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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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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.