Running out of time: The Small Business Administration, which provides low-interest loans to millions of disaster survivors, is set to run out of funding for hurricane victims within days, SBA Administrator Isabel Casillas Guzman told Congress late Thursday. The warning comes as officials are still assessing damages from both hurricanes Helene and Milton. Read more from The Washington Post.
Better than expected: Third-quarter results for America’s biggest bank topped estimates for profit and revenue as the company generated more interest income than expected. JPMorgan Chase says profit fell 2% from a year earlier to $12.9 billion, while revenue climbed 6% to $43.32 billion. Read more from CNBC.
Sentiment dropping: U.S. consumer sentiment unexpectedly fell for the first time in three months as lingering frustration with a high cost of living offset more sanguine views of the job market. The preliminary October sentiment index declined to 68.9 from 70.1 in September, according to the University of Michigan. The median estimate in a Bloomberg survey of economists called for a reading of 71. Read more from Bloomberg. A subscription may be required.
