1. Bank earnings galore: Citigroup, JPMorgan Chase and Wells Fargo will report first quarter earnings on Thursday. Banking stocks soared following the election of President Trump, but they began to lose momentum in March.
|
 |
| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | -50.00 | | -11.50 | | -7.25 | | -0.24% | | -0.21% | | -0.31% | | | |
| |
| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -125.77 | | +2.13 | | -40.80 | | 18,426.84 | | 3,275.96 | | 7,308.19 | | -0.68% | | +0.07% | | -0.56% | | | |
| |
| Key Stats | Latest | Today's Change | | | Oil | $53.09 | -0.02 / -0.04% | | | Gold | $1,289.40 | +11.30 / +0.88% | | | 10-yr | 2.30% | -0.00 / -0.09% | | | Euro | $1.06 | -0.00 / -0.20% | | | |
| |
| |
| |
| News: What you need to know about the markets | | | | | | | Bank earnings; U.S. dollar slips; China trade booms | By Ivana Kottasova
Thursday, April 13th, 4:51am | | | | 1. Bank earnings galore: Citigroup, JPMorgan Chase and Wells Fargo will report first quarter earnings on Thursday. | | | | Banking stocks soared following the election of President Trump, but they began to lose momentum in March. | | | | Still, analysts say banks should be in line to benefit from rising interest rates. | | | | Last week, JPMorgan CEO Jamie Dimon struck an optimistic note in his annual letter to shareholders, bragging about his bank's monster balance sheet. | | | | Wells Fargo, meanwhile, is still feeling the effects of its fake accounts debacle. The $110 million settlement with wronged customers agreed in March might help it move beyond the scandal. | | | | 2. China trade grows: China posted stunning growth in trade last month, beating analyst expectations by a mile. | | | | "The latest trade data point to buoyant external demand but suggest that domestic demand may have started to cool," said Julian Evans-Pritchard, China economist at Capital Economics. | | | | Exports grew 22% in yuan terms over the previous year in March. Imports also grew by 26%, but that was actually slower than the 34% average increase posted in January and February. | | | | 3. OPEC keeps cutting: New data from the International Energy Agency show that OPEC countries are sticking with an agreement reached with other producers aimed at cutting production. | | | | The oil cartel is now working on a proposal to extend the production cuts beyond June. | | | | "At half time in the six-month deal, OPEC achieved an average 99% of its target after Saudi Arabia -- along with Kuwait, Qatar and Angola -- cut by more than agreed," the agency, which monitors energy trends for the world's richest countries, said in its report. | | | | Oil dropped 0.4% to just below $53 per barrel. | | | | 4. Global market overview: U.S. stock futures were lower Thursday ahead of the long weekend. U.S. markets are closed Friday. | | | | The dollar and U.S. Treasury yields dropped Wednesday after President Trump told the Wall Street Journal that the dollar was "getting too strong." The dollar continued to fall early Thursday. | | | | European markets opened lower, while Asian markets ended the session mixed. | | | | The Japanese yen and gold, seen as safe haven assets by investors, both strengthened. | | | | The Dow Jones industrial average closed 0.3% lower on Wednesday, while the S&P 500 shed 0.4% and the Nasdaq declined 0.5%. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Economics: Initial U.S. jobless claims for the week of April 8 will be reported at 7:30 a.m. ET. | | | | The Bureau of Labor Statistics is set to release its producer price index reports for March at 8:30 a.m. ET. | | | | The University of Michigan will release its consumer sentiment data for April at 9 a.m. ET. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | Thursday -- JPMorgan, Wells Fargo and Citigroup release first quarter earnings
Friday -- New York International Auto Show kicks off | | | | | | | |
| |
Hi, let us know what you
think of this newsletter! | | | Tell us what you want to read more of... and less of.
Email your tips and feedback to BeforeTheBellFeedback@cnn.com | | |
| |
| |
| |
| | Tips, thoughts or questions are always welcome at
BeforeTheBellFeedback@cnn.com. | | | ® © 2017 Cable News Network Inc.
A Time Warner Company. All Rights Reserved.
You are receiving this message because you subscribed to
CNNMoney's "Before The Bell" newsletter.
Our Mailing address is:
Cable News Network, Inc.
Attention: Privacy Policy Coordinator
One CNN Center, 13 North
Atlanta, GA 30303 | | | | |
No comments:
Post a Comment