Tuesday, 14 Apr 2020 11:12 PM MYT
Early gains were broad based with a 4.3 per cent jump for Apple Inc powering a 3 per cent rise in the tech-heavy Nasdaq as data showed iPhone shipments to China rebounded slightly in March after crashing in February. Profits at JPMorgan Chase & Co and Wells Fargo & Co plunged in the first quarter, as both banks set aside billions of dollars to cover potential loan-losses from the pandemic.
“It should come as no surprise that earnings are going to be hit very hard in 2020,” said Fiona O’Neill, deputy head of equities research at Fidelity International in London. President Donald Trump said late yesterday his administration was close to completing a plan to re-open the economy, but some state governors said the decision to re-start businesses lies with them.
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Wall Street slides as focus shifts to earnings | Malay MailNEW YORK, April 14 ― US stocks fell in subdued trading yesterday after a strong rally last week, as US companies prepared to kick off a widely expected painful quarterly earnings season due to the coronavirus pandemic. The S&P banking subsector shed 4 per cent with JPMorgan Chase & Co and...
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