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Financials Up as Citigroup Surges 13% on Earnings

Dow Jones2022-07-16

Shares of banks and other financial institutions rose as earnings from some major banks were not as bad as feared.

Shares of Citigroup rose by more than 13%, cutting losses for the year to date by one third, after the global bank reported a jump in demand for financial services from companies trying to position themselves for rising interest rates.

Wells Fargo shares rose despite reporting a 48% drop in second-quarter profit, hurt by a slowdown in mortgage lending and a decline in the value of equity investments.

The world's largest money manager by assets, BlackRock, said its second-quarter profit fell 22% as a bruising stock-market downturn hurt portfolio values and spurred withdrawals. Shares of BlackRock rose in tune with the broad stock market Friday.

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  • SPOT_ON
    ·2022-07-18
    Ok
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  • HermioneG
    ·2022-07-17
    Ok
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  • SCLIEW
    ·2022-07-17
    666
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  • SCLIEW
    ·2022-07-17
    666
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  • 4West
    ·2022-07-17
    Wow
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  • tigernaut
    ·2022-07-17
    👍
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  • Victorhc88
    ·2022-07-17
    Like 
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  • Tailwind
    ·2022-07-17
    🚀
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    Fold Replies
    • Tailwind
      Nobody knows. Time will tell
      2022-11-17
      Reply
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    • valuebay
      sustainable?
      2022-07-17
      Reply
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  • Vincent1968
    ·2022-07-17
    Nice
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  • TSY123
    ·2022-07-17
    Okay 
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  • andrew123
    ·2022-07-17
    Like 
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  • TO66
    ·2022-07-17
    yes!
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  • skyblue8
    ·2022-07-17
    I like this stock! 
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  • blessed_1
    ·2022-07-16
    Ok
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  • Maverick75
    ·2022-07-16
    Up up to the moon Citigroup [USD] [USD] [USD] 
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  • WW1012
    ·2022-07-16
    Ok
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  • blessed_1
    ·2022-07-16
    Ok
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  • ppp00
    ·2022-07-16
    Please help to like 
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  • Jialatsia
    ·2022-07-16
    Meep
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  • VivianChua
    ·2022-07-16
    Nice one 👍
    Reply
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