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By Staff Reporters
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Last week was a bit rudderless with anecdotal stories in the stock market — like Elon Musk buying a big chunk of Twitter (TWTR) — pushing and pulling market sentiment.
But, as with the heart of any earnings season, the big banks will be among the first to put up Q1 numbers. According to Zacks Director of Research Sheraz Mian in his latest Earnings Trends piece this week, all the big banks, including JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C) and Wells Fargo (WFC), have seen lower revisions ahead of the reports. This is especially true with Citi, which has higher exposure to Russia.
CITE: https://www.r2library.com/Resource/Title/082610254
And, global venture funding dropped 19% from Q4 2021 to the first quarter of this year—the steepest drop in at least four years, according to CB Insights. The number of companies that nabbed “unicorn” status (a valuation of at least $1 billion) fell to a five-quarter low.
Finally, the average number of US COVID-19 cases has hit its highest level in a month, but due to the draw-down in testing centers and the uptick of at-home tests, experts assume that many cases are going unreported. Dr. Fauci opined that we must assess our own risk levels, which reflects the US’ shift in strategy to treat Covid like an endemic disease.
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Filed under: Alerts Sign-Up, Investing | Tagged: Bank America, CitiGroup, covid, Covid-19, DJIA, Dow Jones Industrial Average, Global Venture Capital, JP Morgan, NASDAQ, pandemic, S&P, Venture Capital, Wells Fargo |
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