The United States has entered the bank earnings season. After JPMorgan Chase and others announced their financial reports, their performance figures pushed up US stocks.

(Reuters)

[Instant News/Comprehensive Report] The United States has entered the bank earnings season. After JPMorgan Chase and others announced their financial reports, their performance figures pushed up US stocks.

According to comprehensive media reports, JPMorgan Chase and Bank of America's fourth-quarter profits exceeded expectations, while Wells Fargo and Citigroup's results were lower than expected. The latter each had their own reasons for their poor financial results. A 50% cut, as the fake account scandal swelled costs; Citigroup boosted reserves and slumped trading activity, leading to a drop in profits, though banks still have reserves in place to deal with a possible recession .

Please read on...

In addition, a survey by the University of Michigan showed that the rise in U.S. consumer confidence may be due to inflation expectations falling to the lowest level since the spring of 2021. This also seems to provide support for the market. This may give room for scaling back rate hikes.

In terms of ADR of Taiwan stocks, TSMC's ADR fell 0.23%, ASE's ADR fell 0.14%, and UMC's ADR fell 0.92%.

The Dow rose 112.64 points, or 0.33%, to close at 34302.61.

The Nasdaq rose 78.05 points, or 0.71%, to close at 11,079.16.

The S&P 500 rose 15.92 points, or 0.4%, to close at 3,999.09.

The Philadelphia Semiconductor Index rose 11.01 points, or 0.39%, to close at 2800.66 points.

Grasp the pulse of the economy with one hand I subscribe to Free Finance Youtube channel

Already added friends, thank you

Welcome to 【Free Finance】

feel good

Already liked it, thank you.

related news