Stock Market News Today | Big Bank Earnings—Goldman Sachs, JPMorgan, Citigroup In Focus

3 months ago

U.S. stock futures declined on Tuesday following Monday’s reversal rally. Futures of major benchmark indices were lower.

Leading the charge on Monday, Oracle (NYSE:ORCL) shares jumped more than 5%, while Nvidia (NASDAQ:NVDA) gained almost 3%. Broadcom (NASDAQ:AVGO) soared around 10% after OpenAI pledged a $500-billion investment to co-develop 10 gigawatts of custom AI accelerators with the chipmaker.

Transcript

00:00all right futures under pressure here today S&P futures down 0.93 percent Dow futures down 0.66

00:14percent and Nasdaq leading the way lower at minus 0.12 percent gold futures up by nearly two percent

00:22here in the pre-market uh let's go to our cues from the last session information technology

00:29consumer discretionary and communication services stocks recorded the biggest gains on Monday

00:35leading most sectors on the S&P 500 to a positive close however consumer staples and health care

00:42stocks bucked the overall market trend closing the session lower this rally saw U.S. stocks settle

00:48higher with the Nasdaq composite gaining more than two percent as President Trump softened his tone

00:54on China reversing Friday sell-off and reigniting risk appetite

01:00leading the charge on Monday was Oracle ticker ORCL shares jumped more than five percent while

01:08Nvidia gained almost three percent and Broadcom soared around 10 percent after OpenAI pledged a

01:15500 billion dollar investment to co-develop 10 gigawatts of custom AI accelerators with the chip

01:21maker treasury secretary Scott Besant said the ongoing government shutdown has started to affect the

01:28real economy and accused the mainstream media of quote downplaying the shutdown end quote to quote

01:34avoid embarrassing Democrats end quote further exacerbating the public's understanding of the

01:40situation's severity meanwhile the 10-year treasury bond yielded 4.01 percent and the two-year bond at

01:473.47 percent remember we would really like to see that treasury bond yield under 4 percent so we're

01:53moving in the right direction but not quite there yet we do have some stocks in focus here today because

01:59this morning or today is the start of the new earnings season we kicked it off with the banks here today

02:05first one on the list is going to be Goldman Sachs they fell six tenths ahead of its earnings before the

02:11opening bell analysts estimate $11 per share on revenue of 14.1 billion Goldman Sachs had an EPS of

02:1912.25 which beat that estimate and sales of 15 billion which beat the 14.1 billion estimate Goldman Sachs

02:27trading lower now in the pre-market despite that beat the conference call is ongoing JP Morgan was up

02:35five tenths as analyst earnings estimates of 484 per share on revenue of 45.39 billion JP Morgan had an EPS

02:45of 507 which beat the 484 estimate and sales of 47.12 billion that ended up beating the 45 billion

02:53dollar estimate JP Morgan too trading lower here today closed at 307.97 yesterday currently trading

03:01exactly at 307 now so down marginally but still down on the back of that beat Johnson and Johnson

03:09ticker JNJ that was 0.23 percent lower ahead of its earnings before the opening bell analysts estimate

03:17earnings of 275 per share on revenue of 23.74 billion Johnson and Johnson did an EPS of 280 which beat

03:27that 275 estimate and sales were 23.99 billion versus the 23.74 billion that was estimated Johnson

03:36and Johnson here in the pre-market currently sitting at 190.90 pretty much right where it closed Johnson

03:41and Johnson shares flat here Citigroup also slated to report earnings Citigroup was 0.44 percent higher as

03:51analysts estimates for earnings per share of 190 on a revenue of 21.09 billion before the opening bell I

04:01actually don't have Citigroup's earnings here yet I'm not sure that they've reported Citigroup here in

04:06the pre-market currently sitting at 96.40 it closed at 96.10 so roughly flat here today last stock on our list

04:14here is Polaris shares climbed 10.98 percent as it entered into a definitive agreement to sell a majority

04:20stake in Indian motorcycle to an independent private equity firm Carolwood LP that is ticker PII players

Stock Market News Today | Big Bank Earnings—Goldman Sachs, JPMorgan, Citigroup In Focus | Oct 14

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