Wake Up Wall Street (SPY) (QQQ): ECB delays, Musk bids for Twitter and investment banks boom
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UNLOCK OFFERHere is what you need to know on Thursday, April 14:
Earnings season continues with some ramping up in the financials space on Thursday. Goldman Sachs (GS) and Morgan Stanley (MS) both boom it as trading desks love volatility while Wells Fargo underperforms. In perhaps a sign of things to come Wells Fargo missed due to a fall in mortgage lending. With rates going ever higher this looks set to continue. Next up is Citi (C) which is due out imminently. Over to Central Banks now and the ECB let down traders banking on a more hawkish tilt as it proposed to end its bond-buying in Q3 and so no rate rises are likely until Q4.
The dollar strengthened on the ECB narrative as prospects for the EU look gloomy and rate hikes are put on the long finger. Meanwhile, the Fed is set to raise 50 bps in May. The dollar index is at 99.85 now. Gold is lower at $1974 and Bitcoin is at $41,200. Oil is steady at $103.52.
European markets are higher: Eurostoxx +0.9%, FTSE +0.3% and Dax +0.5%.
US futures are mixed: Nasdaq and Dow -0.1% and S&P +0.2%.
S&P 500 chart, 15 minute bars
Wall Street (SPY) (QQQ) top news
ECB to end bond buying in Q3, leaves rates unchanged.
Twitter (TWTR) Elon Musk offers to buy for $54.20 all cash.
Citigroup (C) beats on top and bottom lines.
Wells Fargo (WFC) misses on revenue.
Goldman (GS) smashes earnings.
Morgan Stanley (MS) also beats on EPS and revenue.
NIO resuming production after covid suspension.
Ally Financial (ALLY) down 4% after earnings beat.
Western Digital (WDC) downgraded by Susquehanna.
United Health Group (UNH) up on strong earnings, beat on top and bottom lines.
RiteAid (RAD) misses on EPS but revenue ahead of estimates.
Upgrades and downgrades
Source: Benzinga Pro
Economic releases
The author is short Tesla
Here is what you need to know on Thursday, April 14:
Earnings season continues with some ramping up in the financials space on Thursday. Goldman Sachs (GS) and Morgan Stanley (MS) both boom it as trading desks love volatility while Wells Fargo underperforms. In perhaps a sign of things to come Wells Fargo missed due to a fall in mortgage lending. With rates going ever higher this looks set to continue. Next up is Citi (C) which is due out imminently. Over to Central Banks now and the ECB let down traders banking on a more hawkish tilt as it proposed to end its bond-buying in Q3 and so no rate rises are likely until Q4.
The dollar strengthened on the ECB narrative as prospects for the EU look gloomy and rate hikes are put on the long finger. Meanwhile, the Fed is set to raise 50 bps in May. The dollar index is at 99.85 now. Gold is lower at $1974 and Bitcoin is at $41,200. Oil is steady at $103.52.
European markets are higher: Eurostoxx +0.9%, FTSE +0.3% and Dax +0.5%.
US futures are mixed: Nasdaq and Dow -0.1% and S&P +0.2%.
S&P 500 chart, 15 minute bars
Wall Street (SPY) (QQQ) top news
ECB to end bond buying in Q3, leaves rates unchanged.
Twitter (TWTR) Elon Musk offers to buy for $54.20 all cash.
Citigroup (C) beats on top and bottom lines.
Wells Fargo (WFC) misses on revenue.
Goldman (GS) smashes earnings.
Morgan Stanley (MS) also beats on EPS and revenue.
NIO resuming production after covid suspension.
Ally Financial (ALLY) down 4% after earnings beat.
Western Digital (WDC) downgraded by Susquehanna.
United Health Group (UNH) up on strong earnings, beat on top and bottom lines.
RiteAid (RAD) misses on EPS but revenue ahead of estimates.
Upgrades and downgrades
Source: Benzinga Pro
Economic releases
The author is short Tesla
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