U.S. stocks closed: The three major U.S. indexes collectively fell, with jp morgan chase bucking the trend and rising by more than 7%.
The three major U.S. indexes collectively fell, with citigroup rising over 7%, driving up bank stocks.
On Friday, U.S. Eastern Time, despite strong Q1 financial reports from major banks led by jp morgan chase, weak March retail data put pressure on the market, coupled with hawkish remarks from senior officials of the Federal Reserve, causing the three major indexes to collectively fall. As of the close, $Dow Jones Industrial Average (.DJI.US)$ Fell by 0.42%, at 33,886.47 points; $S&P 500 Index (.SPX.US)$ Fell by 0.21%, at 4,137.64 points; $Nasdaq Composite Index (.IXIC.US)$ 0.35%, at 12,123.47 points.
jp morgan chase achieved a revenue of 38.35 billion dollars in the first quarter of 2023, a year-on-year increase of 25%, reaching a historic high; $JPMorgan (JPM.US)$ Rise more than 7.55%, $Bank of America (BAC.US)$ Rise 3.36%, $Citigroup (C.US)$ Rise 4.78%, $Wells Fargo & Co (WFC.US)$ Drop 0.05%.
Most large technology stocks fell, $Tesla (TSLA.US)$ Fall 0.48%, $Apple (AAPL.US)$ Fall 0.21, $Amazon (AMZN.US)$ Up 0.11%, $Microsoft (MSFT.US)$ Down 1.28%, $Netflix (NFLX.US)$ Down 2.18%, $Alphabet-A (GOOGL.US)$ Up 1.34%.
Key market news
US retail sales have declined for the second consecutive month, with household spending cooling off.
US retail sales have declined for the second consecutive month, with household spending cooling off.
Data released by the US Department of Commerce on Friday showed that overall retail sales fell by 1% on a month-on-month basis, with February's figure revised to a decline of 0.2%. Retail sales excluding gasoline and autos dropped by 0.3%, a smaller decline than expected. The data is not adjusted for inflation.
US consumers have significantly increased their expectations for inflation in the next year, reaching the highest level in nearly two years.
According to the preliminary data from the University of Michigan in April, consumers expect prices to rise by 4.6% in the next year, higher than the 3.6% in March. The report released on Friday also showed that they expect prices to rise by 2.9% over the next five to ten years, maintaining at this level for the fifth consecutive month.
The intraday levels for DIA are 340.5-338.7-337.7-336.2. $SPDR Dow Jones Industrial Average Trust (DIA.US)$
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