Here are the most important news items that investors need to start their trading day:
1. Wrapping up
Stock futures slipped Friday ahead of the final trading session of the week. But the major indexes are all still headed for weekly gains, despite what’s felt like near-daily doldrums since 2024 kicked off. The Dow Jones Industrial Average is up 0.65% so far this week, the S&P 500 is up 1.77% and the Nasdaq Composite is up more than 3%. Follow live market updates.
2. Calling on reserves
Signage outside a Chase bank branch in San Francisco, California, on Monday, July 12, 2021.
David Paul Morris | Bloomberg | Getty Images
It’s a big morning of bank earnings, with JPMorgan Chase, Bank of America, Citigroup and Wells Fargo all issuing quarterly reports. U.S. banks have been navigating a period of high interest rates combined with rising loan losses. They’re also staring down aggressive forthcoming capital requirements. JPMorgan, the largest U.S. bank by assets, and Bank of America both reported profit fell last quarter due to regulatory fees associated with the regional banking crisis.
3. Onward and upward
Patrons shop for cuts of meat at a Shop Fair Market in the Brooklyn borough of New York, US, on Tuesday, Dec. 26, 2023.
Victor J. Blue | Bloomberg | Getty Images
Don’t get too comfortable: CPI was back on the rise last month. The consumer price index — a measure of what consumers pay for a set basket of goods, and a key inflation gauge — was up 3.4% year over year in December, reversing course after two months of declines. The index was up 3.1% in November and 3.2% in October. On Friday, however, a related inflation readout, the producer price index, unexpectedly fell in a positive sign for the economy.
4. Tech crunch
An illuminated Google logo is seen inside an office building in Zurich, Switzerland.
Arnd Wiegmann | Reuters
Google is cutting several hundred jobs across its hardware, central engineering and voice-activated Google Assistant teams. It’s among the latest…
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