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.
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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
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‘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
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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
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