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Stocks slip on disappointing big bank earnings

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IG North America CEO JJ Kinahan,Jamie Dimon,Stock Futures

Stock futures (YM=F, ES=F, NQ=F) are trading lower on Friday as earnings results from major banks, including JPMorgan (JPM), Wells Fargo (WFC), and Citigroup...

Investors are watching for the giant banks to demonstrate how they benefit if interest rates remain higher than expected this year, have disappointed investors. To discuss the market outlook following these earnings, IG North America CEO JJ Kinahan joins The Morning Brief.

Focusing on JPMorgan's earnings specifically, Kinahan says the stock fell due to"some of the statements that came out around it." He notes that JPMorgan CEO Jamie Dimon stated the bank was under pressure due to"factors that were out of their control" and was preparing"for a large variety of outcomes."Kinahan suggests that if interest rates remain unchanged, markets may be able to"stay in a trading range.

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