as the banks benefited from a surge in interest rates. The banks also offered a solid outlook on future net interest income, and JPMorgan's CEO said the economy remains resilient.
"The US economy continues to be on generally healthy footings — consumers are still spending and have strong balance sheets, and businesses are in good shape,"But weak retail data in March weighed down stocks. Sales fell 1% last month, more than the expected drop of 0.4%. The retail sales data extended the decline seen in February and was driven by consumers pulling back on big-ticket item purchases like cars.
"A handful of earnings releases today from large banks exceeded expectations, but any resulting optimism is being tempered by retail sales data pointing to tapped-out consumers against the backdrop of an economy that is running on fumes," Interactive Brokers' senior economist José Torres said.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Retail investors sitting on big losses in their stock portfolios this yearRetail investors are sitting on big losses in their stock portfolios even as the market rallies in 2023 ESG didn't help.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »
Legal pot retail sales eclipse chocolate sales in USLegal pot sales eclipse sales of chocolate in the US as Americans reach for joints and berry edibles instead 合法的大麻销售超过了美国巧克力的销售额，因为美国人转而购买大麻和浆果食品 Now to reduce the monopolies so prices can drop. The black market will always be around unless this “medicine” stops getting up charged
Source: BusinessInsider - 🏆 729. / 51 Read more »