Good MorningThe Q1 earnings season started with a whimper on Wednesday after reports from the big banks failed to impress the market. Reports from JPMorgan Chase, Goldman Sachs, and Wells Fargo all beat their consensus targets but internal metrics reveal stock market gains and investment banking are the reason why. The banking sector started the day in negative territory but managed to recoup the losses by the end of the session.
The energy market got a boost on Wednesday by a bigger-than-expected drawdown of U.S. crude stockpiles. The U.S. crude inventory fell more than 5 million barrels versus the consensus estimate for about half the amount. The price of WTI gained more than 4% on the news and looks like it is headed back up to retest the recent highs.
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Markets | | | Chinese online music platform Tencent Music (NYSE: TME) stock surged to highs of $32.25 on March 23, 2021, before collapsing nearly in half to a low of $16.31 just three days later. Massive selling also occurred in Viacom (NYSE: VIAC) and Discovery Networks (NASDAQ: DISCA) and various Chinese stocks... Read the Full Story |
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Markets | | | Asian stock markets were mixed Thursday after Wall Street retreated from a record high as major banks reported strong profits.
Shanghai, Hong Kong and India declined. Tokyo, Seoul and Sydney advanced.
Wall Street's benchmark S&P 500 index closed 0.4% below the previ... Read the Full Story |
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Markets | | | Major global stock markets were mostly higher Thursday after Wall Street retreated from a record high as major U.S. banks reported strong profits.
London and Frankfurt opened higher while Tokyo also advanced. Shanghai and Hong Kong declined.
Wall Street futures were hig... Read the Full Story |
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Markets | | | Truist Financial (NYSE:TFC) is a super-regional bank that was formerly known as the Branch Banking and Trust Company (BB&T). The bank changed its name after merging with Atlanta-based SunTrust Bank in December 2019 Read the Full Story |
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Politics | | | Bernard Madoff, the infamous architect of an epic securities swindle that burned thousands of investors, outfoxed regulators and earned him a 150-year prison term, died behind bars early Wednesday. He was 82.
Madoff's death at the Federal Medical Center in Butner, North Carolina, was ... Read the Full Story |
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Markets | | | Anytime a company posts record earnings like Goldman Sachs (NYSE:GS) just did, it’s a good idea for investors to take note. It’s all the more impressive given this leading investment banking and securities company’s extended history of delivering strong results. Read the Full Story |
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Politics | | | Serbia has announced it will begin packing and later producing Russia’s Sputnik V coronavirus vaccine, which would make it the first European nation outside Russia and Belarus to begin manufacturing the jab Read the Full Story |
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Politics | | | The Treasury Department has created a new office to supervise the disbursement of the billions of dollars in relief money authorized by Congress to combat the coronavirus-related recession.
Officials said Wednesday that the goal is to streamline the process and ensure all eligible gro... Read the Full Story |
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Markets | | |
The Labor Data, Wow,
We recently wrote a very compelling argument about why this market (NYSEARCA: SPY) was due for a correction and we stand by that position. This market is due for a correction but the timing, depth, and duration are questionable. In our view, a correction, if it comes, w... Read the Full Story |
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Stocks | | | Based on the data it sure looks like oil prices are about to move higher. Not only is the world demand picture brightening but production has yet to pick up. The latest inventory data from EIA underscores this statement as it shows not only an acceleration of weekly drawdowns but a continuation of the trend of weaker than expected data. Read the Full Story |
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The Early Bird Stock Of The Day Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises. It serves customers in various industry sectors, such as communications, retail connectivity and services, consumer goods, healthcare, technology products and platforms, banking and financial services, energy, manufacturing and resources, capital markets and insurance, and hi-tech. The IT Products segment provides a range of third-party IT products comprising enterprise platforms, networking solutions, software and data storage products, contact center infrastructure, enterprise security, IT optimization technologies, video solutions, and end-user computing solutions. It serves enterprises in various industries primarily in the Indian market, which comprise the government, defense, IT and IT-enabled services, telecommunications, manufacturing, utilities, education, and financial services sectors. The company was incorporated in 1945 and is based in Bengaluru, India. | | View Today's Stock Pick |
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