Stocks steady as traders await US earnings season: Markets Wrap

Published On Oct 11, 2024, 3:15 AM

Stocks in the U.S. and Europe are relatively unchanged as traders watch for the upcoming earnings season amid concerns over higher-than-expected inflation in the U.S. The Stoxx 600 index and U.S. futures haven't shown significant movement as market participants prepare for key earnings reports from major banks like JPMorgan Chase and Wells Fargo. Inflation and employment benefit rises pose challenges for the Federal Reserve, which is still expected to reduce interest rates soon. In China, the CSI 300 Index dropped as market caution grows ahead of anticipated fiscal stimulus measures. Oil prices fell after a recent increase, influenced by geopolitical concerns relevant to the Middle East.

Read full article

Stock Forecasts

JPMView JPM chart on TradingView

Positive

With earnings season underway and a potential rate cut from the Federal Reserve on the horizon, banks like JPMorgan and Wells Fargo could see positive trading as investors evaluate their performance under current inflationary pressures. Anticipation of slight interest rate decreases may boost bank stock valuations.

XLFView XLF chart on TradingView

Negative

Given the concerns surrounding inflation and employment, it indicates possible volatility in the stock market segments exposed to rate adjustments and economic uncertainties. As inflation pressures persist, cyclical stocks may experience pressure.

Related News

JPMorgan touts 'soft landing' possibility after better-than-feared earnings

Oct 11, 2024, 11:03 AM

Profits at JPMorgan and Wells Fargo both fell from the year-ago period, but those declines were less than what analysts expected.

JPM
XLF

Stock market today: Stocks rise amid big bank earnings, inflation data

Oct 11, 2024, 10:21 AM

JPMorgan and Wells Fargo get earnings season going in earnest while a wholesale inflation print is in focus after the CPI surprise.

XLF
SPY

Big Banks Open Their Books for First Test After Rate Cuts

Oct 11, 2024, 8:11 AM

Profits fell at JPMorgan and Wells Fargo, but the lenders reported results that were largely better than had been expected, a sign that the economy remained solid.

JPM
WFC