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US bank results and producer prices shake Wall Street – Stock Exchange

US bank results and producer prices shake Wall Street – Stock Exchange

Wall Street traded between gains and losses and ended the session mixed with investors’ assessment of the 2023 results of the largest banks in the United States, as well as the producer price index in the United States.

Major indices on Wall Street closed Trade without a specific trend On Friday, leaving behind a warm, sedentary session. Investors focused on Results of the largest banks in North America Who among us? US producer price figures Which showed a slowdown in December.

US Producer Price Index for December Show 1% acceleration Annually. This number is compared with Economists expected an increase of 1.3%. Reuters heard it.

On a monthly basis, prices decreased by 0.1%. Slowing for three consecutive monthsIt is the longest series since 2020. Economists expected a movement of the same size, but an acceleration. In turn, Core producer prices remained unchanged Compared to November, but it accelerated by 1.8% compared to the same period last year.

Hey Dow Jones Decreased by 0.31% in 37,592.98 points. actually Standard & Poor's 500 reached 0.07% 4,783.83 points And technological Nasdaq Composite Up 0.02% advance 14,972.76 points. The three indicators were recorded during the week Earnings: The Dow Jones rose 0.87%, the S&P rose 1.47%, and the Nasdaq gained the most, rising 2.15%.

market Focused on Results of the largest banks in North America. Hey JP Morgan (-0.73%), American bank (-1.06%) and Wells Fargo (-3.34%) saw profits rise He was pressured to pay fees to the Federal Deposit Insurance Corporation (FDIC). – which works to guarantee bank deposits in the United States – within the scope of Collapses From Silicon Valley Bank and Signature Bank last year.

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Hey City (1.04%) until they scored a Loss in the fourth quarterWhile the substitutes, led by Jamie Diamond, shone after that Financial margin has broken a record.

On the other hand, BlackRock What It exceeded analysts' estimatesBoth in terms of profits and assets under management, it amounted to 0.88%. As the director announced Agreement to acquire a fund managerand Global Infrastructure Partners (GIP) for $12.5 billion.

“The banks are Well capitalizedbut they also go through some The consequences of having to deal with an inverted yield curve“Less activity in capital markets, perhaps less credit activity and still weathering the shocks of the pandemic,” Art Hogan, chief market strategist at BP Riley Wealth, told Reuters.

Among other market movements, Delta Air Lines shares fell by 8.97%, after… It revised down its 2024 earnings forecastHe justified this by high costs, supply chain problems, and economic uncertainty.

a TeslaIn turn, it declined 3.67% after recording Reducing the prices of some models in China She announced that she would Production at the Gigafactory in Berlin is suspended for two weeksThis is due to the lack of capabilities resulting from changes in sea routes as a result of attacks on ships in the Red Sea