JPM beats, but warns , OIL @ 91 $ a bbl Stocks are in retreat on an earnings-filled day on Wall Street.
JPMorgan Chase and Wells Fargo reported better-than-expected first-quarter earnings, kicking off the quarterly reporting season for the biggest U.S. banks. BlackRock’s earnings and revenue also topped analysts’ expectations.
Still, JPMorgan issued a muted outlook for the rest of the year.
U.S. stocks fell, while the 10-year Treasury bond yield hovered near 4.5%. Indexes of both big and regional bank shares fell Friday.
Benchmark Brent crude futures rose toward $91 a barrel, driven by Israel-Iran tensions. Higher oil prices will make it harder for inflation to subside to the Federal Reserve’s 2% target.
SAME FOR BOC...