The disconnect between healthy business performance and ailing share prices in 2022 will likely continue for megabanks through this year’s second-quarter earnings season, amid bear market conditions for stocks. Investors will likely be on the lookout for potential headwinds in loan growth and credit quality in the banking industry as JPMorgan Chase & Co. JPM,…
US stocks opened sharply lower on Thursday following the release of closelywatched inflation data, while Wall Street was headed for its worst first half of the year in more than 50 years. How are stock-index futures trading? The S&P 500 dropped 72 points, or 1.9%, to 3,746. Dow Jones Industrial Average fell 509 points, or…
Read More “Dow down more than 500 points as brutal first half comes to close” »
The Federal Reserve Board on Thursday projected the potential for a rockier road ahead for banks than it did a year ago, but said the 33 financial institutions it reviewed passed its annual stress test of capital reserves. The Fed estimated $ 612 billion in potential losses for banks in its most severe economic scenario,…
The Dow Jones Industrial Average won’t be trading on Monday when the new Juneteenth federal holiday is observed, because the stock market will be closed, and so will many of the Dow’s components. That’s a relatively quick turnaround for the New York Stock Exchange and Nasdaq exchange to close for Juneteenth, just one year after…
Read More “Here’s how some Dow industrials companies are observing the Juneteenth holiday” »
Far from the bustle of Wall Street, inside his downtown Minneapolis office, Tim Magnusson got his first aching gut feeling about US inflation in May of last year. That’s when US government data showed a 10% increase in used car and truck prices during the prior month, April of 2021. Magnusson, then a senior portfolio…
Read More “This big investor called inflation early and sees it above 7% at the end of the year” »
The US initial-public-offering market is staring down another slow week, with just one small deal on tap, capping a period of little to no activity as investors eye volatile secondary markets amid high inflation, supply-chain snags and a raging war in Europe. There were just seven IPOs in May that raised an aggregate $ 1.1…
Read More “Investors hoping to pounce on summer IPOs may be out of luck. Here’s why.” »
