Stocks fall Pre Market

https://ericavillaloncom.wordpress.com/2020/08/03/stock-fall-pre-market/

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Markets Consolidate and Keep Gains.

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http://www.authorstream.com/ericavillalon/ U.S. stock markets turned negative on Tuesday as President Donald Trump renewed his pressure on the Federal Reserve to cut interest rates further, hitting financial stocks in particular.   By 10:10 AM ET (1410 GMT), the Dow Jones Industrial Average was up 97 points, or 0.4%, at 24,319 points, while the S&P 500 and the Nasdaq Composite were both slightly down. "As long as other countries are receiving the benefits of Negative Rates, the USA should also accept the “GIFT”. Big numbers!" Trump tweeted.  JPMorgan (NYSE: JPM ) stock fell 1.0% while Bank of America (NYSE: BAC ) stock fell 0.9% and Citigroup (NYSE: C ) stock fell 0.8%, reversing early gains, amid fear that even lower official interest rates will squeeze their profit margins as has been the case in other countries where the strategy has been tried, such as the euro zone and Japan. Bank stocks had opened marginally higher, reassured by comme...
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US Futures Point To Higher Open, Despite Earnings...

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http://www.authorstream.com/ericavillalon/ 8:44 AM ET: Johnson & Johnson (NYSE: JNJ ) stock rose 2.9% after the pharma giant raised its dividend by over 6% on the back of quarterly earnings that beat expectations. That softened the blow of a downgrade to this year’s earnings expectations. The company now sees an EPS range of $7.50 to $7.90, compared with its prior estimate of $8.95 to $9.10. That’s an implicit cut of some 14%. JPMorgan (NYSE: JPM ) stock rose 3.2% after the bank booked $6.8 billion in provisions against loan losses and nearly $2 billion more in other impairments in response to the pandemic. CEO Jamie Dimon also warned that provisions could rise meaningfully in the coming quarters. Loan demand also fell, as did investment banking revenue, but income from bond and equity trading rose on the back of higher market volatility, while its asset management arms also grew 7%.  The Common Equity Tier 1 ratio, a benchmark of financial strength, fell to 11.5%. ...
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Crude Oil falls on Fear...

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Oil markets continued to head south Wednesday, with U.S. crude futures tumbling to a near 18-year low as travel and social lockdowns sparked by the coronavirus epidemic knocked the outlook for demand. AT 9:00 AM ET (1300 GMT), U.S. crude futures traded 8.7% lower at $24.94 a barrel, its lowest since May 2002. The international benchmark Brent contract fell 5.2% to $27.23, its lowest since May 2003. The battleground against the virus has moved from Asia to Europe and America. Deaths have continued to soar in Italy and Spain, prompting the European Union to ban travellers from outside the bloc for 30 days in an unprecedented move to seal its borders. Travel within Europe has also been severely limited by public health measures closing most non-essential business activity. The Trump administration has recommended the closure of restaurants, bars and schools while assembling a $1.2 trillion stimulus plan that would shortly send cash to Americans, and backstop airl...
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