Thursday Stocks Open Higher...

 Erica Villalon Trade Desk

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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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Friday continues market decline..

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https://www.plurk.com/ericavillalon U.S. stock markets clawed back early losses on Friday , but still drifted lower amid growing concerns that the pandemic and its political fallout will breathe new life into an economically damaging trade war that had been in suspended animation since January.  Wall Street rebounded after an initial blow from figures showing the biggest ever monthly drop in retail sales in April, the first full month of lockdowns dictated by public health concerns. April's data for industrial production and manufacturing output were, however, marginally better than expected.  By 10:20 AM ET (1420 GMT), the Dow Jones Industrial Average was down only 4 points, effectively unchanged on the day, while the S&P 500 was down 0.3%. In a conspicuous contrast to recent trading patterns, the Nasdaq Composite was underperforming, losing 0.4% as semiconductor stocks - typically sensitive to the trade issue - fell more sharply than most. That follow...
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