Wall Street Today (S&P 500) (Nasdaq): Nasdaq underperforms despite CPI boost

This is what you need to know to trade today, Friday, January 13:

The stock market finally rallied on Thursday after the CPI caused notable confusion. The figure was in line with expectations and led to a complete lack of direction in the immediate aftermath. Inflation is going down, yes, but the market had already valued that theory enough. The as-estimated numbers didn’t really help either the bulls or the bears in that case.

Ultimately, yields stayed low, allowing risky assets to rise. However, moves were limited and the rate-sensitive Nasdaq underperformed the more defensive Dow, making it a poor outlook heading into earnings season. This earnings season begins next week and is likely to limit risk taking.

Overnight the Japanese yen weighed on the dollar again as the JGB yield broke above the new 0.5% band. Gold remains stable at $1,895, while the Dollar Index recovers to $102.50. Oil maintains portfolio values ​​of $78.63.

markets europeans: FTSE flat, Eurostoxx -0.1% and DAX -0.1%.

Futures Americans: Nasdaq -1%, Dow -0.7% and S&P -0.9%.

Featured Wall Street News

Bank of America data shows funds outflowing from US equities and funds flowing into EU and Japanese equities.

Also, the BoA data shows large inflows into investment grade bonds.

JPMorgan (JPM) get better profits.

BlackRock (BLK) get better profits.

Delta (DAL) it exceeds its forecasts, but its forecasts are weak.

Wells Fargo (WFC) It does not achieve results either above or below.

Bank of America (BAC) get better profits.

Citigroup (C) more or less in line, slightly higher earnings.

Reuters headlines

UnitedHealth Group Inc (UNH): The company reported quarterly profit that beat Wall Street estimates

Wells Fargo & Co (WFC): The bank reported a 50% decline in fourth-quarter profit as it paid regulatory penalties and hoarded money to prepare for nonperforming loans against the backdrop of a weaker economy.

Bank of America Corp (BAC): The bank reported better-than-expected profit in the fourth quarter as higher rates helped it charge more interest on loans to customers.

JPMorgan Chase & Co (JPM): The bank reported a 6% increase in fourth-quarter profit as better-than-expected results from bank traders more than offset the trading slump.

Boeing Co (BA): A Boeing 737 MAX on Friday made its first passenger flight in China in nearly four years.

Lending Club Corp (LC): Company that has laid off 14% of its workforce.

Southwest Airlines Co (LUV): The company is looking at all options to ensure there is no repeat of the operational collapse it suffered last month, Chief Executive Bob Jordan said on Thursday.

Tesla Inc (TSLA): The company has lowered the prices of its electric vehicles in the United States and Europe by up to 20%, extending an aggressive discount strategy after missing Wall Street estimates for 2022 deliveries.

Ups and downs

improvements

Friday, January 13, 2023

downs

Friday, January 13, 2023

Source: WSJ.com