Stocks soared Monday, as positive news about earnings from banking powerhouse JPMorgan Chase and comments from President Joe Biden about the possibility of lifting some US tariffs on China boosted sentiment on Wall Street.
Banks have been market losers so far this year, even though many financials should benefit from the fact that the Federal Reserve is raising interest rates. Higher rates should boost lending profits, but investors seem more worried about surging inflation and rate hikes eventually leading to a slowdown in the housing market and broader economy.Mahmood Noorani, co-founder and CEO at Quant Insight, said many financial stocks were oversold and had become cheap.
The tech-heavy Nasdaq index was up 1.6% Monday. Talk from Biden about possibly rolling back tariffs on Chinese imports would be good news for the tech sector, which does a lot of business in China.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks surge thanks to big rally for JPMorgan Chase and other banksStocks surge on positive earnings news from JPMorgan Chase and other banks as investors pause their May selloff. The Dow gains more than 600 points. Everything's better! Hopefully it keeps going but it’s only one day after daily poundings for months. progressive I need someone to look into Claim Number 22-7480824-02 ASAP. Your representative Joshua Peck has been doing a very terrible job in handling this.progressive
Source: cnnbrk - 🏆 393. / 55 Read more »
Asia stocks weighed by inflation concerns, China tech sellingAsian stocks came under pressure on Monday as persistent worries about inflation and rising interest rates dogged the global economic outlook and fresh selling in technology stocks weighed on Chinese markets.
Source: Reuters - 🏆 2. / 97 Read more »
Hong Kong's Hang Seng Falls as Tech Stocks Slide; Xpeng Shares Plunge Ahead of EarningsAsia-Pacific Stocks Mixed as Global Concerns Persist; Xpeng Shares Plunge Ahead of Earnings
Source: NBCDFW - 🏆 288. / 63 Read more »
Top 5 Stocks For Beginners To Buy in 2022 | HackerNoonChoosing which stock to invest in can be hard for a beginner. To make it easier for you, we did some research on which are the best stocks to buy in 2022.
Source: hackernoon - 🏆 532. / 51 Read more »
‘Deteriorating quickly’: U.S. earnings revisions could knock stocks down another 5% to 10%, warns Morgan StanleyU.S. company earnings revisions are “deteriorating quickly,” threatening to deepen the stock-market’s losses so far this year, according to Morgan Stanley. consumer companies are just getting hammered
Source: MarketWatch - 🏆 3. / 97 Read more »
Weekend reads: How to know when to start buying stocks againAlso, nuts-and-bolts explanations of what has been happening with bitcoin and stablecoins. Ret Top search on coinGecko usa When that are all at one penny apparently from what I see based on inflation Im from war that has no end date! So wait until .0001
Source: MarketWatch - 🏆 3. / 97 Read more »