market update

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.

U.S. Stocks Fall Ahead of Earnings With Strong Dollar Adding to a List of Worries

Jul 11, 2022

Barry Adams

The S&P 500 index closed down 1% and the Nasdaq fell 2% as focus shifts to earnings ahead. Dollar strength adds to a growing list of worries as investors look for clues of the future path of earnings.

Asian Markets Drop, LDP In Japan Won Super Majority to Revise Constitution

Jul 11, 2022

Arjun Pandit

Asian Markets closed down but the indexes in Japan gained more than 1% after the Bank of Japan revised higher its economic assessment for seven of the nine country's regions. The ruling Liberal Democratic Party won enough seats to revise its pacifist constitution.

S&P 500 Drops 1%, Nasdaq Down 2% On Inflation and Earnings Jitters

Jul 11, 2022

Barry Adams

Stocks traded lower on Monday ahead of earnings from banks later in the week and inflation report on Wednesday. European markets dropped on the worries of natural gas supply in two weeks.