Here are the most important news, trends and analysis investors need to start their trading day:
Traders on the floor of the New York Stock Exchange, April 14, 2022.
A woman is reflected in a puddle as she walks past a Bank of America branch in New York’s Times Square.
Brendan McDermid | Reuters
Bank of America, the last of the major banks to report earnings, on Monday delivered a better-than-expected profit of 80 cents a share on revenue of $23.33 billion. BofA’s decision to release $362 million in loan loss reserves contrasted with JPMorgan Chase, which revealed last week that it had opted to accumulate reserves of $902 million. JPMorgan said earnings also slumped due to losses linked to Russian sanctions. Goldman Sachs, Morgan Stanley Y Citi Group each exceeded expectations with stronger-than-expected business results. fargo wells loss of income due to the decrease in mortgage loans.
Elon Musk posted a tweet on Saturday, saying “Love me tenderly”, days after making an unsolicited $43 billion cash offer to buy Twitter. After a TED talk on Thursday, Musk hinted at the possibility of a hostile bid, in which he would bypass the social media company’s board and make the offer directly to shareholders.
The tweet seemed to imply that Musk, the world’s richest person and CEO of Tesla and SpaceX, could seek to buy shares from investors in what is called a takeover bid. Twitter on Friday adopted a “poison pill” to limit Musk’s ability to increase his stake in the company. Twitter shares rose more than 3.5% in premarket.
A health worker wears a protective suit as he disinfects an area outside a barricaded community that was put on lockdown for health monitoring after recent cases of COVID-19 were found in the area on March 28, 2022 in Beijing, China. .
Kevin Frayer | fake images
China’s first quarter gross domestic product grew up 4.8% faster than expected despite the impact of Covid lockdowns in March. Since last month, China has struggled to contain its worst Covid outbreak since the early phase of the pandemic in 2020. three people have died as of Sunday, Shanghai officials said in lockdown, attributing the deaths to pre-existing health conditions. Shanghai began a two-stage lockdown and massive virus testing in late March that was supposed to stop just over a week later. But authorities have not yet set a completion date.
Dark smoke rises after an airstrike in the western Ukrainian city of Lviv on April 18, 2022.
Yuri Dyachishyn | AFP | fake images
Russian missiles struck Lviv in western Ukraine on Monday, killing at least seven people. Ukrainian officials said, as Moscow troops intensified attacks on infrastructure in preparation for an all-out assault in the east. Mariupol, the besieged eastern city, Has refused Russia’s demand to surrender. The mayor of Mariupol said last week that 10,000 civilians have been killed there. “The targeting of populated areas within Mariupol aligns with Russia’s approach to Chechnya in 1999 and Syria in 2016,” the UK Ministry of Defense said in an intelligence update.