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S&P 500 Closes at 5-week High, Rapid Decline in Housing Market

Jul 20, 2022
Barry Adams
The S&P 500 and the Nasdaq indexes closed at five-week highs as the earnings season gathers pace. Existing home sales declined in June and mortgage applications plunged as more buyers are priced out.

Movers: Baker Hughes, Bath & Body Works, Nasdaq, Netflix, Tesla

Jul 20, 2022
Barry Adams
After the close, Tesla reported 42% rise in sales and quarterly earnings jumped 98%. Bath & Body Works trimmed second quarter and annual outlook. Netflix quarterly subscriber loss slowed.

NFLX TSLA NDAQ BBWI

European Markets Fall, Draghi Survives Confidence Vote but Coalition Breaks

Jul 20, 2022
Bridgette Randall
European markets lost early momentum after Italian Prime Minister won the confidence vote in Senate but three parties boycotted the election.

Nasdaq Jumps 1%, Netflix Soars 7%

Jul 20, 2022
Barry Adams
The S&P 500 and the Nasdaq Composite index advanced and investors digest fresh batch of earnings. Mortgage demand fell to the lowest levels seen in 22 years.

Wall Street Rally Gathers Momentum After Fresh Batch of Earnings

Jul 19, 2022
Barry Adams
U.S. stocks accelerated on Wall Street after the latest batch of earnings bolstered optimism. The strong dollar is negatively impacting revenues growth and the rising costs are trimming earnings.

European Markets Rebound to Close Up 2%

Jul 19, 2022
Bridgette Randall
Market indexes across the eurozone rebounded following the advance in the U.S. amid mixed economic reports in the region.

China's Cash Crisis Prompts Central Bank Action

Jul 19, 2022
Arjun Pandit
The People's Bank of China injected more liquidity and to prevent the growing cash crisis from developing into a crisis of confidence in the banking system. Mortgage boycotts are widening at a rapid pace as real estate developers struggle in completing residential home projects.



IBM Revenue Growth Hit by Strong Dollar

Jul 18, 2022
Scott Peters
IBM said second quarter sales rose 9% and earnings surged despite the headwinds from a strong dollar.

IBM

Morning Rally Turns Afternoon Losses On Wall Street

Jul 18, 2022
Barry Adams
Stocks turned lower after rallying in the morning on the back of earnings from Goldman Sachs and Bank of America. After the close, IBM cited headwinds from strong dollar in its full-year guidance.

Bank of America Revenues Rise on Strong Consumer, Profit Falls On Weak Business Deals

Jul 18, 2022
Scott Peters
Strength in consumer banking lifted bank's revenues but profit fell on weak merger and business deal environment.

BAC

Movers: Bank of America, Boeing, Coinbase, Delta, Goldman Sachs, IBM

Jul 18, 2022
Barry Adams
Goldman Sachs earnings took a hit after deal volumes fell. Bank of America benefited from the rising rate environment. Delta placed a 100 MAX jets order with Boeing.

BAC COIN GS BA DAL IBM

U.S. Stocks Advance Ahead of Busy Week of Earnings, Goldman Sachs and Bank of America Rise

Jul 18, 2022
Barry Adams
Stocks on Wall Street advanced after Goldman Sachs and Bank of America reported better than expected quarterly results. At least 135 companies are scheduled to release earnings this week.

BAC GS BA

European Markets Advance and Look Beyond Rate Hike This Week

Jul 18, 2022
Bridgette Randall
European markets advance following the market surge in New York. Investors are looking beyond the possible 25 basis points rate hike this week.

S&P 500 Rebounds 2%, Banks Advance

Jul 15, 2022
Barry Adams
Benchmark indexes advanced after a rise in retail sales despite the inflation surge lifted spirits on Wall Street. Better than expected earnings at banks contributed to the day's advance.



Citigroup Revenues Rise On Fixed Income Trading Revenues

Jul 15, 2022
Scott Peters
Citigroup revenues in the second quarter rose on higher trading revenues offset by a drop in investment banking fees.

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