Investing.com – Here are the top 5 things you need to know about the financial markets on Friday, January 13:
1.Dollarfell to a seven-month low,beautifulthe fedThe anticipation of the shift is growing stronger
Falling to a seven-month low, U.S. bond yields stabilized after a sharp drop on Thursday (12th).
The further slide earlier had reinforced expectations that the Fed would end raising interest rates soon, and even boosted hopes that the central bank would cut rates for the first time in the second half of the year.
However, the decline in US CPI was mainly due to a 9% drop in gasoline prices, and gasoline prices are prone to rebound, but analysts still unanimously expect that the data has proved that inflation has peaked.
Later, investors need to pay attention to further confirm the aforementioned views.
2.Wall Street’s major banks released intensive financial reports, JPMorgan Chase and Bank of America’s stock prices fell by about3%
Wall Street’s major banks kicked off the fourth-quarter financial reporting period today, but failed to surprise the market. Both Wells Fargo and Citigroup always have something unsatisfactory. At the same time, JPMorgan Chase warned that the economy may be in a mild recession.
JPMorgan (NYSE: ) fell 2.95% despite better-than-expected revenue earnings. JPMorgan Chase’s revenue in the fourth quarter of last year increased by 18% year-on-year to US$34.55 billion, which was better than the expected US$24.333 billion; earnings per share were US$3.57, which was better than the expected US$3.06, thanks to the strong performance of the trading department. Still, JPMorgan expects a mild recession and has set aside $1.4 billion in reserves.
Bank of America (NYSE: ) fell 2.99%, despite better-than-expected revenue earnings. Fourth-quarter revenue of $24.5 billion beat estimates of $24.2 billion and was up 11% year-over-year. Profit was steady at $7.1 billion, or 85 cents a share, up slightly from $7 billion last year. Earnings per share also topped analysts’ estimate of $0.77.
Wells Fargo (NYSE: ) fell 4.20%. , although quarterly profit beat expectations, but revenue fell short of Wall Street expectations. Wells Fargo reported fourth-quarter revenue of $19.7 billion and earnings of 67 cents a share, compared with analysts’ forecast of 60 cents a share on revenue of $20 billion.
Citigroup (NYSE: ) fell 3.44%, Citigroup’s fourth-quarter earnings per share fell short of expectations, despite better-than-expected revenue. Citigroup’s Q4 earnings per share were $1.16, expected to be $1.17; revenue of $18 billion, expected to be $178.97.
BlackRock (NYSE: ) fell 0.53% after fourth-quarter profit fell 18%, ending the quarter with assets under management of $8.59 trillion, down from just over $10 trillion a year earlier but up from $7.96 trillion in the third quarter Dollar.
Delta Air Lines (NYSE: ) fell 5.30% after fourth-quarter earnings topped expectations as demand for air travel remained strong, despite disappointing first-quarter guidance.
3.United StatesStock futures fellTesla’s global price cut
U.S. stock futures fell pre-market, with Dow futures down more than 200 points, dragged down by bank stocks.
Investing.com’s U.S. stock quotes show that as of 21:11 Beijing time (08:11 a.m. Eastern Time), blue-chip stocks fell 256 points, or 0.75%, down 36.3 points, or about 0.91%, to Technology stocks mainly fell 120.0 points, or 1.05%. Still, major U.S. stock indexes are up slightly so far this week.
Meanwhile, Tesla (NASDAQ: ) fell more than 5%. Following the big price cut in China, Tesla lowered the price of Model 3/Y in many European countries, including Germany, France, Spain, Portugal, Germany, the Netherlands, the United Kingdom, and Norway, with price cuts ranging from 1% to 20%. Tesla has also lowered its U.S. prices, with the biggest drop being the base Model Y, which fell by 20%.
Tesla’s price cut also dragged down European automakers Mercedes (ETR:), Volkswagen (ETR:) and Stellantis (EPA:) (NYSE: ).
4.beautifulcountrySecurities Regulatory Commissionchargecryptocurrency companyGeminiandGenesis
The U.S. Securities and Exchange Commission (SEC) accused cryptocurrency companies Genesis and Gemini of illegally providing securities to U.S. customers, following the collapse of FTX, another heavy blow to the cryptocurrency industry.
However, the SEC’s move was also expected, but it made it more difficult for Genesis to resume customer withdrawals. Genesis previously suspended customer withdrawals after the FTX crash and the Terra/Luna crash.
In addition, Nexo, a cryptocurrency platform based in Bulgaria, was raided by the local government for allegedly facilitating money laundering.
5.oil pricecreate10sky high,lower dollar
Crude oil prices hit a 10-day high as the dollar weakened. U.S. monetary policy is expected to become looser, boosting the global economy. In addition, data released earlier today showed that China’s imports and exports fell less than expected in December, showing that the economy is not as severe as feared.
As of 21:11 Beijing time (08:11 a.m. Eastern Time), Investing.com Commodity Markets showed: up 0.18% to $78.55/barrel; up 0.08% to $84.10/barrel.
[This article is from Yingwei Caiqing Investing.com, to read more, please log in to cn.investing.com or download Yingwei Caiqing App]
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Compiler: Liu Chuan