Posted on 07/14/2022 4:15:57 AM PDT by John W
Stock futures fell Thursday as traders assess the possibility of even tighter U.S. monetary policy on the back of a hot inflation report. Traders also pored over key quarterly results.
Dow Jones Industrial Average futures shed 437 points, or 1.4%. S&P 500 futures were 1.4% lower, and Nasdaq 100 futures lost 1%.
Futures added to their losses after JPMorgan Chase reported quarterly earnings that missed analyst expectations. The stock fell more than 4% in premarket trading. Morgan Stanley is also set to report Thursday.
The consumer price index rose 9.1% on the year in June, higher than a Dow Jones estimate for an 8.8% year-over-year increase. Core CPI, which excludes volatile prices of food and energy, was 5.9%, also ahead of a 5.7% estimate.
In addition, the Beige Book, released Wednesday by the Fed showed worries of an upcoming recession amid high inflation.
(Excerpt) Read more at stocks.apple.com ...
It’s all by design.
Dang. Still sitting on cash to buy on the dips but the dips keep on coming.
The Dow is down 1.46% in premarket trading. Today may not be the day.
There’s over 2 trillion in overnight reverse repos- cash sitting on the sidelines- that will probably prop the market up at some point.
Hmmm.... getting awfully close to where the market was on Feb. 11, 2020 just before it’s ‘pandemic slide’ where it dropped about 1/3 over the course of a month.
LMT, NOC, Raytheon if recession continues or deepens.
JPM and MS profits down 28% and 29%, respectively. JPM set aside another $428 million to cover potential future loan losses.
Wait until next spring. WAIT.
there is going to be so much opportunity after this screw-up
Even if they change the currency...
Beware of the ‘bail-in’ and ‘haircut’
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