Dow jumped up 193, advancers over decliners 3-2 & NAZ gained 18. The MLP index went up 2+ to the 258s & the REIT index slid back 1 to the 381s. Junk bond funds did little & Treasuries were sold while stocks were purchased. Oil climbed back to the 64s & gold added 3 to 1297.
AMJ (Alerian MLP Index tracking fund)
JPMorgan Chase (JPM) reported record Q1 profit, buoyed by higher interest rates & gains in its debt underwriting business. The largest bank in the US said in its release that EPS rose to $2.65, in Q1, beating expectations of $2.35. That’s up from $2.37 in the year-ago period. "We had record revenue and net income, strong performance across each of our major businesses and a more constructive environment," CEO Jamie Dimon said. "Even amid some global geopolitical uncertainty, the U.S. economy continues to grow, employment and wages are going up, inflation is moderate, financial markets are healthy and consumer and business confidence remains strong.” JPM is the first major lender to report its quarterly earnings. Net interest income climbed 8% to $14.6B, predominantly boosted by higher rates at the Federal Reserve. Non-net interest remained relatively steady, up 1%. The stock shot up 4+.
If you would like to learn more about JPM, click on this link:
club.ino.com/trend/analysis/stock/JPM?a_aid=CD3289&a_bid=6ae5b6f7
JPMorgan shares climb after posting record profit
Disney (DIS), a Dow stock, shares jumped after the company announced its Disney+ video streaming service would be $6.99 a month, $2 a month cheaper than Netflix's (NFLX) basic subscription. “I’m pretty optimistic about the ability for this thing to work. Particularly when you make it accessible because of the content we’re putting on, because of the user interface and because of the price,” CEO Bob Iger said. DIS will roll out in the US in Nov, & within the next 2 years, the platform will be available “in nearly all major regions of the world.” The pricing on the ad-free service is surprisingly low — $6.99 per month & $69.99 annually ($5.83 per month). Disney+ will also have multiple movies & TV series that are exclusive to the service. Those include several series from Marvel & Star Wars. DIS expects to spend about $1B in 2020 on original content for the platform & $2B by 2024. The stock soared 10+.
If you would like to learn more about DIS, click on this link:
club.ino.com/trend/analysis/stock/DIS?a_aid=CD3289&a_bid=6ae5b6f7
Disney shares surge after unveiling streaming service that's cheaper than Netflix
Good bank earnings & favirable news from Dow stocks brought out buyers. Beaten up Dow stock Boeing (BA) is also being bid up after test flights for the 737 with new software were made. Stocks surged at the opening, but since then the Dow has retreated on profit taking. Market breadth is less than impressive, indicating intital enthusiasm by buyers is fading fast.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
| CL=F | Crude Oil | 64.18 | +0.60 | +0.9% |
| GC=F | Gold | 1,290.60 | +2.00 | +0.2% |
Stocks jumped on opening as the corp earnings season began with better-than-expected results from the financial
sector, with JP Morgan Chase (JPM), a Dow stock, & Wells Fargo (WFC) leading the way. Sentiment
was helped by a large takeover in the energy sector. Dow index
member Chevron (CVX) announced plans to acquire Anadarko Petroleum (APC) for $33B in cash & stock. The deal values APC at a 37% premium to yesterday's closing stock price. Overall investors expect Q1 earnings to
be weak with the forecast for S&P 500 Q1 earnings down 4.2%. The recovery in
stock prices since Dec has stalled recently but may resume if Q1 earnings turn out better than expected, though investors
remain cautious given concerns about slowing global economic growth. Treasury note & bond yields rose given the improvement in
investor sentiment on early Q1 earnings results. The yield on
10-year notes jumped the most in a week to 2.55% & the $ weakened.
Stocks jump on bank earnings, Chevron deal
JPMorgan Chase (JPM) reported record Q1 profit, buoyed by higher interest rates & gains in its debt underwriting business. The largest bank in the US said in its release that EPS rose to $2.65, in Q1, beating expectations of $2.35. That’s up from $2.37 in the year-ago period. "We had record revenue and net income, strong performance across each of our major businesses and a more constructive environment," CEO Jamie Dimon said. "Even amid some global geopolitical uncertainty, the U.S. economy continues to grow, employment and wages are going up, inflation is moderate, financial markets are healthy and consumer and business confidence remains strong.” JPM is the first major lender to report its quarterly earnings. Net interest income climbed 8% to $14.6B, predominantly boosted by higher rates at the Federal Reserve. Non-net interest remained relatively steady, up 1%. The stock shot up 4+.
club.ino.com/trend/analysis/stock/JPM?a_aid=CD3289&a_bid=6ae5b6f7
JPMorgan shares climb after posting record profit
Disney (DIS), a Dow stock, shares jumped after the company announced its Disney+ video streaming service would be $6.99 a month, $2 a month cheaper than Netflix's (NFLX) basic subscription. “I’m pretty optimistic about the ability for this thing to work. Particularly when you make it accessible because of the content we’re putting on, because of the user interface and because of the price,” CEO Bob Iger said. DIS will roll out in the US in Nov, & within the next 2 years, the platform will be available “in nearly all major regions of the world.” The pricing on the ad-free service is surprisingly low — $6.99 per month & $69.99 annually ($5.83 per month). Disney+ will also have multiple movies & TV series that are exclusive to the service. Those include several series from Marvel & Star Wars. DIS expects to spend about $1B in 2020 on original content for the platform & $2B by 2024. The stock soared 10+.
If you would like to learn more about DIS, click on this link:
club.ino.com/trend/analysis/stock/DIS?a_aid=CD3289&a_bid=6ae5b6f7
Consumer outlook on the US economy worsened in Apr, as a
survey suggested the impact of tax cuts has now run its course for US
consumers. The University of Michigan said its preliminary
index of consumer sentiment was 96.9 this month, down from Mar's
final reading of 98.4.
Disney shares surge after unveiling streaming service that's cheaper than Netflix
Good bank earnings & favirable news from Dow stocks brought out buyers. Beaten up Dow stock Boeing (BA) is also being bid up after test flights for the 737 with new software were made. Stocks surged at the opening, but since then the Dow has retreated on profit taking. Market breadth is less than impressive, indicating intital enthusiasm by buyers is fading fast.
Dow Jones Industrials
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