Stocks are mostly higher on strong Q3 bank earnings, with mixed global market performances.

From Nasdaq: 2024-10-11 12:14:37

The S&P 500 is up 0.15%, Dow Jones is up 0.46%, and Nasdaq 100 is down 0.36%. The market is mixed with bank stocks boosting overall performance after strong Q3 earnings from JPMorgan Chase and Wells Fargo.

US Sep producer price index is up, affecting T-note yields negatively. Tensions in the Middle East, particularly between Israel and Hezbollah in Lebanon, contribute to market uncertainty. Earnings reports from S&P 500 companies could influence stock direction.

European and Asian markets show mixed performances. Interest rates are down for December 10-year T-notes due to negative carryover from European bonds. Rising inflation expectations impact bond yields, with swaps predicting a rate cut by the ECB.

Stock movers include Uber (+6%), Wells Fargo (+4%), JPMorgan Chase (+3%), Atlassian (+3%), Blackrock (+2%), and Fastenal (+4%). Affirm Holdings and United Natural Foods are also up. Tesla leads losers after Elon Musk’s robotaxi Cybercab announcement. A.O. Smith and Walgreens show declines.

Stellantis NV (-4%) sees a drop after management changes. Toast Inc (-1%) faces insider selling concerns. Earnings reports on 10/11 include Bank of New York Mellon, Blackrock Inc, Fastenal Co, JPMorgan Chase & Co, and Wells Fargo & Co.



Read more at Nasdaq: Stocks Mostly Higher on Strong Q3 Bank Earnings Results