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Wall St dragged down by financials after mixed results from big banks

By Bansari Mayur Kamdar and Shreyashi Sanyal (Reuters) - Wall Street's main indexes fell on Friday as declines among heavyweight financial stocks led by JPMorgan made for a weak...
Wall St dragged down by financials after mixed results from big banks © Reuters. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 12, 2022. REUTERS/Brendan McDermid

By Bansari Mayur Kamdar and Shreyashi Sanyal

(Reuters) - Wall Street's main indexes fell on Friday as declines among heavyweight financial stocks led by JPMorgan made for a weak start to the fourth-quarter earnings season.

Eight of the 11 major S&P 500 sectors fell in early afternoon trading, with financials falling 1.3%. The S&P 500 banks index slid 1.8% from a record high hit in the previous session.

JPMorgan Chase & Co (NYSE:JPM) tumbled 5.3% on reporting weaker performance at its trading arm, even as it beat earnings expectations for the fourth quarter.

The bellwether lender also warned that soaring inflation, looming threat of Omicron and trading revenues returning to normal levels are set to challenge the banking industry's growth in the coming months.

Citigroup Inc (NYSE:C) fell 2.2% after posting a 26% drop in fourth-quarter profit, while asset manager BlackRock Inc (NYSE:BLK) fell 1.6% after missing quarterly revenue expectations.

"You have the banks hit on their earnings today and that's turned into a 'sell value, buy tech' type of warning and that's typically what we've been seeing," said Dennis Dick, markets structure analyst and proprietary trader at Bright Trading LLC in Las Vegas.

"So the money just keeps rotating back and forth between value and growth."

Wells Fargo (NYSE:WFC) & Co, on the other hand, gained 3.3% after posting a bigger-than-expected rise in fourth-quarter profit.

Financials have outperformed the broader S&P 500 index on expectations of interest rate hikes by the Federal Reserve, firming Treasury yields and a rotation out of growth sectors such as technology, communication services and consumer discretionary.

Dick said investors will end up buying the dip in banks because a lot of them are still looking to put money into more value-oriented names and see it as a value-oriented market right now.

Analysts see S&P 500 companies earnings rising 23.1% in the fourth quarter, according to IBES data from Refinitiv.

Megacap growth companies including Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), Tesla (NASDAQ:TSLA) and Meta were mixed a day after a selloff.

Data showed retail sales tumbled in December on shortages of goods and an explosion of COVID-19 infections, while separately, soaring inflation hit U.S. consumer sentiment in early January, which fell to the second lowest level in a decade.

At 12:05 p.m. ET the Dow Jones Industrial Average was down 279.84 points, or 0.77%, at 35,833.78, the S&P 500 was down 18.69 points, or 0.40%, at 4,640.34 and the Nasdaq Composite was down 14.75 points, or 0.10%, at 14,792.06.

Casino operators Las Vegas Sands (NYSE:LVS), MGM Resorts (NYSE:MGM), Wynn Resorts (NASDAQ:WYNN) and Melco Resorts advanced between 0.2% and 16.6% after Macau's government capped the number of new casino operators allowed to operate to six with an operating period of up to 10 years.

U.S. stock markets will remain shut on Monday on account of a public holiday.

Declining issues outnumbered advancers for a 2.96-to-1 ratio on the NYSE and for a 2.54-to-1 ratio on the Nasdaq. The S&P index recorded 24 new 52-week highs and one new low, while the Nasdaq recorded 40 new highs and 496 new lows.

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26-01-2022 10:39:50 (UTC+7)

EUR/USD

1.1276

-0.0023 (-0.20%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (5)

EUR/USD

1.1276

-0.0023 (-0.20%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (5)

GBP/USD

1.3498

+0.0002 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (9)

Sell (1)

USD/JPY

114.32

+0.46 (+0.40%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (10)

AUD/USD

0.7157

+0.0009 (+0.13%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (5)

Sell (1)

USD/CAD

1.2618

-0.0009 (-0.07%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

EUR/JPY

128.91

+0.26 (+0.20%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (9)

EUR/CHF

1.0382

+0.0008 (+0.08%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

Gold Futures

1,833.20

-19.30 (-1.04%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Silver Futures

23.802

-0.094 (-0.39%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (5)

Copper Futures

4.4912

+0.0412 (+0.93%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

Crude Oil WTI Futures

87.28

+1.68 (+1.96%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Brent Oil Futures

88.80

+1.62 (+1.86%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Natural Gas Futures

4.093

+0.199 (+5.11%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (10)

US Coffee C Futures

238.43

+0.53 (+0.22%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (4)

Sell (5)

Euro Stoxx 50

4,150.95

+72.69 (+1.78%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

Sell (7)

S&P 500

4,399.60

+43.15 (+0.99%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (8)

DAX

15,406.56

+282.69 (+1.87%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (5)

FTSE 100

7,462.35

+90.89 (+1.23%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (8)

Hang Seng

24,289.90

+46.29 (+0.19%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

US Small Cap 2000

2,020.90

+16.10 (+0.80%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (0)

Sell (11)

IBEX 35

8,618.61

+139.11 (+1.64%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (2)

Sell (5)

BASF SE NA O.N.

67.070

+1.740 (+2.66%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (6)

Bayer AG NA

51.33

+0.51 (+1.00%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Allianz SE VNA O.N.

223.93

+3.88 (+1.76%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Adidas AG

243.60

+5.85 (+2.46%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Deutsche Lufthansa AG

7.029

+0.352 (+5.27%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

Siemens AG Class N

140.72

+2.20 (+1.59%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (10)

Deutsche Bank AG

11.359

+0.285 (+2.57%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (6)

 EUR/USD1.1276Sell
 GBP/USD1.3498↑ Buy
 USD/JPY114.32↑ Sell
 AUD/USD0.7157Buy
 USD/CAD1.2618Sell
 EUR/JPY128.91↑ Sell
 EUR/CHF1.0382↑ Sell
 Gold1,833.20↑ Sell
 Silver23.802Sell
 Copper4.4912Buy
 Crude Oil WTI87.28↑ Buy
 Brent Oil88.80↑ Buy
 Natural Gas4.093↑ Sell
 US Coffee C238.43Sell
 Euro Stoxx 504,150.95↑ Sell
 S&P 5004,399.60↑ Sell
 DAX15,406.56Sell
 FTSE 1007,462.35↑ Sell
 Hang Seng24,289.90↑ Buy
 Small Cap 20002,020.90↑ Sell
 IBEX 358,618.61Sell
 BASF67.070↑ Sell
 Bayer51.33↑ Sell
 Allianz223.93↑ Sell
 Adidas243.60↑ Sell
 Lufthansa7.029↑ Sell
 Siemens AG140.72↑ Sell
 Deutsche Bank AG11.359↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,190/ 6,240
(-5/ -5) # 1,175
SJC HCM6,180/ 6,245
(-10/ -10) # 1,179
SJC Hanoi6,180/ 6,247
(-10/ -10) # 1,181
SJC Danang6,180/ 6,247
(-10/ -10) # 1,181
SJC Nhatrang6,180/ 6,247
(-10/ -10) # 1,181
SJC Cantho6,180/ 6,247
(-10/ -10) # 1,181
Cập nhật 26-01-2022 10:39:52
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RON 95-IV2486025350
RON 95-II,III
E5 RON 92-II2359024060
DO 0.05S1890019270
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Dầu hỏa1779018140
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Ngoại tệMua vàoBán ra
USD22.460,0022.770,00
EUR24.918,8126.315,80
GBP29.789,2431.061,45
JPY192,82204,12
KRW16,3519,92
Cập nhật lúc 18:54:49 26/01/2022
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