U.S. close: Shares mixed after wave of bank profits

The main Wall Street indexes closed in a mixed state on Wednesday, as second quarter profits for some of the nation’s biggest banks were recorded.

At the close, the Dow Jones Industrial Average was up 0.13% to 34,933.23 and the S&P 500 added 0.12% to 4,374.30, while the Nasdaq Composite slipped 0.22% to 14,644.95.

The Dow Jones closed 44.44 points higher on Friday, reversing some of the losses from the previous session as higher-than-expected inflation figures weighed on sentiment.

As inflation fears faded somewhat on Wednesday, the main focus of the session was again earnings, with several big names reporting ahead of the open.

On a macro level, the number of Americans applying for a mortgage increased in the week ending July 9, according to the Mortgage Bankers Association, with its seasonally adjusted market index up 16.0% week over week.

This growth is the result of a 20.4% increase in requests for refinancing of existing loans and an 8.3% increase in requests to purchase a home.

Elsewhere, the producer price index soared, rising 7.3% in the 12 months to June, the largest year-over-year increase since November 2010.

Analysts had expected a rise closer to 6.8%.

In actions, Bank of America was down 2.51% after posting revenue of $ 21.6 billion in the second quarter, just short of estimates for an impression of $ 21.8 billion, while earnings per share of 77 cents 77 per share was 108% higher year over year.

Black rock lost 3.06% after reporting second-quarter earnings of $ 1.38 billion on net earnings of $ 8.92 per share, beating Wall Street expectations.

Citigroup fell 0.29% after its quarterly profits more than quintupled year-on-year, with profits of $ 6.19 billion, or $ 2.85 per share, aided by an improving U.S. economy resulting in less of bad debts than expected in its books.

Wells fargo went the other way to peers, up 3.98% after posting better-than-expected second-quarter profits, with three-month total revenue as of June 30 of $ 20.27 billion of $ 18.29 billion a year earlier, and $ 18.53 billion in the first quarter, as the US lender reduced the amount it had set aside to cover bad debts.

Old transporter Delta Airlines, meanwhile, fell 1.57% even after posting its first quarterly profit since the Covid-19 pandemic decimated the industry over a year ago, with a profit of 652.0 million dollars in the second quarter.

However, without $ 1.5 billion in federal pandemic relief and various one-off events, the airline would have recorded an adjusted loss of $ 678.0 million, or $ 1.07 per share.

Dow Jones – Elevators

Apple Inc. (AAPL) $ 149.15 2.41%
Coca-Cola Co. (KO) $ 56.26 2.25%
3M Co. (MMM) $ 202.83 1.62%
Visa inc. (V) $ 245.99 1.50%
Cisco Systems Inc. (CSCO) $ 54.09 1.44%
Travelers Company Inc. (TRV) $ 154.53 1.01%
Procter & Gamble Co. (PG) $ 137.98 0.74%
Walmart Inc. (WMT) $ 141.55 0.69%
Home Depot Inc. (HD) $ 319.22 0.68%
Johnson & Johnson (JNJ) $ 170.42 0.68%

Dow Jones – Fallers

Chevron Corp. (CLC) $ 102.00 -1.89%
Caterpillar Inc. (CAT) $ 211.64 -1.65%
Boeing Co. (BA) $ 224.45 -1.64%
Walgreens Boots Alliance, Inc. (WBA) $ 46.88 -0.93%
Unitedhealth Group Inc. (UNH) $ 414.74 -0.91%
Salesforce.Com Inc. (CRM) $ 242.43 -0.65%
Intel Corp. (INTC) $ 56.52 -0.62%
Dow Chemical Co. (DOW) $ 62.32 -0.61%
Goldman Sachs Group Inc. (GS) $ 374.40 -0.42%
JP Morgan Chase & Co. (JPM) $ 155.12 -0.34%

S&P 500 – Elevators

Jefferies Financial Group Inc. (I F) $ 33.64 5.39%
Wells Fargo & Co. (WFC) $ 44.95 3.98%
Perrigo Company plc (PRGO) $ 47.44 3.11%
American Airlines Group (AAL) $ 20.62 3.00%
Apple Inc. (AAPL) $ 149.15 2.41%
Coca-Cola Co. (KO) $ 56.26 2.25%
CH Robinson Worldwide Inc (CHRW) $ 94.65 2.19%
Juniper Networks Inc. (JNPR) $ 28.05 2.19%
Kimco Realty Corp. (KIM) $ 21.39 2.00%
Citrix Systems Inc. (CTXS) $ 115.78 1.94%

S&P 500 – Fallers

Occidental Petroleum Corp. (OXY) $ 27.83 -7.48%
Cimarex Energy Co (XEC) $ 69.00 -6.20%
Diamondback Energy Inc. (FANG) $ 84.58 -6.06%
Devon Energy Corp. (DVN) $ 27.30 -5.76%
Apache Corp. (APA) $ 19.04 -5.60%
Cabot Oil & Gas Corp. (COG) $ 16.81 -4.97%
Illumina Inc. (ILMN) $ 460.92 -4.67%
Marathon Oil Corp. (MRO) $ 12.52 -4.57%
Hess Corp. (HES) $ 80.39 -4.19%
Valero Energy Corp. (VLO) $ 67.67 -3.97%

Nasdaq 100 – Risers

American Airlines Group (AAL) $ 20.62 3.00%
Apple Inc. (AAPL) $ 149.15 2.41%
Citrix Systems Inc. (CTXS) $ 115.78 1.94%
QUALCOMM Inc. (QCOM) $ 143.75 1.82%
Ross Inc. Stores (ROST) $ 124.89 1.81%
JB Hunt Transport Services Inc. (JBHT) $ 169.63 1.63%
Cisco Systems Inc. (CSCO) $ 54.09 1.44%
Asml Holdings SA (ASML) $ 716.51 1.43%
Netflix Inc. (NFLX) $ 547.95 1.34%
Seagate Technology Plc (STX) $ 89.62 1.27%

Nasdaq 100 – Falls

Illumina Inc. (ILMN) $ 460.92 -4.67%
Liberty Global plc Series A (LBTYA) $ 25.60 -2.66%
Mercadolibre Inc. (MELI) $ 1,507.01 -2.66%
Liberty Global plc Series C (LBTYK) $ 25.65 -2.55%
Tesla Inc (TSLA) $ 653.38 -2.27%
Biomarin Pharmaceutical Inc. (BMRN) $ 79.68 -2.23%
Nvidia Corp. (NVDA) $ 793.66 -2.02%
Baidu Inc. (BIDU) $ 181.34 -1.76%
Hologic Inc. (HOLX) $ 67.56 -1.59%
JD.com, Inc. (JD) $ 75.45 -1.40%

About William W.

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