Here are the most important news items that investors need to start their trading day:
1. Wrapping up
Stock futures slipped Friday ahead of the final trading session of the week. But the major indexes are all still headed for weekly gains, despite what’s felt like near-daily doldrums since 2024 kicked off. The Dow Jones Industrial Average is up 0.65% so far this week, the S&P 500 is up 1.77% and the Nasdaq Composite is up more than 3%. Follow live market updates.
2. Calling on reserves
Signage outside a Chase bank branch in San Francisco, California, on Monday, July 12, 2021.
David Paul Morris | Bloomberg | Getty Images
It’s a big morning of bank earnings, with JPMorgan Chase, Bank of America, Citigroup and Wells Fargo all issuing quarterly reports. U.S. banks have been navigating a period of high interest rates combined with rising loan losses. They’re also staring down aggressive forthcoming capital requirements. JPMorgan, the largest U.S. bank by assets, and Bank of America both reported profit fell last quarter due to regulatory fees associated with the regional banking crisis.
3. Onward and upward
Patrons shop for cuts of meat at a Shop Fair Market in the Brooklyn borough of New York, US, on Tuesday, Dec. 26, 2023.
Victor J. Blue | Bloomberg | Getty Images
4. Tech crunch
An illuminated Google logo is seen inside an office building in Zurich, Switzerland.
Arnd Wiegmann | Reuters
5. Bon voyage
Delta Air Lines planes at Hartsfield-Jackson Atlanta International Airport.
Jeff Greenberg | Universal Images Group | Getty Images
Delta Air Lines more than doubled its fourth-quarter profit as travel demand, especially for international trips, remains strong. The carrier on Friday reported December-quarter results that beat Wall Street expectations, but it trimmed its 2024 earnings forecast from prior estimates. CEO Ed Bastian told CNBC’s Leslie Josephs, “business is great” but noted the industry still faces some supply chain challenges: “It’s taking longer to fix planes and taking longer to put them back into service.”
– CNBC’s Alex Harring, Hugh Son, Jeff Cox, Ashley Capoot, Annie Palmer, Jonathan Vanian and Leslie Josephs contributed to this report.
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Jessica Roberts is a seasoned business writer who deciphers the intricacies of the corporate world. With a focus on finance and entrepreneurship, she provides readers with valuable insights into market trends, startup innovations, and economic developments.
