Here's a super-quick guide to what traders are talking about right now
Thomson Reuters
Dave Lutz, head of ETFs at JonesTrading, has an overview of today's markets.
- Bank of America reported a beat on earnings, and the stock is up early Friday morning.
- Wells Fargo beat on earnings but had to set aside $1 billion for legal woes. Wells Fargo shares fell after the report.
- Global markets are mixed.
- Oil is higher ahead of President Donald Trump's speech on Iran.
- Check out which other companies are reporting earnings today with our earnings calendar.
Here's Lutz:
Morning, and good luck this Friday the 13th! US Futures are up slightly as all eyes are on US CPI and Retail Sales at 8:30, as well as Banks (earnings from BAC/WFC) and Semis (MU breaking deal, trading lower again) in focus. Mixed bag in Europe, with the DAX trying to get legs thru 13,000 with Healthcare jumping behind Bayer and EU fins shrugging off early weakness. FTSE Lower despite Miners and Steelmakers having a good session in London on Chinese Trade data. Volumes look low tho, with most exchanges trading 20% below averages. In Asia, Nikkei up 50bp as Fast Retailing leapt 6% on Overseas Sales - Shanghai up 13bp and Hang Seng up small as trading remains tepid into the Congress next week - KOSPI off 10bp as Sammy hit for 1.5% as record profits was a "Sell the News" with the CEO stepping down - Aussie up 30bp and the Kiwis hit new highs for the 9th straight session
The DXY is in the red but holding upside 93 and the US 10YY continues to stay upside 200d ahead of Key Inflation data for Sept - Sterling is rebounding near 2week highs as Hard Brexit Angst recedes slightly and that Euro is sliding off, continuing yesterday's weakness. Commodity currencies like that Aussie $ are popping, as Ore was up 3% and Rebar 4% on strong Chinese import data - squeezing Nickel for another 2.5% and keeping that red metal in the green. Gold is seeing some softness as gravity kicks in near $1300. Oil complex is squeezing again, with WTI seeing stops as it eclipses the week's highs, adding 2% ahead of the 12:45 Iran Speech from President Trump - dragging Gasoline and Natty along for the ride.
Get the latest Oil WTI price here.
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
- Why are so many elite coaches moving to Western countries?
- Global GDP to face a 19% decline by 2050 due to climate change, study projects
- 5 things to keep in mind before taking a personal loan
- Markets face heavy fluctuations; settle lower taking downtrend to 4th day
- Move over Bollywood, audio shows are starting to enter the coveted ‘100 Crores Club’