Stock market news February 4 2020

0 0

Stock investing February 5, 2020

Stock market news

US stocks continued their rebound moving higher. A stock market rally led all major stock market indexes higher.Nasdaq made a new record close. This is the stock market update at close on Tuesday, February 4, 2020:

How stock market closed on Tuesday, February 4, 2020-Financial and business news

S&P 500: 3,297.59,+48.67(+1.50%)
Dow 30: 28,807.63,+407.82(+1.44%)
Nasdaq: 9,467.97,+194.57(+2.10%)
Russell 2000: 1,656.77,+24.56(+1.50%)

Stocks biggest gainers

Evoqua Water Technologies Corp. (AQUA) was among stocks biggest gainers cl0sing at 24.01+3.47 (+16.89%).

AQUA daily stock chart | stocks | stock market

Stocks biggest losers

Micro Focus International plc (MFGP) was among stocks biggest losers closing at 10.02-2.67 (-21.04%).

MFGP daily stock chart | stocks | stock market

Stock investing | Stock trading | Most active stocks

Tesla, Inc. (TSLA) was among most active stocks closing at 887.06+107.06 (+13.73%).

TSLA daily stock chart | stocks | stock market

U.S. Sectors & Industries Performance

Information Technology was the best performing sector +2.60%, Utilities was the worst performing sector -1.03%.

Stock earnings

Notable earnings today include Merck & Co Inc (MRK), iRobot Corp (IRBT), General Motors Co (GM), Qualcomm Inc (QCOM).

Stock market update

All data about stocks , stock investing, stock trading is taken from Yahoo Finance, Fidelity and stockcharts.com.

This report is written by Stavros Georgiadis, CFA , Equity Research Analyst, Investment Strategist.

Stock market today October 13, 2020

stock market today The US stock market today closed lower, small-cap stocks underperformed. Dow Jones fell 157 points, S&P 500 lost 22 points. The closing numbers for the stock market oday at the close: S&P 500: 3,511.93,-22.29(-0.63%)Dow 30: 28,679.81,-157.71(-0.55%)Nasdaq: 11,863.90,-12.36(-0.10%)Russell 2000: 1,636.85,-12.21(-0.74%) stock market news “JPMorgan Chase (JPM) kicked off the first set of earnings reports by posting an unexpected increase in profit over last year, driven by a near-30% jump in markets revenue after a stock rally earlier this year and jump in volume drove more equity and bond trading activity. Its provisions for credit costs totaled a smaller than expected $611 million, versus the more than $2 billion in reserve Wall Street had expected the bank would set aside in anticipation of soured loans during the pandemic. On the whole, consensus economists expect companies within the S&P 500 financials sector will see earnings per share decline, in aggregate, by 19.4% over last year. Still, this estimate – along with the broader estimate for S&P 500 earnings to decline by 20.5% in the third-quarter – has been upgraded since the start of the summer, as analysts mulled a less dire outlook for economic activity since the spring.” Stock market data: Yahoo Finance stock earnings JPMorgan EarningsAs for the third quarter itself, JPMorgan posted strong trading results and far fewer reserves to cover loan losses. JPMorgan earned $2.92 a share, well above estimates for $2.35 a share. Revenue of $29.94 billion beat estimates for $28.63 billion. The banking giant set aside just $611 million for loan loss reserves, far less than the $2.88 billion expected and down from $10.4 billion in the second quarter. Net interest income dropped 9% to $13 billion. Fixed income trading revenue grew 29% to $2.6 billion, and equity trading revenue climbed 32% to $2 billion. Investment banking revenue rose 9% to $2.09 billion. Consumer banking revenue slipped 9% to $12.75 billion. Commercial banking revenue was flat at $2.29 billion. Asset management revenue increased 5% to $3.78 billion. JPMorgan stock fell 1.6% to 100.78 in the stock market today. Shares on Monday were above their 50-day line but below their 200-day line. JPMorgan stock, as with other bank stocks, has weak ratings from IBD. It has a 30 Composite Rating. Its EPS Rating is 49. In September, JPMorgan agreed to pay $920 million to resolve U.S. investigations into alleged manipulation of precious metals and U.S. treasuries markets. In July, during the second-quarter JPMorgan earnings call, CFO Jennifer Piepszak said the economy faced a “moment of truth” in the months ahead, as coronavirus relief funds for individuals and businesses began to thin out. “You will see the effect of this recession,” CEO Jamie Dimon said. “You’re just not going to see it right away.” Citigroup EarningsCitigroup, meanwhile, earned $1.40 per share, above estimates for $1.01. Revenue of $17.3 billion topped estimates for $17.21 billion. Citigroup added $314 million to its net allowance for credit losses, compared to $5.6 billion in Q2, with the total cost of credit up diving to $2.26 billion from $7.9 billion in Q2. Net credit losses declined to $1.9 billion from $2.2 billion in Q2. Fixed income trading revenue grew 18% to $3.79 billion, and equity trading revenue rose 15% to $875 million. Investment banking climbed 13% to $1.39 billion. Consumer banking revenue fell 13% to $7.17 billion. Citigroup stock slid 4.8%. The stock has a Composite Rating of 12. Its EPS Rating is 47. Shares were below their 50-day and 200-day lines. Last month, CFO Mark Mason telegraphed lower sales for the quarter, as the Fed keeps interest rates low — an effort to keep borrowing cheap — and the pandemic weighs on consumer spending and investment banking. He also noted a “slower pace” of hiring in the U.S. Still, he touted the company’s efforts to lean down since the 2008 financial crisis and focus on wealthier customers and multinationals. He said trading in the quarter remained solid, and that the reserves the company planned to set aside for bad loans would be significantly less than earlier in the year. CEO Michael Corbat will step down from that position in February. Jane Fraser, head of Citi’s global consumer banking business, will take his place. Among other bank stocks, Wells Fargo (WFC) fell 3.7%, and Bank of America (BAC) lost 2.8%. Goldman Sachs (GS) fell 1.55%. Those banks report later in the week. Stock market data: Investors

0 0

13 Oct 2020