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Bank Earnings Send Wall Street Higher.


London, Friday, 14 July 2023


As investors analysed the most recent earnings reports, US markets advanced on Friday, with the Dow Jones jumping more than 150 points and the S&P 500 and Nasdaq both gaining 0.3%.


JPMorgan Chase surpassed profit and revenue projections, sending its stock up more than 1%.


Following the release of better-than-expected results and revenue, Wells Fargo and UnitedHealth both saw their shares climb by more than 2% and around 4%, respectively.


However, despite results exceeding projections and net inflows falling short of expectations, shares of BlackRock dropped 1.2%.


After announcing a decline in net income, Citigroup likewise saw a decline (-0.3%). The Dow Jones is currently up 1.9% for the week, the S&P 500 is up 2.5%, and the Nasdaq is up 3.5%, on pace to have its best week since March 17.


(Written by: The Decision Maker - Finance editors)


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