Yesterday’s session loaded with skepticism due to the fall in profits that the results of the second quarter of JPMorgan Chase & Co and Morgan Stanley, is left behind with optimism by Citigroup Inc., which reported earlier in the day that the results of trading activity increased by 25% of revenues to 5,300 million dollars, since that the company took advantage of the volatility of assets, especially fixed income, commodities and currencies, an area in which it is particularly strong.
Previously, heJPMorgan shares fell 3.5% after a reported down 28% on its quarterly profit, higher than expected, and suspended share buybacks to set aside more money to cover possible losses.
European stocks rose on Friday and Wall Street is aligned higher as the risks of an immediate political crisis in Italy appeared to diminish and two Fed officials lowered expectations of a more aggressive rise in US interest rates this month.
“Today’s moves … come as Federal Reserve governors potentially ruled out a 100 basis point hike, so it has cooled down a bit from the panicked price reaction we had seen earlier in week,” said Rohan Khanna, a strategist at UBS.
european bags
European stocks rose on Friday as the risks of an immediate political crisis in Italy appeared to recede and two Fed officials lowered expectations of a more aggressive hike in US interest rates this month.
In the last two sessions it has fallen by 2.6%as investors fear that high inflation in the United States could lead the Federal Reserve to raise interest rates by 100 basis points more than expected later this month.
Investors now await next week’s ECB meeting, in which a rise of 25 basis points has been announced, the first in more than a decade. The ECB has lagged behind most of its peers on rate hikes, but with inflation hitting record highs and expected to be exacerbated by an energy conflict with Russia, markets are looking for clues on the magnitude of future increases.
Source: Ambito
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