Here are the most important news, trends and analyzes from which investors should start their trading day:
1. Stock futures fall as 10-year bond yields exceed 3-year high
Traders based on the NYSE, April 14, 2022
Source: NYSE
2. BofA issues stronger profits as it frees up reserves for deteriorating loans
A woman is reflected in a puddle as she passes a branch of Bank of America in Times Square in New York.
Brendan McDermid Reuters
Bank of America, the last of the big banks to report a profit, on Monday provided better-than-expected earnings of 80 cents a share on revenue of $ 23.33 billion. BofA’s decision to release $ 362 million in loan loss reserves was in contrast to JPMorgan Chase, which revealed last week that it had chosen to build up $ 902 million in reserves. JPMorgan said the profit also fell due to losses related to Russia’s sanctions. Goldman Sachs, Morgan Stanley and Citigroup exceeded expectations with stronger-than-expected trading results. Wells Fargo missed out on revenue as mortgage lending declined.
3. Elon Musk’s tweet offers an appeal directly to shareholders on Twitter
Elon Musk tweeted on Saturday, saying “Love me tenderly”, days after making an unsolicited offer of $ 43 billion to buy Twitter. After a TED talk Thursday, Musk hinted at the possibility of a hostile offer to bypass the social media company’s board and place the offer directly with shareholders.
The tweet seemed to suggest that Musk, the world’s richest man and CEO of Tesla and SpaceX, could seek to buy shares from investors in the so-called tender. Twitter adopted a “poison pill” on Friday to limit Musk’s ability to increase his stake in the company. Shares of Twitter rose more than 3.5% in stores.
4. China’s GDP for the first quarter exceeds forecasts despite the blockade of Covid
A health worker wears a protective suit while disinfecting an area outside the barricaded community that was locked for health surveillance after recent cases of COVID-19 were discovered in the area on March 28, 2022 in Beijing, China.
Kevin Freyer Getty Images
China’s gross domestic product grew 4.8% faster than expected in the first quarter, despite the impact of the Covid blockade in March. Early last month, China struggled to control its worst Covid outbreak since the start of the 2020 pandemic. Three people died on Sunday, officials in closed Shanghai said, blaming the deaths on existing health conditions. Shanghai began a two-stage blockade and mass testing of viruses in late March, which was due to end a little over a week later. But authorities have not yet set a deadline.
5. Russian strikes kill at least 7 people in Lviv, Ukrainian authorities say
Dark smoke rises after an air strike in the western Ukrainian city of Lviv on April 18, 2022.
Yuri Dyachishin AFP | Getty Images
Russian missiles hit Lviv in western Ukraine on Monday, killing at least seven people, Ukrainian authorities said, as Moscow troops stepped up infrastructure strikes in preparation for a full-scale attack in the east. Mariupol, the besieged eastern city, rejected Russia’s request to surrender. Last week, the mayor of Mariupol said 10,000 civilians had died there. “The targeting of populated areas in Mariupol is in line with Russia’s approach to Chechnya in 1999 and Syria in 2016,” the UK Defense Ministry said in an intelligence update.
– Hannah Miao, John Melloy, Sarah Min, Tanya Machil, Hugh Son, Evelyn Cheng, Natasha Turak and CNBC’s Natasha Turak and Ted Kemp, as well as Reuters and the Associated Press, contributed to this report.
– Register now for CNBC Investing Club to follow every movement of Jim Kramer’s shares. Follow broader marketing activities as a professional at CNBC Pro.
Add Comment