Wall Street Banks Report Strong First Half as Higher Rates Loom
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Wall Street banks had a great first half of the year.
They made a lot of money. This is called a boom.
Stock trading helped the banks earn a lot. One bank is Goldman Sachs.
Goldman Sachs may lead other banks in stock trading money this year.
Experts say trading made about $19 billion for big banks.
Now, interest rates are going up. This could be a problem.
Higher rates can make it harder for banks to keep growing.
Bank earnings reports will show if the boom continues.
Chipmakers, companies that make computer chips, will also report results soon.
People want to know if banks can stay strong.
This week, many big companies will share their earnings.
Everyone is watching to see what happens next.
Vocabulary5 words
- boom
- a time when business does very well
- rates
- the cost of borrowing money
- earnings
- money a company makes
- chipmakers
- companies that make small computer parts
- stock trading
- buying and selling parts of companies
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Quiz
Answer key
1. Very good 2. Stock trading 3. Higher interest rates
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Wall Street banks had a great _____ of the year.
They made a lot of money. This is called a _____.
_____ trading helped the banks earn a lot. One bank is Goldman Sachs.
Goldman Sachs may lead other banks in stock trading money this _____.
Experts say trading made about $19 _____ for big banks.
Now, interest _____ are going up. This could be a problem.
Higher rates can make it harder for banks to keep _____.
Bank _____ reports will show if the boom continues.
_____, companies that make computer chips, will also report results soon.
This week, many big companies will share their _____.
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