Main US indexes modestly green
Healthcare leads S&P 500 sector gainers; Energy weakest group
Dollar down; crude dips%; gold up ~1%; bitcoin up >2%
US 10-Year Treasury yield falls to ~4.45%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
US BANK SHARES EASE AS SECOND BATCH OF BIG FIRMS REPORT
Shares of big U.S. banks are mostly lower on Wednesday after a second group of results from key financial firms. The S&P 500 banks index .SPXBK is down 0.3% in afternoon trading.
Goldman Sachs GS.N shares are up 0.3% after it posted a gain in second-quarter profit, while Morgan Stanley MS.N shares are down 2.5% even as it also reported a profit increase, while Bank of America BAC.N is down 1.1%.
Some of the earnings news is being overshadowed by a Bloomberg news report that U.S. President Donald Trump could possibly replace Federal Reserve Chair Jerome Powell, while Reuters reported, citing a source, that Trump is open to the idea of firing Powell. Trump was quick to deny the reports.
On Tuesday, JPMorgan Chase JPM.N slipped 0.7% despite raising its 2025 net interest income outlook, while Wells Fargo WFC.N fell 5.5% even as its profit rose on reduced loan-loss reserves. In addition, BlackRock BLK.N hit a new milestone for assets under management, yet its shares slid 5.9%.
Those reports on Tuesday essentially kicked off the latest reporting period.
"Comparisons get tougher because last earnings season, early 1Q 2025 reporters faced large estimate cuts as tariffs and global trade issues weighed on outlooks," Nick Raich, CEO of The Earnings Scout, writes in a note.
(Caroline Valetkevitch)
*****
EARLIER ON LIVE MARKETS:
BOFA CLIENTS ARE NET SELLERS FOR A THIRD WEEK IN A ROW CLICK HERE
THE RULE OF THREES: PPI, INDUSTRIAL PRODUCTION, MORTGAGES CLICK HERE
U.S. STOCKS SEARCH FOR DIRECTION IN EARLY TRADE CLICK HERE
EQUAL-WEIGHT S&P 500 HITS 22-YEAR LOW VS CAP-WEIGHTED BENCHMARK CLICK HERE
TIME TO LOOK AT EUROPE'S BEATEN-DOWN EXPORTERS? CLICK HERE
$1.30 AND BEYOND FOR THE EURO, SAY MORGAN STANLEY CLICK HERE
THE GREAT EURO ZONE EMPLOYMENT SPLIT IS GOOD FOR THE ECB CLICK HERE
"NOT THE MARKET TO MISS": UBS FLAGS FRAGILE BANK RALLY CLICK HERE
SOME BIG POST-RESULTS STOCK FALLS CLICK HERE
EUROPE BEFORE THE BELL: EARNINGS GET GOING CLICK HERE
MORNING BID EUROPE: TARIFF IMPRINT SPIED IN US CPI CLICK HERE
