Traders work on the floor of the New York Stock Exchange during morning trading on April 10, 2023 in New York City.
Michael M. Santiago | Getty Images
Here are the most important news items that investors need to start their trading day:
1. Week end
Stocks are coming off a winning day on Wall Street. On Thursday, the Nasdaq Composite gained nearly 2%, while the S&P 500 and the Dow Jones Industrial Average finished 1.3% and 1.1% higher, respectively. The story so far this week has been inflation, with March producer prices posting a surprise decline on Thursday. “Investors are becoming optimistic that times will improve,” said Sam Stovall, chief investment strategist at CFRA Research. Soon, however, Wall Street will turn its attention to earnings reports. Follow live market updates.
2. Big banks at bat
JP Morgan CEO Jamie Dimon looks on during the inauguration of the new French headquarters of US’ JP Morgan bank on June 29, 2021 in Paris.
Michel Euler | AFP | Getty Images
Three major banks are reporting earnings Friday: JPMorgan Chase, Wells Fargo and Citigroup. The reports are being closely watched for clues into how the banking sector fared after the collapse of Silicon Valley Bank and Signature Bank last month. JPMorgan reported record revenue, boosted by higher interest rates. Wells Fargo likewise benefitted from higher rates. The flow of deposits through U.S. financial institutions is top of mind for analysts and investors. Reports from the larger banks, with more earnings releases due out next week, could reveal deposits flowing in as a response to pressure in regional operations, or they could show money leaving the system entirely as customers chase higher yields outside checking and savings accounts.
3. Reduced deliveries
An aerial view of several Boeing 737 MAX airplanes parked at King County International Airport-Boeing Field in Seattle, Washington, June 1, 2022.
Lindsey Wasson | Reuters
Boeing on Thursday warned it will likely have to reduce aircraft…
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