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US stock markets closed positively, with the S&P 500 and Dow Jones reaching record highs, driven by strong bank earnings. Economic indicators showed flat producer prices and a drop in consumer sentiment, while upcoming retail sales data could influence market expectations of a soft landing. The Nasdaq and S&P 500 both secured five consecutive weeks of gains, with technical analysis suggesting potential upward targets if key support levels hold.
Big banks, including JPMorgan and Wells Fargo, are set to report Q3 earnings, with analysts optimistic about the impact of potential Federal Reserve rate cuts on loan growth and profitability. Stephen Biggar from Argus Research highlights that lower rates could ease deposit costs and improve loss provisions, benefiting the lending business. He identifies JPMorgan and Morgan Stanley as top stock picks for the upcoming earnings season.
Morgan Stanley
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us equity markets surge on strong bank earnings and retail sales outlook
United States Dollar
The Goldman Sachs Group, Inc.
Wells Fargo & Company
Bank of America Corporation
Morgan Stanley
Citigroup Inc.
JP Morgan Chase Bank Setr
Netflix, Inc.
USA
Wells Fargo
Bank of America
Morgan Stanley
JP Morgan
Goldman Sachs
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05:00 14.10.2024
big banks prepare for earnings season amid shifting interest rate landscape
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JPMorgan Chase & Co.
Wells Fargo & Company
Morgan Stanley
The Bank of New York Mellon Corporation
USA
Morgan Stanley
JPMorgan
Seana Smith
Stephen Biggar
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09:00 07.10.2024
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