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Why Are Stocks Down Today?

02:15pm, Friday, 12'th Jan 2024
With stocks down today, it appears many investors are taking a cautious approach to this current environment. Earnings season has just begun, with several large banks kicking off the festivities.
The Big Four banks — JPMorgan Chase (JPM), Citigroup (C), Bank of America (BAC), and Wells Fargo (WFC) — released their fourth-quarter earnings Friday morning, some with mixed results. JPMorgan, h
Wells Fargo , Bank of America and Citigroup reduced their workforces by a combined 17,700 last year, the banking giants reported in their fourth-quarter earnings on Friday.

Breaking down big bank earnings

01:40pm, Friday, 12'th Jan 2024
The Investment Committee breaks down the significant bank earnings and picks their favorite name in the sector.
Shares of Wells Fargo & Co. (WFC) were down almost 4% Friday after the bank warned interest income could fall significantly in 2024 as borrowing costs decline.
A 3% drop by lunchtime on Friday should tell you everything you need to know about the market's reaction to Wells Fargo & Company's NYSE: WFC earnings report. While the finer details will need to be

Banks Can't Count on Loans For Growth

12:06pm, Friday, 12'th Jan 2024
As interest rates fall, growing loans is getting more important, but also trickier.
Many of today's PPI metrics clearly point to low-growth elements within the wholesale market.
Baird's David George and CFRA's Ken Leon join 'Squawk on the Street' to discuss how investors should be positioning in big banks.
Wells Fargo & Company (NYSE:WFC) reported fourth-quarter revenue and earnings that came in ahead of expectations as it benefited from the strong economic environment and high interest rates. However,
Stephanie Link, Hightower chief investment strategist and portfolio manager, joins 'Squawk Box' to break down the latest bank quarterly earnings results, impact on stock performance outlook, and more.
Wells Fargo shares fell Friday even after fourth-quarter profit rose from a year ago.
Wells Fargo & Co (NYSE: WFC), on January 12th, reported a 9.0% increase in its fourth-quarter net income on the back of a 17% jump in noninterest income. Why is Wells Fargo stock trending down?
Shares of Wells Fargo & Co. WFC, -0.08% dropped 1.8% toward a one-month low after the California-based bank reported fourth-quarter profit that just matched expectations and credit-loss provisions cli
Markets managed to absorb a somewhat hotter-than-expected U.S. consumer inflation reading for December without much drama.
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