Ongoing reporting from the world’s leading markets: important updates, prominent stocks, bonds and analyst updates
23:00 – Leading Wall Street indices closed tonight with a mixed trend: Nasdaq up 0.6%, Dow Jones down 0.5%, S&P 500 up 0.1%. Highlights in trading today: JPMorgan Chase falling 6.2% after a disappointing forecast, Wells Fargo strengthened by 3.7%, Goldman Sachs weakened by 2.5%, Microsoft rose by 1.8%. , NASDAQ reduced its value by 0.3%.
21:35 – The price of WTI oil rose today by 2.1% ($ 1.7) to $ 83.8 a barrel. In a weekly summary, the price of oil rose by 6.2%.
20:40 – Gold was up 0.3% ($ 4.90) today at $ 1,816.50 an ounce, amid a sharp 10-year rise in 10-year US bond yields alongside a more moderate rise in the dollar. In a weekly summary, the value of the precious metal climbed by 1.1%.
18:55 – European stock markets closed down: the German DAX was down 0.9%, the British Potsy was down 0.3% and the French Coke was down 0.8%. In a weekly summary – the Frankfurt Stock Exchange was down 0.4%, London was up 0.8% and Paris was down 1.1%.
17:55 – Technology stocks moderate negative sentiment on Wall Street, especially on NASDAQ where Chinese and chips are traded: Pindudo up 4.4%, JD.com up 1.3%, Applied up 1.8%, Qualcomm up 1.7%, AMD up 1.6% And anabidia by 1.2%.
17:00 – The University of Michigan’s Consumer Confidence Index (edited by a survey of 500 consumers who assess the situation in the economy) has fallen to 68.8 points this month from 70.6 points in December. The market expectation was for a slight drop to 70 points. This is his second low level in a decade, after the fall of November 2021 to 64.7 points.
16:30 – The Dow Jones is leading the declines in the opening after JPMorgan Chase reports: the index has been cut by 1%, the S&P 500 is down 0.5% and the Nasdaq is down 0.1%.
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The largest U.S. bank by Morgan Chase market value falls 6 percent after the quarter’s results (which were actually a pleasant surprise). But CFO Jeremy Barnum warned that the bank is likely to miss its profit targets for the next two years. The bank’s stock is also dragging down other financial stocks in the Dow Jones – Goldman Sachs cut 3%, American Express erasing 4%.
Even after the reports – Citigroup, which is not traded in the Dow Jones, was cut by 3.5%. Wells Fargo actually records a 2.5% increase. Blackrock, also after the reports, is down 1.5%.
15:30 – U.S. retail sales fell 1.9 percent in December on a monthly basis compared to November, well below forecasts of a 0.1 percent drop in sales. In November, the index rose 0.2 percent. This is the largest monthly decline in 10 months.
In the background, the widespread spread of the omicron and inflation strain and an inflationary peak of 40 years, as indicated by the consumer price index published this week.
At the same time, this is an increase of 16.95% last year in retail sales. The core index (excluding food and energy products, which are considered to be more volatile) fell by 2.3% in December on a monthly basis, compared with an expected increase of 0.2%.
The export price index decreased by 1.8% on a monthly basis compared to the expected increase of 0.3%, the corresponding index of imports decreased by 0.2% against forecasts for an increase of 0.3% compared to November.
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Walmart Department Store Walmart Maryland USA
(Photo: AP)
15:10 – Citigroup: The bank’s revenue was $ 17 billion in the fourth quarter compared to market expectations of $ 16.75 billion. Net income fell 26% to $ 3.2 billion, but stood at $ 1.46 per share against forecasts of $ 1.38 per share.
Last year, the bank’s share fell by 2%, in contrast to the overall trend of large bank shares, which rose by an average of 37%. But this year the bank is climbing by 11% similar to the other big banks. In pre-trading today, the stock retreated 3.7%.
15:00 – Stock market highs at the end of the year soared the value of assets managed by Blackrock to a record $ 10 trillion, according to the fourth quarter reports of the world’s largest asset manager.
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Blackrock headquarters blackrock new york
(Photo: Shatterstock)
Commissions for the handling of assets increased along with values during the quarter, as noted as Wall Street recorded new highs at the end of the year.
More specifically, the value of assets BlackRock manages increased in the last quarter of 2021 to $ 10.1 trillion from $ 8.68 trillion in the fourth quarter of 2020.
Blackrock’s adjusted earnings for the quarter rose 2.5% to $ 1.61 billion or $ 10.42 per share from $ 1.57 billion or $ 10.18 per share for the same quarter in 2020.
The market expected adjusted earnings of $ 10.16 per share. Revenue jumped 14 percent to $ 5.1 billion.
14:25 – Wells Fargo Bank Reports: The bank reported an increase in profits in the fourth quarter of 2021, thanks in part to the sale of the asset management division and mutual funds for $ 943 million.
Net income rose to $ 5.8 billion or $ 1.38 per share, from $ 3.09 billion or 66 cents in the same quarter in 2020. Market forecasts were for a net profit of $ 1.13 per share. The bank’s share is up 2.6% in early trading in New York.
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Wells Fargo Bank New York Wells Fargo
(Screenshot: ABC)
13:55 – Slight movements in Wall Street indices: Dow Jones contracts are up 0.2%, S&P 500 is up 0.1% and NASDAQ is down 0.2%, after the index fell 2.5% last night. The US for 10 years rises by 3 basis points to 1.74%.
At 15:30 (Israel time) another inflation figure will be published (after the Consumer Price Index, which jumped to a 40-year high at an annual rate and the Manufacturer’s Price Index published yesterday) were published this week – US retail sales for December.
According to market forecasts, the index is expected to fall by 0.1% to November – from 0.3% in November. The export price index is expected to climb to 0.3% from 0.1%, and imports are expected to fall to 0.3% from 0.7%.
After the weekly closing tonight, trading in New York will return on Tuesday – Monday marks Martin Luther King Day.
More on the topic, Fourth Quarter Reports of 2021 in Banks: The first major bank to publish its results, JPMorgan Chase, is also the largest U.S. bank by market capitalization.
Morgan Chase topped forecasts, revenue was $ 30.35 billion compared to expectations of $ 29.9 billion. Net income was $ 3.33 per share against forecasts of $ 3.01 per share. At the same time, the bank’s share is pre-traded at 3%.
Immediately Wells Fargo and City results.
11:40 – The German economy grew in 2021 at a rate of 2.47% after another year characterized by corona restrictions and supply chain disruptions, according to a report on the CNBC website. Last year’s growth comes after 2020 – the year in which the corona erupted and in which closures and social restrictions were imposed – Europe’s largest economy contracted by 4.6%.
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Olaf Schultz, Chancellor of Germany
(Photo: Bloomberg)
“Despite the ongoing epidemic, more bottlenecks in shipments and shortages, the German economy was able to recover from the sharp contraction last year, but economic performance has not yet returned to pre-epidemic levels,” responded Georg Tyle, president of the Central Bureau of Statistics in Germany.
According to published data, the German growth rate in 2021 was 2% lower than in 2019, so the economy has not yet returned to pre-Corona levels. The corona also continues to affect future performance, which is characterized by uncertainty.
Germany also reported an increase in the financial deficit. According to the Bureau of Statistics, the deficit at the end of the year was 153.9 billion euros, compared to a deficit of 145.2 billion euros a year earlier.
The regional Stokes 600 index weakened 0.8%, leading the losing 1.3% of infrastructure and retail sectors.
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Frankfurt Stock Exchange
(Photo: Bloomberg)
Another factor that investors’ eyes are looking at is the growing tension between Russia and the NATO alliance against the background of fears that the power is preparing to invade Ukraine, while at the same time talks between the parties are stalled.
09:00 – Nikkei in Japan closed down 1.3%, Kospi up 1.4%, the Sydney Stock Exchange down 1% and Taiwan down 0.2%.
08:40 – And in the commodities segment: gold rose 0.3% to $ 1,826 an ounce, and oil weakened slightly 0.1% to $ 82 a barrel.
Against the background of trading, we can note the increase in interest rates by the Central Bank of South Korea – by 25 basis points to 1.25%.
Shares of United Overseas Bank of Singapore are up more than 1% after it was announced that City would sell its retail divisions to it in four Asian countries – Indonesia, Malaysia, Thailand and Vietnam.
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Shanghai Stock Exchange
(Bloomberg)
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