Higher-than-expected PPI and big banks beat Q2 estimates, market optimistic

From Nasdaq: 2024-07-12 10:19:00

Pre-markets are mixed as final trading day of the week approaches. Producer Price Index (PPI) report for June shows wholesale inflation: +0.2% MoM and +2.6% YoY, higher than expected. Core PPI also higher at +0.4% MoM and +3.0% YoY. Market shows no concern with futures up ahead of open. JPMorgan Chase beats Q2 earnings, revenue. Citigroup and Wells Fargo also beat estimates, with Citigroup shares up +3%. Wells Fargo shares down -5% on NII miss. Market optimistic despite hotter-than-expected PPI numbers.

Source: https://www.nasdaq.com/market-activity/stocks/jpm, https://www.zacks.com/stock/news/2300541/jpmorgan-chase-co-jpm-tops-q2-earnings-and-revenue-estimates, https://www.nasdaq.com/market-activity/stocks/c, https://www.nasdaq.com/market-activity/stocks/wfc, https://www.zacks.com/stock/news/2300530/wells-fargo-wfc-surpasses-q2-earnings-and-revenue-estimates

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Source: https://www.zacks.com/registration/ultimatetrader/welcome/eoffer/4e87?add=2207&adid=SYND_NASDAQ_ZU_EARNINGSREPORTB_AHEADOFWALLSTREET_07122024, https://www.zacks.com/registration/pfp/?ALERT=RPT_7BEST_NASDAQSYND&ADID=SYND_NASDAQ_7BEST_AHEADOFWALLSTREET&cid=CS-NASDAQ-FT-ahead_of_wall_street-2300874



Read more at Nasdaq: PPI Swells Higher, Big Banks Beat Q2 Estimates