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Market News

Location American Market News for 15 July 2022

Hoarding Cash? Don't Swing at Every Yield Pitch

Wall Street Journal - 15 Jul 2022 17:08
Fintech apps are offering outsize returns on your cash. A look under the hood shows their flashy marketing can hide potential pitfalls, and you won't always get the same safeguards a regular bank offers.
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Citigroup's Second Quarter Profit Falls 27%

Wall Street Journal - 15 Jul 2022 14:25
The bank's profit was reduced by a $375 million charge to set aside funds for potential future loan losses.
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Analysts and investors have been closely poring over bank results for any signs of stress on the U.S. economy.
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Citigroup, the cheapest of the six biggest U.S. banks from a valuation perspective, has declined 27% this year, hitting a fresh 52-week low on Thursday.
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Merck Deal for Seagen Seen as Unlikely by Earnings Release

Wall Street Journal - 15 Jul 2022 23:30
The deal talks are still on track but coming data and arbitration slowed the timeline, people familiar with the matter say.
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The Long And The Short Of Investing In 2022

Forbes - 15 Jul 2022 23:10
The Long And The Short Of Investing In 2022 As the market volatility continues, many investors are wondering what the second half of 2022 will look like.
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Pinterest Investors Should Buy Elliott's Vision

Wall Street Journal - 15 Jul 2022 21:13
Investors have reason to believe Elliott Management's involvement should make for an effective wake-up call to a company stuck in the clouds.
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Citigroup Shows Upside in Deposit Downdraft

Wall Street Journal - 15 Jul 2022 20:17
New deposits may be harder to come by, which will increase investors' focus on how banks like Citigroup are wringing the most revenue out of customers' cash.
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Is There Upside To Walmart's Stock?

Forbes - 15 Jul 2022 18:00
Is There Upside To Walmart's Stock? After a 13% decline year-to-date, at the current price of around $125 per share, we believe Walmart stock (NYSE: WMT), the world's largest retailer by revenue - could see more gains.
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Apps like Bumble and Tinder are doing booming business. But finding love is never easy, and finding love online comes with its own set of pitfalls.
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Does The 60/40 Portfolio Still Make Sense?

Forbes - 15 Jul 2022 17:10
Does The 60/40 Portfolio Still Make Sense? Is the 60/40 portfolio dead? Commonwealth CIO Brad McMillan says not so fast.
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Why Has Littelfuse Stock Failed To Outperform The S&P, Despite Strong Sales Growth? Littelfuse Inc. (NASDAQ: LFUS) stock price rose around 40% from $172 in 2018 end to $240 currently, primarily due to favorable changes in its revenue.
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What To Expect From Bank Of America Stock In Q2? Bank of America (NYSE: BAC) is scheduled to report its fiscal Q2 2022 results on Monday, July 18, 2022.
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Consumer Spending Still Strong

Forbes - 15 Jul 2022 15:04
Consumer Spending Still Strong On an intraday basis, assets have moved around quite a bit but lighter volume has resulted in overall net changes being relatively muted.
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China Is in Trouble, Even With Sliver of Growth

Wall Street Journal - 15 Jul 2022 15:01
New threats to the beating heart of the economy--housing--and an increase in Covid-19 cases suggest dangerous shoals ahead.
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With Russia Kicked Out Of U.S. Capital Markets, Kazakhstan's New IPOs Might Be Perfect Timing At long last, KazMunayGas is going public. Kazakhstan's fossil fuels giant should do well given the West's ban on Russian oil and gas investments.
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Should You Buy, Sell, Or Hold Anheuser-Busch InBev Stock At $55? This marks an underperformance compared to some of its peers and the broader markets, with Diageo stock (NYSE: DEO) rising 3%, Molson Coors Beverage stock (NYSE: TAP) up 8%, and the S&P 500 index rising 17% over the same...
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The Bad News May Not Be Over For Equities

Forbes - 15 Jul 2022 14:00
The Bad News May Not Be Over For Equities Where the U.S. equity market ultimately troughs will depend upon how well the economy holds up and where earnings head. Jeff Schulze of ClearBridge Investments provides his market outlook for the near-term.
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Wells Fargo Quarterly Profit Declines 48%

Wall Street Journal - 15 Jul 2022 13:49
The bank's profit and revenue for the quarter missed expectations as it set aside $235 million in new funds to cover potential losses. Investors are paying attention to big-bank earnings for signs about whether a recessi...
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3 DICGC-insured banks offering inflation-beating returns on tax saving FDs The most popular investment choice for tax savers is tax saver fixed deposits, which allow investors to claim tax deductions annually up to ₹1.5 lakh under Section 80C of the Income Tax Act of 1961.
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BlackRock Profit Falls 22%

Wall Street Journal - 15 Jul 2022 13:41
The firm's assets under management decreased to $8.5 trillion, from $9.6 trillion in the first quarter.
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The healthcare and health-insurance company posts double-digit revenue growth in both its Optum and UnitedHealthcare units.
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