View this post on Instagram U.S. equity markets rallied Tuesday as concerns over the coronavirus ease and early-stage plans of re-opening some pockets of the economy take shape. The Nasdaq, which exited a bear market, surged nearly 4 percent stretching its winning streak to four days, the longest since February. The Dow Jones Industrial Average gained 558 points, or 2.4 percent, while the S&P 500 rose 3.05 percent. With financial reports for the first quarter just beginning, Wall Street analysts surveyed by FactSet expected S&P 500 earnings to fall 9 percent from a year ago, the first quarterly decline since the financial crisis. Dow components JPMorgan Chase & Co. and Johnson & Johnson and the San Francisco-based lender Wells Fargo all released results. JPMorgan Chase & Co. posted a 69 percent drop in profit from a year ago and set aside $6.8 billion to cover loan losses from the economic shutdown due to the COVID-19 pandemic. Both earnings and revenue were below expectations.A post shared by Fox Business (@foxbusiness) on Apr 14, 2020 at 1:14pm PDT
U.S. equity markets rallied Tuesday as concerns over the coronavirus ease and early-stage plans of re-opening some pockets of the economy take shape. The Nasdaq, which exited a bear market, surged nearly 4 percent stretching its winning streak to four days, the longest since February. The Dow Jones Industrial Average gained 558 points, or 2.4 percent, while the S&P 500 rose 3.05 percent. With financial reports for the first quarter just beginning, Wall Street analysts surveyed by FactSet expected S&P 500 earnings to fall 9 percent from a year ago, the first quarterly decline since the financial crisis. Dow components JPMorgan Chase & Co. and Johnson & Johnson and the San Francisco-based lender Wells Fargo all released results. JPMorgan Chase & Co. posted a 69 percent drop in profit from a year ago and set aside $6.8 billion to cover loan losses from the economic shutdown due to the COVID-19 pandemic. Both earnings and revenue were below expectations.
A post shared by Fox Business (@foxbusiness) on Apr 14, 2020 at 1:14pm PDT
View this post on Instagram MARKET RALLY: U.S. equity markets opened higher Tuesday as some of the country’s biggest banks kicked off earnings season. The Dow Jones Industrial Average gained 421 points, or 1.8 percent, in the opening minutes of trading. The S&P 500 and Nasdaq Composite rose 1.7 percent and 1.8 percent, respectively. The early gains come after the S&P 500 lost 1 percent on Monday, coming off its best week since 1974. With financial reports for the first quarter just beginning, Wall Street analysts surveyed by FactSet expected S&P 500 earnings to fall 9 percent from a year ago, the first quarterly decline since the financial crisis. Dow components JPMorgan Chase & Co. and Johnson & Johnson and the San Francisco-based lender Wells Fargo all released results. JPMorgan Chase & Co. posted a 69 percent drop in profit from a year ago and set aside $6.8 billion to cover loan losses from the economic shutdown due to the COVID-19 pandemic. Both earnings and revenue were below expectations. Wells Fargo set aside $3.1 billion to cover loan losses and reported a quarterly profit of 1 cent a share, missing estimates. Revenue of $17.7 billion also disappointed. Johnson & Johnson reported top- and bottom-line results that topped estimates and hiked its quarterly dividend by 6.3 percent to $1.01 a share.A post shared by Fox Business (@foxbusiness) on Apr 14, 2020 at 6:49am PDT
MARKET RALLY: U.S. equity markets opened higher Tuesday as some of the country’s biggest banks kicked off earnings season. The Dow Jones Industrial Average gained 421 points, or 1.8 percent, in the opening minutes of trading. The S&P 500 and Nasdaq Composite rose 1.7 percent and 1.8 percent, respectively. The early gains come after the S&P 500 lost 1 percent on Monday, coming off its best week since 1974. With financial reports for the first quarter just beginning, Wall Street analysts surveyed by FactSet expected S&P 500 earnings to fall 9 percent from a year ago, the first quarterly decline since the financial crisis. Dow components JPMorgan Chase & Co. and Johnson & Johnson and the San Francisco-based lender Wells Fargo all released results. JPMorgan Chase & Co. posted a 69 percent drop in profit from a year ago and set aside $6.8 billion to cover loan losses from the economic shutdown due to the COVID-19 pandemic. Both earnings and revenue were below expectations. Wells Fargo set aside $3.1 billion to cover loan losses and reported a quarterly profit of 1 cent a share, missing estimates. Revenue of $17.7 billion also disappointed. Johnson & Johnson reported top- and bottom-line results that topped estimates and hiked its quarterly dividend by 6.3 percent to $1.01 a share.
A post shared by Fox Business (@foxbusiness) on Apr 14, 2020 at 6:49am PDT
