5 things to know before the stock market opens Friday – CNBC

Shares of JPMorgan fell about 2%, taking a breather from their current strong run-up. Shares of Citigroup dropped more than 1% after the bank fell short of quotes on fourth-quarter profits of $16.5 billion. Per-share earnings of $2.08 beat expectations– and like JPMorgan, it was assisted by the release of some loan loss reserves.Wells Fargo shares sank over 4% after the bank reported lower-than-expected earnings of $17.93 billion. Getty ImagesRetail sales for December fell 0.7% compared to flat expectations as restored procedures to slow the spread of Covid-19 undercut costs at dining establishments and decreased traffic to shopping malls. Data for November was revised down to show sales declining 1.4% rather of 1.1% as formerly reported.

Here are the most essential news, patterns and analysis that financiers need to start their trading day:1. Dow set to move after bank incomes, Biden stimulus planTraders on the flooring of the New York Stock Exchange.Source: New York Stock ExchangeDow futures pointed to an over 100 point loss at Fridays open, with Dow-stock JPMorgan Chase down in spite of reporting better-than-expected quarterly incomes and profits. Investors were also studying President-elect Joe Bidens $1.9 trillion coronavirus stimulus plan revealed after Thursdays market close.The Dow Jones Industrial Average fell 68 points Thursday in a continuation of soft market moves today, primarily to the downside, as Wall Street also faced the 2nd impeachment of President Donald Trump and the fallout from last weeks riot at the U.S. Capitol. The Dow, S&P 500 and Nasdaq remained less than 1% away from the record highs. The stock exchange is closed Monday in observance of Martin Luther King Day.2. JPMorgan starts a flood of bank earningsThe JP Morgan Chase & & Co. head office, The JP Morgan Chase Tower in Park Avenue, Midtown, Manhattan, New York.Tim Clayton – Corbis

Leave a Reply

Your email address will not be published. Required fields are marked *