My Investing Muse

3 of the Big 4 banks (JP Morgan, Citibank & Wells Fargo) have released their earnings with BlackRock before the opening of 14 Apr 2023 market. Citibank Citibanks beats both revenue and EPS estimates. EPS 2.19 versus estimate 1.7 Revenue 21.4B versus estimate 20.05B JP Morgan JPMORGAN 1Q ADJ. EARNINGS PER SHARE $4.10, EST. $3.41 JPMORGAN 1Q REV. $38.34B, EST. $36.19B Wells Fargo & Co Earnings per share: $1.23 per share GAAP versus 90 cents a year ago and $1.13 expected. Revenue: $20.73 billion versus $20.08 billion expected. The bank’s shares were up more than 3% in premarket trading after the earnings report. Wells Fargo increased its net income by more than 30% to nearly $5 billion in the first quarter from a year ago. The bank's net interest income increased 45% on the back of soaring interest rates. BlackRock BlackRock 2023Q1 earnings are out: • Revenue met estimate at $4.24B • Adj EPS beat estimate at $7.93 • AUM exceeded estimate at $9.09T • Net inflows missed estimate...

Holidays affecting markets 15 April 2022 is a public holiday for Hong Kong, the US and many other countries as Christians celebrate Good Friday and Easter Sunday.  So, it will be a shorter week for most of us. News and geopolitical outlook Covid cases in the US surge as a warning was given Dr Fauci has warned that the US may see a Covid surge in the coming Fall after 53 members of the US A-List were tested positive after a Washington dinner. The lockdown in Shanghai continues as the cases continue to surge.  The impact will hit the global market in the coming weeks.  Fortunately, this allows the US port congestion of Los Angeles and Long Beach (LALB) to ease, bringing relief to the US supply chain.  War continues as Russian troops focus their efforts on Eastern Ukraine.  More sanctions are expected to be levied on Russia.   Fed has advised a need to be more aggressive, thus spooking the market during the week.  The market is expecting a more aggr...