US market on 13 Jan 2023 (Fri). In Focus - Banks JPM, MS, BAC, WFC
When Dec CPI was announced, it wasn't a All Hell Break Loose moment. Thank goodness.
US market rallied, but it was "contained" and "moderate". As said, too much movements is "bad" for the market no ?
The Dec CPI did come in lower at 6.5% and the market heaved a sigh of relief.
However, if its thought that the worst is over, think you better think again.
I have posted a more in-depth assessment of the Dec 2022 CPI.
Click here ! to read, if interested. Show some love & give the CPI post a separate "Like" also ok. Hee Hee.
By the time the market called it a day :
- DJIA : +0.64% (+216.96 to 34,189.97).
- S&P 500 : +0.34% (+13.56 to 3,983.17).
- Nasdaq : +0.64% (+69.43 to 11,001.10). Finally the 11K mark met.
Which Index/es Is Upwards Trending ?
3 Indexes - Moving Averages for 20-day, 50-day & 200-day
- Dow Jones moving average further cement its stance as the index moved up & further away from its 200-day MA
- S&P 500 has managed to intercept its 200-day MA. If market continues to be "green" by 13 Jan (Fri) closing, S&P 500 woulde surpassed the 200-day MA; paving for a firmer uptrend momentum.
- Nasdaq although still a bit of distance to go to surpass its 200-day MA, it has nonetheless closed the "gap". "Positive" news is that it managed to claw back to its 11,000 mark ytd.
How Will US Market Closed Off This Week ?
US pre-mkt indicators / Bitcoin & Ethereum prices
- Looking at US Pre-market indicators (above diagram) - Red !
- Bitcoin & Ethereum prices for last hour & 24 hours (above diagram) - Green & Green !
- Asia markets (ASX - Green !, Nikkei - Red !, KOPSI - Green !, HSI - Green !)
- EU markets - Market hasn't opened yet.
US Market Today Belongs To The Banks' Stocks
There should still be some steam left with the Dec CPI to prop the market in the opening hours. However, I half suspect it would be the Banks stocks that would be charting the US market's direction of either "up" or "down".
Banks Releasing Their Q4 2022 Earnings Today (13 Jan):
Investment bank $Jefferies Financial Group Inc.(JEF)$ has given the above Mega Cap bank stocks a "credible" headstart on 10 Jan (Tue) when it released its Q4 2022 earnings results.
Click here ! to read, if interested. Please give a separate "like" to the post ok. Hee hee. Thanks.
Call it my 6th sense or intuition, somehow there's a hunch that JP Morgan's Q4 2022 results may not be as stellar; when compared to the other Banks'.
News article dated 12 Jan 2023
- Refer to the "strategic" released of JP Morgan incident of being duped when it purchased Fintech startup "Frank" for $175 Million; only to realized that it has < 300,000 customer data as opposed to the 4.2 Million quoted.
- The purchased was concluded in Sep 2021.
- Its only now that JP Morgan decided to wash its dirty linens in the public, on the eve of their Q4 2022 earnings report ?
- Cannot wait to find out if my premonition is true or just a washed-up conjectured. LOL!
Will Meme Stock - BBBY Contd Another Day Of Rally ?
- Including ytd, the meme stock has rallied for 5 consecutive days already.
- Ytd, it closed up +50.14% to $5.24.
- Will punters take profit today ?
- If anyone is going to risk it, do be watchful and exit at the earliest...
- Which bank/s do you think will report a stellar Q4 2022 earnings ?
- Do you think JP Morgan might fare badly due to the cheating incident ?
- Do you think Bed, Bath & Beyond will end this week with yet another rally ?
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