The shares fought for the direction during the relatively quiet day for the equity market. A round of well -acquired bank earnings helped raise the spirit for most of the day, but President Donald Trump’s tariff plans were locked in the red colored market near the uncertainty.
Next to the initial bell, many big banks reported the results of the first quarter, including Bank of America (BAC). Financial stock The company jumped 3.7% after defeating the top and bottom-strength estimates.
City group (C, +1.7%) Stock also obtained land after earning. For the three months ending March 31, the financial firm revealed a high-to-submitted income of $ 1.96 per share on a revenue of $ 21.6 billion.
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Similar to many other big banks, the results of Bank of America and City were helped by strong trading revenue.
China stopped the orders of the new Boeing aircraft
Beyond Earning calendar, Boing (BA) Shares declined by 2.4% after stopping new orders for China’s aircraft.
Bloomberg according toBeijing has directed the Chinese airlines not to give any new order with Boeing and get approval before taking delivery of already ordered jets.
This news inspired President Trump’s quick response, which Truth posted on social That China said “Just said on the Big Boeing deal, saying that they will not ‘capture’ committed to the aircraft”.
Coca-Cola gets upgrade to buy
Coca Cola (KO) was another underperforming Dow jones stock0.8% decline even after CFRA research analyst Garat nelson Upgrade shares to buy from hold.
“The recent decline in the dollar relative to other major currencies for Coca-Cola should be converted into a bottom-line tailwind, which produces more than 60% of its total revenue outside the US,” says Nelson.
The analyst also sees the company’s Fairlife Milk and the protein shake brand as “an under-to-bested growth driver” and believes that the dividends of Coca-Cola will be included in its total return capacity.
Nelson picked up his price target at KO-one of the favorite shares of Buffett and one long term Berkshire Hathaway Holding – $ 68 to $ 80. It lies more than 11% of April 15.
As for the main index, Dow jones industrial average The day was closed 0.4% at 40,368, S&P 500 0.2% fell to 5,396, and Nasdac Composite At 16,823 was 0.05% less.
Retail sales, Powell on deck
Earning in the first quarter will keep in mind on Wednesday United Airlines (UAL) Reporting after the closure of tonight and Passenger (TRV) To reveal your results before tomorrow’s open.
Economic calendar The march on Wednesday morning is also getting hot with retail sales data.
“After two disappointing months to start the year from the perspective of consumer expenses, tomorrow’s retail sales for March are above the brain,” says Jose ToraceSenior economist in interactive brokers.
“The domestic outline represents about 70% of the US economy and the figures of the previous month will be another disappointment, then the first quarter GDP”Gross domestic product) Perhaps it is going to come in negative, “he says.
Investors will also listen to the Federal Reserve Chair Jerome Powell, who is going to speak at the Eastern standard time at 1:30 pm.
“Authorities have begun to accept more unstable conditions in the markets, and indicate Fed’s commitment that if the conditions are required, to ensure smooth market functioning using their equipment,” Write in the comments emailed to Deutash Bank economists. They expect a similar message this week.
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