New Capital- Start of Earning Season Lifts US Spirits

2020-04-17 07:13
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Investors remained cautious throughout the week as they awaited the start of earnings season. On Friday JP Morgan and Wells Fargo kicked things off for the US and both banks topped analysts’ expectations. Shares in JP rose almost 4% after posting the largest ever first quarter profit of a US bank. While this is a positive start, the S&P 500 is expected to see its first year-on-year contraction in earnings since 2016.

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