tl;dr
Stock index futures slipped on Friday, while yields inched down, as investors gear up for major earnings from big banks. S&P 500 futures (SPX) -0.5%, Nasdaq 100 futures (NDX:IND) -0.6%, and Dow futures (INDU) -0.4%. The 10-year Treasury yield (US10Y) fell 5 basis points to 4.54%. The 2-year yield (U...
Stock index futures slipped on Friday, while yields inched down, as investors gear up for major earnings from big banks. S&P 500 futures (SPX) -0.5%, Nasdaq 100 futures (NDX:IND) -0.6%, and Dow futures (INDU) -0.4%. The 10-year Treasury yield (US10Y) fell 5 basis points to 4.54%. The 2-year yield (US2Y) fell 4 basis points to 4.93%. Equities recovered some ground on Thursday, benefitting from a cooler-than-expected producer inflation print, which soothed sentiment, and a renewed tech rally, which propelled the Nasdaq to close at a record high. "It’s been a volatile 24 hours in markets, with bonds continuing to struggle thanks to concerns about inflation, whilst equities saw a tech-led rebound that meant the Nasdaq closed at an all-time high," said Deutsche Bank's Henry Allen. Although bonds continued to sell off, a renewed tech rally saw equities recover in the latter half of the US session ahead of the earnings season kicking off in full today, Allen added. "Investors are coming to grips with the fact that the Federal Reserve is content to hold fire on reducing interest rates for the moment, as evidenced by a new consensus which points to two cuts this year, as opposed to the six initially predicted," said Richard Hunter from Interactive Investor. The University of Michigan Consumer Sentiment Index is scheduled to hit during market hours. Economists expect a slight fall to 79 for April from 79.4 reported in March. "We look for a small decline in the headline Michigan consumer sentiment survey to around 79 in April, from 79.4, given the recent climb in gas prices," said Pantheon Macroeconomics. Wells Fargo (WFC) and JPMorgan Chase (JPM) reported their Q1 earnings, with both beating their top and bottom line estimates.
More about Wells Fargo & Company
Wells Fargo & Company Summary Company: Wells Fargo & Company
Description: Wells Fargo & Company is an American multinational financial services company with corporate headquarters in San Francisco, California, operational headquarters in Manhattan, and managerial offices throughout the United States and overseas.
Sector: FINANCE
Industry: NATIONAL COMMERCIAL BANKS
Market Cap: $201.59 billion
Dividend Yield: 11.79%
P/E Ratio: 1.3
EPS: 4.83
ROE: 20.93%
Beta: 0.248
Volume: 77,198,000
Stock Price: $61.22
Change: 0.15
Change %: 0.006
More about JPMorgan Chase & Co
JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City. JPMorgan Chase is incorporated in Delaware. As a Bulge Bracket bank, it is a major provider of various investment banking and financial services. It is one of America's Big Four banks, along with Bank of America, Citigroup, and Wells Fargo. JPMorgan Chase is considered to be a universal bank and a custodian bank. The J.P. Morgan brand is used by the investment banking, asset management, private banking, private wealth management, and treasury services divisions.
Industry: Finance
Sector: National Commercial Banks
Market Cap: 561.29 Billion
Current Price: $12.05
P/E Ratio: 4.1
Dividend Yield: 16.22%
52-Week High: $49.69
52-Week Low: $0.339
Shares Outstanding: 1.46 Billion
Public Float: 188.78 Million
Beta: -0.15
EPS: $0.111
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