Russian Market

2022-04-13 17:09:38 S&P500 mixed following initial earnings

Earnings season kicked off this morning, with banks reporting the first. JPMorgan reported revenue better than forecast and the bank authorised a new $30 billion buyback plan. CEO Jamie Dimon expressed optimism about the economy, though highlighted geopolitical and economic challenges ahead. Shares are slightly lower in the premarket.

Of the 23 companies that have reported so far, 61% are beating estimates. Nevertheless, the US benchmark is lacking momentum as traders have been selling on recent rallies. If the current 4,380 support level breaks, bears are likely to push the index to retest the previous support line.

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