After the Tech Sell-off: Big Bank Earnings, Hot PPI, Tesla 11-day Win Streak Snapped 7/12/24

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  • Episode
      1584
  • Published
      12. jul. 2024
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Episode
1584 of 2189
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41M
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Engelsk
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Økonomi & Business

Carl Quintanilla, David Faber and Sara Eisen wrapped up the week with market reaction to major banks kicking off earnings season -- JPMorgan Chase, Wells Fargo and Citi each posted Q2 beats, but Wells shares took a hit. The Producer Price index for June came in hotter-than-expected, one day after tamer CPI fueled investor hopes for a Fed rate cut in September. The anchors also discussed Thursday's tech selloff, Russell 2000 surge and sharp decline in "Magnificent 7" stocks. Tesla snapped its 11-day win streak on a report of a Robotaxi launch delay. On Friday, UBS slapped the EV maker with a "sell" rating. Also in focus: AT&T falls after its hack disclosure and drags another stock down with it, "2nd Half Playbook" on the chip sector.

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