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Bank of New York Assets Under Management Fell 17%

Jul 15, 2022
Scott Peters
Bank of New York revenues increased 7% and assets under custody and management declined in the second quarter.

BK

U.S. Stocks Gain After Retail Sales Rose 1% In June

Jul 15, 2022
Barry Adams
U.S. stocks popped after retail sales rose 1% in June despite the 4-decade high inflation. The resilient consumer spending lifted market mood.

Stocks Drop After Banks Report Weak Earnings

Jul 14, 2022
Barry Adams
Benchmark indexes declined in volatile trading after JPMorgan profit fell 28% and suspended stock buybacks. Morgan Stanley earnings dropped 29%. The wholesale price index surged in June.

Morgan Stanley Lifted Dividend, Launched New Stock Buyback Plan

Jul 14, 2022
Scott Peters
Morgan Stanley said June quarter revenues declined 11% and net income fell 29% and the financial services company lifted its dividend 10% and repurchased $2.7 billion of its own stock.

JPMorgan Net Falls 28%

Jul 14, 2022
Scott Peters
JPMorgan Chase said second quarter net income fell 28% and the largest bank increased bad loan reserves and temporarily suspended stock buybacks to preserve capital.

JPM

Faster Rate Hike Worries Markets After Wholesale Price Report

Jul 14, 2022
Barry Adams
Benchmark index dropped after the latest elevated wholesale inflation report stoked the fears of faster and larger rate hikes at the next Fed's meetings. JPMorgan fell after the largest bank said it has temporarily suspended stock buybacks.

MS JPM

European Markets Drop 2%, Eurozone Growth Estimate Lowered

Jul 14, 2022
Bridgette Randall
European market indexes dropped 2% and the euro dropped to a low last seen in 2002 on the fears of economic slowdown and faster increase in rates.



S&P 500 Trim Losses Despite Inflation Surge

Jul 13, 2022
Barry Adams
Benchmark indexes trimmed day's losses despite the surging inflation showing no sign of slowing down.

Stocks Sink After Inflation Accelerates In June

Jul 13, 2022
Barry Adams
U.S. stocks turned lower and bond yields increased after inflation in June accelerated to a 400-year high driven by a surge in the cost of gasoline, housing, and food.

U.S. Stocks Drop Ahead of Inflation Reports and Profit Squeeze Worries

Jul 12, 2022
Barry Adams
U.S. stocks, crude oil and bond yields fell on the worries that global economic slowdown is likely to be deeper and longer than previously anticipated.

European Markets Rebound from Morning Losses

Jul 12, 2022
Bridgette Randall
European markets closed higher after investors shifted focus to upcoming earnings with the backdrop of uncertain natural gas supply in the region. The euro maintained a downward trend and briefly traded at parity with the U.S. dollar.

Asian Markets Ease On Rising Coronavirus Infections In China

Jul 12, 2022
Arjun Pandit
Asian markets closed down on the growing worries of global economic slowdown and the surging dollar fueled the imported inflation.

PepsiCo Lifted Core Earnings Outlook, Sales Rise 5%

Jul 12, 2022
Scott Peters
PepsiCo reported June quarter sales rose 5% and net income fell 42% on rising input costs.

PEP

PriceSmart Earnings Down On Higher Markdowns

Jul 12, 2022
Scott Peters
PriceSmart revenues rose 15% but earnings plunged 15% after supply chain disruptions forced the retailer to discount discretionary items more than usual.

PSMT


Earnings Worries and Strong Dollar Keep S&P 500 and Nasdaq Down

Jul 12, 2022
Barry Adams
U.S. stocks traded sideways as the dollar extended gains against the worldwide currencies. Investors are dialing down the earnings growth expectations as corporations face macroeconomic headwinds and cost pressures.