(Tiper Stock Exchange) – Wall Street moves negativedespite a strong start to the banking quarterly season. JPMorgan Chase (first quarter profit up 52%), citigroup (first quarter profit up 7%) e Wells Fargo (first quarter profit up 32%) beat analysts’ estimates thanks above all to the increase in interest rates, signaling the resilience of the sector after the crisis that affected several regional banks in March. Remaining in the financial field, BlackRock reported declining first-quarter earnings, but solid inflows.
To weigh on investor sentiment are some hawkish statements by Fed officials i data on retail sales in March, who suggested the economy was losing steam, with consumers cutting back on purchases of cars and other big-box items. Among other macro data, i import-export prices USA in March, while the industrial production in the same month.
On the front of monetary policythe president of the Atlanta Fed, Raphael Bosticsaid another rate hike of 25 basis points may allow the US central bank to end its tightening cycle with some confidence that inflation will steadily return to the 2% target.
Christopher Wallera member of the Federal Reserve Board of Governors, said monetary policy needs to be tightened further and that it will have to remain restrictive for a considerable period of timeand for longer than the markets expected.
The Dow Jones it is down (-0.82%) and stands at 33,751 points; along the same lines, theS&P-500 it lost 0.76%, continuing the session at 4,115 points. Down the NASDAQ 100 (-1.07%); on the same trend, in red theS&P 100 (-0.71%).
Featured prominently in the S&P 500 the compartment financial. In the price list, the sectors informatics (-1.28%), utilities (-1.27%) and sanitary (-1.11%) are among the best sellers.
To the top between Wall Street giants, JP Morgan (+7.13%) and Goldman Sachs (+1.16%).
The strongest declines, however, occur on boeingwhich continues the session with -5.76%.
The negative performance of United Healthwhich drops by 2.72%.
Travelers Company drops by 2.16%.
Decided decline for Microsoftwhich marks a -1.76%.
On the podium of the Nasdaq stocks, Fastener Company (+1.35%), Old Dominion Freight Line (+1.20%), Marriott International (+0.92%) and Paccar (+0.77%).
The strongest declines, however, occur on Rivian Automotivewhich continues the session with -7.84%.
Black session for Lucid Group,which leaves a loss of 6.85% on the table.
At a loss Atlassianwhich drops by 4.56%.
Under pressure Zscalerwith a sharp drop of 2.92%.