The dollar is back in the doldrums, and it looks to be stuck that way for a while. After surprisingly weak CPI inflation data, the dollar index sank to a new low of 95.186 Friday, the lowest since September of last year. The dollar’s decline was broad-based, falling to a 10-month low against the British […]

As earnings seasons approached, investors flocked to financial stocks on anticipation that the high hopes for the sector would come true. So far, it’s been an expensive losing bet. Bank shares slumped Friday in an early but important round of profit reports. JPMorgan Chase, Wells Fargo and Citigroup — Nos. 1, 3 and 4 in […]

Markets are a little too calm, at least as far as Wall Street is concerned. JPMorgan Chase and Citigroup reported lower trading results for the second quarter and the signs aren’t pointing to a rebound in the fall. Bankers had already warned in recent weeks that revenue from bond and stock trading would be lower […]

JPMorgan Chase CEO Jamie Dimon had some critical words Friday for reporters overly scrutinizing the bank’s second-quarter report. “Who cares about fixed income trading in the last two weeks of June? I mean seriously?” the bank executive said on a call with journalists following the firm’s second quarter earnings report. “That is the weather. It […]

Shares in US-listed steel companies rose sharply late on Thursday after Donald Trump accused China of dumping cheap steel in the American market and was considering imposing both tariffs and quotas on imports. The rally was part of a longer-run increase for the industry, which has been awaiting a US Department of Commerce report that […]

Banks are beginning to report earnings. All four banks reporting (JP Morgan, Citigroup, Wells Fargo, and PNC) beat earnings expectations and all but Wells Fargo beat on the topline. So why are they all trading down Friday? There’s two issues: fundamental and seasonal. First, the soft economic data we saw Friday — retail sales, but […]

Flat consumer inflation and a surprise drop in June retail sales triggered new doubts that the Federal Reserve will be able to raise interest rates again this year. “This is a game change for market expectations. Now it’s when does the Fed respond and what does transitory really mean,” said Ian Lyngen, head of U.S. […]

Credit Suisse just raised its year-end forecast for the S&P 500 and told investors to “stick with equities.” In a note published Friday, its head of global equity said “the bull market will continue” because interest rates will remain low, earnings will come in stronger than expected and the normal signs of a peak in […]

JPMorgan upgraded shares of Boeing, which are up 33 percent for 2017 through Thursday, saying the stock is still cheap and the aerospace leader will benefit from many industry tailwinds this year. “BA is among the stocks best positioned to benefit from positive aero fundamentals,” wrote JPMorgan’s Seth Seifman in Friday’s note. “BA is consciously […]

Check out which companies are making headlines before the bell: JPMorgan Chase – The bank reported second quarter earnings of $1.82 per share, beating estimates of $1.58 a share. Revenue also came in above forecasts. The bank’s results were helped by lending, although trading results were lower. Wells Fargo – Wells Fargo reported quarterly profit […]