Asia markets set for mixed open as investors digest Wall Street's strong earnings

The firm reported an adjusted $1.24 per share and $13.46 billion in revenue, while analysts polled by Refinitiv forecasted $1.15 and $15.08 billion.Bank of America earnings and revenue exceeded estimates,"All businesses performed well, and we saw improved market shares, particularly in our Sales and Trading and Investment Banking businesses," CEO Brian Moynihan said in a statement.

Consumer spending was weaker than expected in June despite a seemingly brighter inflation picture, theAdvance retail sales showed just a 0.2% increase for the month over May, less than the 0.5% increase that economists surveyed by Dow Jones had been expecting. Excluding autos, the increase also was 0.2%, below the 0.3% estimate.

Falling prices saw gasoline station sales drop 1.4%, offsetting a 2% gain from miscellaneous stores and a 1.9% increase on online purchases. The numbers are not adjusted for inflation; the consumer price index rose 0.2% for the month, indicating that real sales were about flat.

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.

Bulls and bears are locked in a battle for Wall Street | CNN BusinessBulls and bears have always engaged in battle on Wall Street. But the divide between so-called “bulls” and “bears” — optimistic investors who forecast rising stock prices and pessimistic investors who expect declining stock prices — is growing wider.
Source: CNN - 🏆 4. / 95 Read more »

Netflix Earnings Preview: Bullish Wall Street Expects Progress on Password-Sharing Crackdown, Ad TierMacquarie speaks of a 'potentially momentous' quarterly update, while peers predict signs of accelerating growth in the second half of the year.
Source: THR - 🏆 411. / 53 Read more »

Asian stocks drop as China growth worries overshadow Wall Street gainsShares were mostly lower Tuesday in Asia as optimism over a Wall Street rally was countered by worries about the Chinese economy.
Source: MarketWatch - 🏆 3. / 97 Read more »

Bank of America is about to report earnings — here's what Wall Street expectsWhile analysts expected Bank of America to be one of the top beneficiaries of rising interest rates, it hasn't played out that way.
Source: CNBC - 🏆 12. / 72 Read more »