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Three of the Big Four banks — JPMorgan (JPC), Citigroup (C), and Wells Fargo (WFC) — beat their third-quarter earnings expectation, however, now they are worried about the next challenge on the horizon: new capital requirements. Executives of the big banks are worried these requirements will impede future lending and hurt the economy.

Rep. Jim Jordan (R-OH) won the GOP nomination for Speaker of the House. He was next in line after previous nominee Rep. Steve Scalise (R-LA) withdrew, but Jordan may not have all 217 House votes needed to win the Speakership.

The United Auto Workers (UAW) union announced a major shift in striking tactics. Union President Shawn Fain stated going forward, the UAW will give little notice to when strikes will occur. This is in an effort to put more pressure on the Big Three Auto Makers — Ford (F), General Motors (GM), and Stellantis (STLA).

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