US stock indices recorded declines at the close of the trading session on Tuesday, July 13 (July 13), as the S&P 500 and Nasdaq lost gains at the beginning of the session, and recorded new records, to acquire the red color at the close, amid market anticipation for the testimony of US Federal Reserve Chairman Jerome Powell today, Wednesday.
Inflation in the United States of America rose by 0.9% in June after rising by about 0.6% in May, recording the largest pace of rise since June 2008, while the index rose by about 5.4% on an annual basis compared to the same period last year and compared to a rise of about 5% in May to record the largest Index reading since August 2008.
In terms of stock movement, the largest bank in the United States of America in terms of assets, JPMorgan Chase, announced revenues of $ 30.5 billion, and recorded earnings per share of $3.78 per share, compared to estimates that it recorded a profit of $ 3.5 per share, as trading revenues amounted to $ 6.8 billion. Revenues from banking services increased by 3% to reach $12.8 billion. JPMorgan’s stock closed down by about 1.72% at levels of $155.65.
Goldman Sachs posted earnings per share of $15.02, compared to expectations that it recorded earnings per share of about $10, with an increase in revenue to $15.39 billion, compared to estimates of about $12.43 billion, as investment banking revenues rose by 36% to a record $3.61 billion. The stock closed at $357.98, down by 1.19%.
The Dow Jones Industrial Average closed the session down by about 107 points at the close at 34.888 levels, a loss of about 0.31%, and is now trading in the futures for today’s session, Wednesday, at levels of 34,692, down by about 83 points.
While the S&P 500 index recorded declines at the close at 4.369 levels, down by about 15 points or 0.35%, and it is now trading in futures at 4.352 levels, down by about 9 points.
While the Nasdaq index recorded losses by (55 points), to close the session at 14.677 points, recording declines of about 0.38%, and it is now trading at 14,866 levels, up by about two points.
07/11/2024
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