There is a gob of Play-Doh, newly enmeshed into my bedroom carpet. Normally, this would set off a material increase in tempers while I mentally calculate how much this is going to cost me. But it could be worse.
Wall Street ended the week on a strong note, with major indices posting their best weekly performance in years, as traders appeared confident that the escalation in the U.S.-China trade war — which led to triple-digit tariff increases on both sides — would be resolved in the near term.
Gold prices initially dipped by nearly 5% after President Donald Trump announced that the ‘Liberation Day’ tariffs would go into effect from April 2. However, since then, the yellow metal has rallied by more than 8% to set a new record high on Friday.
Dimon, who has been critical of Trump’s tariffs, said that while some companies have already withdrawn their guidance, he expects to see “more of that” going forward.
Revenue rose 17% year-over-year to $17.74 billion during the quarter, surpassing a Wall Street estimate of $16.55 billion. Earnings per share stood at $2.6 versus an estimated $2.21.
To make his case, Wright cited the 2014-2016 period, when crude oil prices fell below $30 a barrel. The shale industry got smarter and innovated to bring their costs down, he said.
Fink said in a prepared statement in the earnings report that uncertainty and anxiety about the future of markets and the economy are dominating client conversations.
Revenue rose 3% year-over-year to $20.15 billion, which failed to meet an analyst estimate of $20.76 billion, per FinChat data. Earnings per share stood at $1.39 versus a Street estimate of $1.22. Net income rose 6% to $4.89 billion.
Revenue rose 8% year-over-year to $45.31 billion, surpassing a Wall Street estimate of $44.10 billion, per FinChat data. Earnings per share came in at $5.07 versus a Street estimate of $4.65.
BNY reported a 6% year-over-year rise in first-quarter revenue to $4.79 billion, which topped a Wall Street estimate of $4.77 billion, per FinChat data. Adjusted earnings per share came in at $1.58 versus a Street expectation of $1.49.
