JPMorgan, Jobless Claims and US Equity Markets
By mid-afternoon trading, US equity markets had relinquished earlier gains coming on the back of JPMorgan’s better-than-expected quarterly results and a sharp drop in jobless claims data, as CIT bankruptcy speculation tempered sentiment.
JPMorgan Chase, one of the largest US banks, unveiled that its second-quarter net profit jumped 36% from a year ago to $2.7 billion, [...]
FTSE 100 Spread Betting Market Up Nearly 2%
The FTSE 100 reached 4315.32 at 3.30pm, 1.83% higher than where it started the morning. The main contributor has been the mining sector, with Xstrata, Kazakhmys and Fresnillo all among the day’s leaders, gaining 7.06%, 6.01% and 5.72% respectively.
The recent success seen in this sector was spurred by yesterday’s data out of China, showing metal [...]
US Financial and Consumer Stocks Weigh on the Markets
US equity markets kicked off the trading session in negative territory today despite the release of better-than-expected second-quarter earnings results from Goldman Sachs.
The company reported a record second-quarter net income of $3.44 billion, equivalent to earnings of $4.93 per share, surpassing Bloomberg’s average analyst estimate of $3.65 a share by 35% and Meredith Whitney’s [...]
Markets Upbeat on Goldman Sachs Banking Shares
There was a sudden turn in equity market sentiment today after an upbeat broker report on Goldman Sachs temporarily cured the second-quarter earnings jitters, helping Wall Street open higher today.
Meredith Whitney, a reputable US banking analyst who left Oppenheimer & Co to open Meredith Whitney Advisory Group, brightened the mood on equity markets today [...]
US Equity Markets Move Lower
US equity markets opened lower today after Chevron’s quarterly outlook left investors feeling uneasy about the upcoming earnings season.
Oil majors were weighing on Wall Street after Chevron Corp, a Dow Component, provided investors with a downbeat interim quarterly update last night, saying that its second-quarter earnings were hit by a sharp decline in US oil [...]
Spread Betting and US Equities in Positive Territory
US equities opened in positive territory this afternoon, after Alcoa’s better-than-expected quarterly results left investors feeling more optimistic about the second-quarter earnings season.
News of China’s 48% surge in June vehicle sales and encouraging US initial jobless claims data contributed to the optimism seen in commodity and equity markets today.
A report released this afternoon revealed that [...]
US Indices Up and Crude Oil Down
Wall Street opened higher this afternoon, ahead of the start of the earnings season in the US, and after the International Monetary Fund (IMF) said the global economy is likely to expand by 2.5% next year – up 0.6% from the 1.9% growth rate estimated in April this year.
Earlier today, a report by the IMF [...]
Markets Concerned at Current Equity Valuations
US equity markets commenced today’s trading session in negative territory, as investors continued to sell equities ahead of the upcoming second-quarter earnings kick-off.
Today’s market reaction acknowledges that investors fear that current equity market valuations may be a bit too stretched relative to their second-quarter expectations. This uncertainty is negative for the market and, perhaps, [...]
US Equity Markets Lower on Slow Recovery Fears
US equity markets opened lower today, as investors feared that the global economy would recover at a much slower pace than anticipated.
‘The reassessment of the global economic outlook is likely to continue this week,’ a team of strategists at Citigroup wrote today. ‘As a result, an extension of the recent bout of risk aversion [...]
Financial Markets and Crude Oil Update
Although US equity markets are today closed for Independence Day holiday, some interesting news pertinent to Wall Street has been released.
Unidentified sources have told Bloomberg News that JPMorgan Chase has hired one of Merrill Lynch’s top merger & acquisitions advisors in Japan to boost its merger advisory and equity underwriting business in the region, which [...]