Sunday, July 25

Bank earnings

Bank earnings, Bank of America, Bitcoin, Citigroup, crypto, Earnings, Federa reserve, gold, inflation, Jerome Powel, Markets, MI Exclusive, Oil

US stocks rise as Fed Chair Powell says the US economic recovery still has further to run before tapering

Deutsche Bank said retail investors have been key players in the stock market rally Johannes Eisele/Getty Images US stocks rose Wednesday on comments from Fed chief Jerome Powell that the US recovery still has further to go before the central bank changes course. Bank earnings continued, with Bank of America and Citigroup reporting second-quarter results. Bitcoin and oil slipped, while gold prices rose. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stocks moved higher on Tuesday after Federal Reserve Chairman Jerome Powell said the US economic recovery still has further to go before the central bank considers tapering its asset purchases.Powell said the US job market "is still a ways off" from the progress the Fed hopes to achieve, suggesting it w...
Bank earnings, Dow, Earnings season, Markets, MI Exclusive, NASDAQ, s&p 500, Stock market wrap

US stocks slump as investors digest inflation data showing prices surged in June

Xinhua/Wang Ying/Getty Images US stocks fell Tuesday after inflation data showed prices rose more than expected in June.The Consumer Price Index increased 0.9% in June, far higher than Bloomberg's consensus estimate among economists of 0.5%. The reading marked the largest one-month change since June 2008.On a year-over-year basis, prices increased 5.4%, higher than economists' expectations for a 4.9% year-over-year increase. However, June 2020 was the lowest point for Core CPI during the pandemic shutdown, so year-over -year increases are expected. Here's where US indexes stood at the 4 pm ET close on Tuesday:Mike Lowengart, E*Trade Financial managing director of investment strategy, said that the real question on investors' minds after the CPI read is how long hot inflation numb...