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The big banks kick off earnings season. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Covered by: FOX Business Team
Stocks retreat as 2Q earnings season kicks off
JPMorgan CEO Jamie Dimon talks economy
Oil trades below $90 per barrel level
Biden’s Saudi trip angers US energy industry
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Chevron chairman and CEO Michael Wirth explains what ‘s driving oil volatility and the global energy market on ‘The Claman Countdown.’
| Symbol | Price | Change | %Change |
|---|---|---|---|
| I:COMP | $11,251.19 | +3.60 | +0.03% |
| I:DJI | $30,630.01 | -142.78 | -0.46% |
| SP500 | $3,790.25 | -11.53 | -0.30% |
| XLF | $31.34 | -0.28 | -0.89% |
| JPM | $108.00 | -3.84 | -3.43% |
U.S. stocks ended mixed after the Nasdaq Composite managed to erase the bulk of losses to close higher, while the Dow Jones Industrial Average and S&P 500 ended down. Financials were a drag after JPMorgan’s disappointing quarter, shares fell 3.5%. In commodities, oil lost 0.5% to close at $95.78 per barrel
Compass Real Estate’s Brian Lewis provides insight on buying a home as many Americans are renting due to high prices on ‘Making Money.’
The Nasdaq Composite cut losses with an hour left in the trading day helped by Qualcomm, Costco and Applied Materials.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| QCOM | $135.64 | +2.69 | +2.02% |
| COST | $492.22 | +1.65 | +0.34% |
| AMAT | $89.08 | +0.35 | +0.39% |
Ed Yardeni reacts to JPMorgan’s earnings taking a 28% dive and Douglas Holtz-Eakin provides insight on inflation on ‘Making Money.’
Dickey’s Barbecue Pit CEO Laura Rea Dickey provides insight into the food industry and how fuel and food costs continue to burden restaurant owners on ‘Cavuto: Coast to Coast.’
| Symbol | Price | Change | %Change |
|---|---|---|---|
| DAL | $29.70 | -1.39 | -4.47% |
Payne Capital Management President Ryan Payne discusses the impact of inflation on consumer growth.
U.S. stocks fell across the board after mixed results from JPMorgan and Morgan Stanley as the second quarter earnings season kicks off. Investors also reacting to another red hot inflation report as producer prices jumped 11.3% in June this as the 10-Year Treasury yield crossed 3%. In commodities, oil fell to the $84 per barrel level ahead of President Biden’s Saudi Arabia trip.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| JPM | $111.91 | -1.06 | -0.94% |
| MS | $74.98 | -0.96 | -1.26% |
| XLF | $31.34 | -0.28 | -0.89% |
PPI, Wholesale Inflation
JPMorgan Chase CEO Jamie Dimon
JPMorgan Chase & Co. reported a fall in second-quarter profit on Thursday as America’s largest bank set aside more money to cover potential losses in the face of growing risks of a recession.
The bank recorded $1.1 billion in loan loss provisions compared with last year when it released $3 billion from its reserves.
Read the full story: JPMorgan profit falls, Dimon cautious on economy
Stock traders (AP)
U.S. equity futures were trading 1% lower Thursday morning ahead of the release of earnings from the big banks. Earnings from JPMorgan and Morgan Stanley are on tap.
Continue reading
Oil rig (Reuters)
Oil prices traded lower Thursday morning as investors looked at the prospect of a large U.S. rate hike that would stem inflation and curb crude demand.
U.S. West Texas Intermediate crude was below $95 a barrel. Brent crude futures traded at $97 a barrel after settling below $100 for the second straight session.
President Biden will fly to Saudi Arabia on Friday to attend a summit of Gulf allies and call for them to pump more oil.
Gas Prices (AAA)
The average price of a gallon of regular gasoline slipped on Thursday morning to $4.605, according to AAA. The price on Wednesday was at $4.631. Gas has declined for 27 straight days. Diesel slipped as well to $5.592 down from $5.611
Bitcoin heads into Thursday below $20,000 after snapping a four-day losing streak. The cryptocurrency is up more than 4% in July, but down more than 57% year-to-date.
Ether is trading around $1,000 and Dogecoin is at 6 cents.
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Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by Refinitiv Lipper.
This material may not be published, broadcast, rewritten, or redistributed. © FOX News Network, LLC. All rights reserved. FAQ – New Privacy Policy
