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UBS Reports Weak Performance Across All Divisions

Jul 26, 2022
Scott Peters
UBS AG said revenues in the second quarter were nearly flat and earnings rose 5% driven by a one-time asset sale in Japan.

UBS

Nasdaq and S&P 500 Down 1% On Rate Jitters

Jul 26, 2022
Barry Adams
Rate jitters dragged benchmark indexes lower ahead of Fed's decision tomorrow. European markets declined on the natural gas supply uncertainties. Natural gas prices soared to the levels last seen in 2008.

WMT GE MMM GM SHOP

EU States Agrees to Cut Gas Consumption, UBS Drops 10%

Jul 26, 2022
Bridgette Randall
European markets traded lower and the EU member nations agreed to cut down natural gas consumption by 15% in the next eight months as Russia throttles supplies through the Nord Stream pipeline network.

Asian Indexes Slip In Cautious Trading, South Korea's GDP Expands

Jul 26, 2022
Arjun Pandit
Asian markets traded mixed as Chinese authorities prepare to set up a bailout fund and revive select real estate projects.

Walmart Lowered Profit Outlook, Inflation Affects Consumer Spending Pattern

Jul 25, 2022
Scott Peters
Walmart lowered its second quarter and full-year earnings outlook. Higher food and fuel prices are affecting consumer spending, requiring more price cuts on apparel and other goods. Strong dollar is impacting international sales.

WMT

U.S. Stocks Waver Ahead of Rate Decision and GDP Data

Jul 25, 2022
Barry Adams
U.S. benchmark indexes lacked direction ahead of the release of GDP data and Fed's interest rate hike later in the week.

NEM PHG WWE

Tech Weakness Drags U.S. Stocks Lowe, European and Asian Markets Gain

Jul 22, 2022
Barry Adams
Tech companies relying on advertising fell after Snap and Twitter reported weak advertising revenues. European markets gained despite deepening slowdown in the private sector. Earnings optimism drives Asian markets higher.



U.S. Movers: American Express, Boston Beer, Intuitive Surgical, Schlumberger, Seagate, Snap, Twitter

Jul 22, 2022
Barry Adams
American Express advanced on higher spending by card members. Boston Beer lowered its annual outlook. Schlumberger lifted annual outlook. Seagate Technology fell on weaker-than-expected results and outlook.

AXP SAM SLB STX SNAP TWTR ISRG

Tech Rally On Hold After Weak Results from Twitter and Snap

Jul 22, 2022
Barry Adams
The Nasdaq and the S&P 500 index halted weekly advanced after Snap reported wider quarterly loss and slower advertising revenues.

D.R. Horton Sales Rise 21%, Guides Weaker Quarter On Cooling Demand

Jul 21, 2022
Scott Peters
The largest home builder D.R. Horton guided weaker sales outlook after home demand began to ease since June and cancellation rates rose.

DHI

Tech Powered Rally On Wall Street

Jul 21, 2022
Barry Adams
Benchmark indexes closed higher after tech stocks gained. Initial claims of jobless benefits rose and crude oil and natural gas prices eased.

American Airlines Reports Record Revenues and Emphasizes Debt Repayment

Jul 21, 2022
Scott Peters
American Airlines flew more than 53 million passengers in the second quarter and reported record second quarter revenues.

AAL

European Markets Waver After Larger Rate Hike and Italian Political Turmoil

Jul 21, 2022
Bridgette Randall
European markets wavered after the ECB lifted rates by 50 basis points, the first rate increase in eleven years. Russia resumed natural gas flow easing pressures in the energy markets. Italy is likely to head for a general election as early as September.

Recession Worries Resurface After Latest Earnings

Jul 21, 2022
Barry Adams
U.S. stocks lacked direction and popular indexes traded near six-week high. The European Central Bank lifted rates for the first time in 11 years but also showed preparedness to fight bond market stress and Japan left its rates unchanged.



Tesla Net Income Doubles On 42% Rise In Sales

Jul 20, 2022
Scott Peters
Tesla sales and earnings surged despite supply challenges and extended shutdowns in China.

TSLA