies and resource stocks. For the day, the index added 44.05 points or 0.66 percent to finish at 6,722.97 after trading between 6,688.78 and 6,736.86. Among the actives, Bank CIMB Niaga fell 0.29 percent, while Bank Mandiri collected 0.41 percent, Bank Danamon Indonesia improved 0.83 percent, Bank Negara Indonesia dipped 0.24 percent, Bank Central Asia spiked 2.03 percent, Bank Rakyat Indonesia accelerated 2.67 percent, Indosat Ooredoo Hutchison rose 0.27 percent, Semen Indonesia skidded 1.15 percent, Indofood Sukses Makmur shed 0.67 percent, United Tractors dropped 0.87 percent, Astra International added 0.62 percent, Energi Mega Persada rallied 1.59 percent, Astra Agro Lestari jumped 1.71 percent, Aneka Tambang shed 0.47 percent, Timah soared 3.52 percent, Bumi Resources tumbled 1.87 percent and Vale Indonesia and Indocement were unchanged.

The Hong Kong stock market has moved lower in two of three trading days since the end of the three-day winning streak in which it had jumped more than 1,000 points or 4.5 percent. The Hang Seng Index now sits just above the 21,970-point plateau and it may tick slightly higher on Tuesday. The global forecast for the Asian markets is mixed with a touch of upside amidst a lack of catalysts. The European markets were up slightly and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.