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US Socks Closed in The Red on Friday on Banks’ Mixed Earnings Reports, Europe Ended The Week Lower.


London, Friday, 14 January 2022 -



US Markets summary


After conflicting earnings reports weighed on big banks, disappointing economic data, and investors' concerns about more aggressive Fed tightening, US markets fell on Friday.


The Dow Jones dropped over 400 points, driven by bank stocks, the S&P 500 shed 0.7 percent, and the Nasdaq Composite dropped as much as 0.5 percent.


On the corporate front, JPMorgan Chase and Wells Fargo's results topped expectations, but only due to reserve releases and Citigroup's profits fell substantially. Meanwhile, retail sales and industrial production also declined unexpectedly, adding to worries about the omicron spread, supply interruptions, and soaring inflation.


The Dow and S&P 500 are likely to lose for the second week in a row, while the Nasdaq is set to fall for the third week in a row.


European Markets summary


Following hawkish statements from many Federal Reserve officials and as the country's inflation rate touched a 40-year high of 7%, European stock markets closed lower on Friday, with Frankfurt's DAX and the pan-European Stoxx 600 each losing 1%.


Retailers led the way down, sliding 2.3 percent, while EDF, the French state-owned utility behemoth, fell 14% after lowering its earnings guidance in response to a government demand to sell more of its nuclear power to smaller rivals in order to decrease electricity prices.


SAP, on the other hand, finished flat after reporting a 28 percent increase in Q4 revenue from its cloud computing arm. Growing tensions along the Ukraine-Russia border further harmed sentiment, with the US apparently urging European partners to agree to possible penalties against Russia.


In terms of economic data, Germany's GDP is predicted to increase by 2.7 percent in 2021. The DAX closed the week 0.3 percent lower, while the Stoxx 600 dropped 0.7 percent.


U.S. Stock Market Indexes

  • S&P 500: +3.79 (0.08%) to 4662.82

  • Nasdaq: 86.94 (0.59%) to 14,893.75

  • Dow Jones: -202.34 (-0.56%) to 35,911.28


European Stock Market Indexes

  • STOXX Europe 600: −4.93 (1.01%) at 481.12 as at 14 Jan, 17:30 CET

  • FTSE 100 in London: −20.90 (0.28%) at 7,542.95 as at 14 Jan, 16:35 GMT

  • DAX 30 in Germany: −148.35 (0.93%) at 15,883.24 as at 14 Jan, 17:55 CET

  • CAC 40 in France: −58.14 (0.81%) at 7,143.00 as at 14 Jan, 18:05 CET

  • FTSE MIB 30 in Italy: −300.49 (1.08%) at 27,543.96 as at 14 Jan, 17:35 CET

  • IBEX 35 in Spain: −10.30 (0.12%) at 8,806.60 as at 14 Jan, 17:38 CET


Other markets

  • Ten-year U.S. Treasury note: +0.091, 1.794% as at Jan 14, 2022 at 4:37 p.m. EST

  • Dollar index: +0.38 or 0.40% at 95.17 as at Jan 14, 2022 at 4:29 p.m. EST

  • VIX volatility index: −1.12 (5.51%) at 19.19 as at 14 Jan, 15:15 GMT-6


Oil prices

  • Brent crude: +0.37or 0.43% at $ 86.42 per barrel as at Jan 14, 2022 at 9:31 p.m. GMT

  • West Texas Intermediate: +2.17 or 2.64% at $ 84.31 per barrel as at Jan 14, 2022 at 4:32 p.m. EST


Precious metals

  • Gold: -4.16 or -0.23% at $ 1,817.00 an ounce

  • Silver: -0.10 or -0.44% at $ 22.96 an ounce


Cryptocurrencies

  • Bitcoin: +704.30 (1.65%) at $ 43,285.90 as at 14 Jan, 21:40 UTC

  • Ethereum: +74.90 (2.31%) at $ 3,316.78 as at 14 Jan, 21:44 UTC



(Written and edited by: The Decision Maker)