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☆ Delta takes a jab at Spirit and says it soon expects more profit from premium seats than economy
▼ + stars: | 2024-11-20 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

As such, premium seats — currently about 30% of Delta's inventory — will be a majority focus of any added capacity next year. Delta is doubling down on premium seatsDelta's premium cabins, including premium-economy upgrades, Delta One business class, and domestic first class, have long been profit drivers. Delta said its Airbus A350-1000 aircraft will be introduced with about 50% premium seats, for example, while the airline plans to add lie-flat business class to A321neo jets. AdvertisementThis all comes after Delta had higher-than-expected earnings in the third quarter, largely anchored by premium seats, even though it was dinged by a costly CrowdStrike outage. From July through September, Delta generated $5.3 billion in premium revenue compared to $6.3 billion for the economy cabin despite premium taking up less cabin real estate.

Persons: Glen Hauenstein, Hauenstein, Scott Kirby, David Neeleman, They've, Ed Bastian, Donald Trump, Delta, didn't Organizations: Lines, Delta Air Lines, Wednesday, Delta, Spirit Airlines, United Airlines, Breeze Airways, Biden, Airbus, Boeing Locations: Atlanta

☆ These are the most overbought stocks after Trump's win this week
▼ + stars: | 2024-11-08 | by ( Pia Singh | In | ) www.cnbc.com time to read: +4 min

Several software companies could be due for a pullback after the stock market's roaring rally this week, fueled by president-elect Donald Trump's election victory as well as robust quarterly earnings reports. Shares of video game makers Take-Two Interactive Software and Electronic Arts are two of the stocks that are technically overbought right now, according to the analysis. The most overbought stock this week was human capital management software company Dayforce, with an RSI of 92.4. But higher prices and expectations of normalizing pricing, which helped Coke guide its organic revenue growth this year to the high end of a prior forecast, could lead the stocks higher. Other oversold stocks include power generation company AES , as well as radio frequency equipment maker Qorvo and Regeneron Pharmaceuticals — the latter two of which were also oversold the previous week.

Persons: Donald Trump's, Trump, Morgan Stanley, Mills, Dr Pepper Organizations: Major, Dow Jones, Nasdaq, CNBC Pro, Companies, Electronic Arts, Software, Gilead Sciences, AES, Regeneron Pharmaceuticals Locations: Major U.S, Gilead

☆ Here are Monday's biggest analyst calls: Nvidia, Amazon, Tesla, Meta, Disney, Apple, Uber, JPMorgan Chase & more
▼ + stars: | 2024-09-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Morgan Stanley upgrades Blackline to overweight from equal weight Morgan Stanley said the software company is undervalued. Morgan Stanley upgrades US Bancorp to overweight from equal weight Morgan Stanley said U.S. Bancorp is well-positioned going forward. Barclays reiterates Tesla as equal weight Barclays says it's not sure the EV maker's upcoming robotaxi day will be a game changer. Morgan Stanley reiterates Apple as overweight Morgan Stanley says the iPhone 16 cycle remains "unchanged" for now for Apple. Morgan Stanley downgrades JPMorgan to equal weight from overweight Morgan Stanley sees better value elsewhere than shares of JPMorgan.

Persons: Wolfe, Hess, Brent, Morgan Stanley, reprice, Cantor Fitzgerald, Cantor, Tesla, it's, Uber, Apple, Goldman Sachs, Goldman, JPMorgan, Piper Sandler, Piper, Forman, Gamble, TD Cowen Organizations: Chevron, Bancorp, U.S, MU, Autodesk, Barclays, Citi, Meta, Apple, Pro, Westlake, Resources, JPMorgan, DIS, Brown, Barclays downgrades Procter, Accenture, UBS, Brookfield, Partners Locations: AVGO, ASML, TER, OW, 4Q24

☆ Rallying Microsoft shares could be forming the troubling 'bear flag' chart pattern
▼ + stars: | 2024-09-19 | by ( David Keller | ) www.cnbc.com time to read: +3 min

The foundation of Dow's work was based on the analysis of price trends, comparing swing highs and swing lows to define and track the trends over time. An initial look at the chart of Microsoft (MSFT) may suggest a consistent uptrend of higher highs and higher lows. And while this short-term uptrend is a valid observation, this also means Microsoft may be forming the dreaded "bear flag" pattern, which often precedes a major downdraft. A bear flag pattern occurs when you have an initial downtrend, in this case, the drop from $470 to $385 from early July to early August of this year. If MSFT would drop below $410 in the coming weeks, that would complete the bear flag pattern, and would also push the price back below the 200-day moving average.

Persons: Charles Dow, Downside, David Keller Organizations: Microsoft, MSFT, CMT, CNBC, NBC UNIVERSAL

☆ Jim Cramer touts Caterpillar's quarter — plus, his thoughts on 4 more stocks
▼ + stars: | 2024-08-06 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +1 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Caterpillar : The industrial giant's second-quarter results beat Wall Street estimates on the top and bottom lines. While the stock has been in both positive and negative territory Tuesday, Jim Cramer said, "I happen to like the quarter." Uber : Shares jumped more than 8% after the ride-hailing provider reported stronger-than-expected quarterly results. Kenvue : The maker of Listerine and Tylenol reported quarterly sales and per-share profits ahead of Wall Street expectations.

Persons: Jim Cramer's, Jim Cramer, Piper Sandler, Delta, Cramer, Jim, Dara Khosrowshahi Organizations: CNBC, Club, Caterpillar, Wall Locations: U.S

☆ Deutsche Bank snaps 15-quarter profit streak on Postbank lawsuit provision
▼ + stars: | 2024-07-24 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Deutsche Bank AG is a German multinational investment bank and financial services company headquartered in Frankfurt. Deutsche Bank on Wednesday snapped a 15-quarter profit streak with a narrower-than-expected loss, as it made a provision for an ongoing lawsuit over its Postbank division. The long-running lawsuit by investors alleges Deutsche Bank underpaid to take over the retail banking giant in 2010. Other highlights included:Profit before tax excluding the Postbank provision was 1.7 billion euros, up from 1.4 billion euros in the second quarter of 2023. Provision for credit losses was 476 million euros, up from 401 million euros a year ago.

Persons: Deutsche Bank CEO Christian Sewing, James von Moltke, CNBC's Caroline Roth, that's, Von Moltke, we'd, Italy's Organizations: Deutsche Bank, United Kingdom . Deutsche Bank AG, Deutsche Bank CEO Christian, Spain's Santander Locations: City of London, London, United Kingdom, German, Frankfurt

☆ 2024 is shaping up to be another tough year for IPOs. What it's going to take to turn it around
▼ + stars: | 2024-07-24 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Many companies raised money two to four years ago in private funding rounds at very high valuations. Many of these companies are now trying to go public, and investors are balking at the high valuations and demanding haircuts. Another tough year No matter how you slice it, 2024 is turning out to be the third consecutive year of subpar IPO markets. "Public investors are not willing to pay 2021 valuations," Matt Kennedy from Renaissance Capital said. Companies that want an up-round are going to be disappointed, but companies willing to take a haircut can get deals done."

Persons: Matt Kennedy Organizations: Nasdaq, Viking Holdings, Renaissance Capital, Companies

☆ Cathie Wood's ARK Innovation ETF poised to break out of its sideways trading, according to the charts
▼ + stars: | 2024-07-01 | by ( Katie Stockton | ) www.cnbc.com time to read: +7 min

—Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein. This material is not to be reproduced or redistributed absent the written consent of Fairlead Strategies.

Persons: Cathie, ARKK, Katie Stockton Organizations: Innovation, CNBC, NBC UNIVERSAL, Fairlead, CNBC Pro, Securities Locations: ARKK

☆ Software stocks got pummeled this week after a cluster of troubling earnings reports
▼ + stars: | 2024-06-01 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

And Veeva's CEO said on his company's earnings call that generative artificial intelligence has been "a competing priority" for customers. Add it all up and it was a brutal week for software and enterprise tech. "Every enterprise software company kind of has adjusted" since after the pandemic, Benioff said on his company's earnings call. "Macroeconomic headwinds are still out there," Okta finance chief Brett Tighe said on the company's earnings call. Veeva CEO Peter Gassner cited "disruption in large enterprises as they work through their plans for AI."

Persons: Marc Benioff, Dell, Salesforce, Benioff, Brett Tighe, Daniel Dines, Dines, Rob Enslin, Tomer Weingarten, Peter Gassner, Gassner, Zscaler, Jay Chaudhry, — CNBC's Ari Levy, FBB, Mike Bailey Organizations: Salesforce, Economic, Computing Fund, Dell, Barclays, CNBC Locations: Davos, Switzerland, Paycom, U.S, UiPath, reprioritize

☆ Nvidia’s earnings will be in focus next week as stocks try to sustain record levels
▼ + stars: | 2024-05-17 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The S & P 500 broke above 5,300, also for the first time. The S & P 500 has notched record close after record close in 2024. This quarter, the top-performing S & P 500 sector is utilities, higher by 9%, followed by communication services, up by 4%. The S & P 500 and Nasdaq Composite each closed out a fourth straight week of gains. Sustaining all-time highs Nvidia's earnings will also be a key catalyst at a time when technicians are watching to see whether stocks can sustain the record levels they reached this week.

Persons: what's, they're, Jay Woods, hadn't, Piper Sandler's Harsh Kumar, Kumar, Jensen Huang, Blackwell, Zachary Hill, Chris Zaccarelli, Zaccarelli, Woods, Katie Stockton, Stockton, TJX Cos, Raymond James Thursday, Ralph Lauren Friday, Nick Wells Organizations: Nvidia, Federal Reserve, Dow Jones, Freedom Capital, Dow, Nasdaq, Independent, Alto Networks, Devices, Target, Chicago, PMI, New, . Kansas City Fed, Intuit Locations: Stockton, . Kansas

☆ Expect one more market downdraft before the corrective phase ends, says Fairlead's Katie Stockton
▼ + stars: | 2024-05-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect one more market downdraft before the corrective phase ends, says Fairlead's Katie StocktonKatie Stockton, Fairlead Strategies founder and managing partner, joins 'Squawk Box' to discuss the latest market trends, technical indicators, and more.

Persons: Katie Stockton Katie Stockton

☆ IPO market continues to open up, market downdraft be damned, but higher rates loom
▼ + stars: | 2024-04-18 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

For proof that the market for initial public offerings continues to open up despite the downdraft in the market, just look at this week. This spring reopening, however, is threatened by the specter of higher interest rates. Why higher interest rates hurt IPOs The major headwind: higher for longer interest rates. technology) are more sensitive to a change in interest rates, because their cash flow projections are further out. Still, most admit higher rates make it more difficult to get investors excited about IPOs.

Persons: Ibotta, Rubrik, Matt Kennedy, IPOs, That's, Kennedy, Santosh Rao Organizations: Centuri Holdings, Southwest Gas Holdings, UL Solutions, Group, Renaissance Capital, Loar Holdings, Manhattan Venture Partners

☆ This language app is JPMorgan's favorite online education play with nearly 40% upside
▼ + stars: | 2024-04-18 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

JPMorgan listed Duolingo as its best idea in online education ahead of the Pittsburgh-based tech firm's first-quarter earnings report in early May. With the mild downdraft since Duolingo's fourth-quarter earnings report, JPMorgan analyst Bryan Smilek said the stock's risk/reward ratio looks attractive at its current prices. DUOL YTD mountain DUOL YTD chart Smilek also said there may be additional room for potential upside to Duolingo's full-year 2024 outlook as part of its first-quarter numbers. Smilek praised Duolingo's strong advertising presence, saying it's resulted in rising user growth. As a result, passive index funds that track the midcap index and its value or growth subsets will be forced to buy Duolingo.

Persons: Duolingo, Bryan Smilek, Smilek, it's, Goldman Sachs, — CNBC's Michael Bloom Organizations: JPMorgan, 2Q, Allen, Co Locations: Pittsburgh, Wednesday's

☆ Take some profits and buy cyclical names if March CPI only matches expectations, investors say
▼ + stars: | 2024-04-09 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Conversely, Kilburg is adding to positions that have lagged the market, such as industrial and health-care stocks. "Those are three names that I believe are blue chip, essential names to the U.S. economy," he said. UnitedHealth and other health-care stocks are also trading at a discount, Kilburg said, citing Johnson & Johnson as a potential winner. Buy cyclical names Bailey, formerly a health-care analyst at Legg Mason and Stifel Financial before joining FBB in 2015, expects a hotter-than-forecast inflation report on Wednesday would take stocks lower. The Johns Hopkins MBA also sees the larger, diversified banks as attractive in a climate of higher inflation and interest rates.

Persons: Jeff Kilburg, Kilburg, Mike Bailey, Bailey, payrolls, Lockheed Martin, Johnson, Legg Mason, Berkshire Hathaway, Johns Hopkins, UnitedHealth Organizations: KKM, FBB Capital Partners, Meta, Nvidia, Lockheed, Stifel, FBB, Treasury, Berkshire, Union Pacific, Old Dominion Freight Locations: U.S, McLennan, Progressive, Chevron

☆ March in a presidential election year may kick off a weak period. Here's why that could be a buying opportunity
▼ + stars: | 2024-03-01 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Seasonally speaking, stocks could be in for a pullback as the calendar turns to March in a presidential election year. In every March since 1950, the S & P 500 historically rises 1.1%, but the same month in presidential election years scores a smaller 0.4% advance on average. Currently, the S & P 500 is trading around the 5,100 level. But Hirsch advised investors to watch S & P 500 support levels closer to 4,800, the prior all-time high, or 4,600, the high from the summer of 2023. That's because Hirsch anticipates the S & P 500 will rise to 5,500 by year end, so any dips may prove a buying opportunity for investors.

Persons: Jeffrey Hirsch, Russell, Hirsch, it's, you've, —, Hirsch isn't, Katie Stockton, Sam Stovall, Stovall Organizations: Dow Jones Industrial, Nasdaq, CFRA Research

☆ With Nvidia at record highs, here's an options trade to protect against a possible near-term decline
▼ + stars: | 2024-02-23 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +2 min

Nvidia continues to surge and vaulted above a $2 trillion market cap in the wake of yet another blockbuster earrings report. The leading artificial intelligence global play has added over $1 trillion in market cap in just the last four months. When buying a put spread — similar to buying an insurance policy — an investor will be laying out capital in order to protect downside risk. Buying a Nvidia put spread: Bought the 3/15 (Friday) expiration March $750 call for $10. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Organizations: Nvidia Locations: NVDA

☆ China's big pig breeders dig in as losses and debts mount
▼ + stars: | 2023-12-04 | by ( Dominique Patton | ) www.reuters.com time to read: +6 min

BEIJING, Dec 4 (Reuters) - The biggest pig breeders in China, consumer of fully half the world's pork, seem to have bitten off more than they can chew. More huge losses are expected next year, putting China's pig enterprises under pressure to slim down their breeding herds and sell off farms, many of which are sitting empty. But now, especially given the companies' high debt levels, the analyst said: "It's hard for them to borrow any money from the banks." That follows a 17% surge in the first nine months of this year at China's 15 big market-listed breeders even as they reported 200 billion yuan in combined net losses. China's agriculture ministry has warned of heavier losses for the sector in early 2024 than a year ago and urged pig producers to cut output.

Persons: Lyle Jones, Hope Liuhe, they're, Flora Zhu, Dominique Patton, Edmund Klamann Organizations: Inc, Dalian Commodity Exchange, Tech - Bank, Jiangxi Zhengbang Technology, Analysts, Muyuan Foods, Foodstuff, WH, HK, Smithfield Foods, Hua'an Securities, China Corporate Research, Fitch, Beijing, Thomson Locations: BEIJING, China, Fujian Aonong, Jiangxi, Beijing

☆ The S&P 500 is on the verge of a technical breakdown. Here's the sell signal to watch for.
▼ + stars: | 2023-10-26 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The S&P 500 is on the verge of a technical breakdown, according to Fairlead Strategies' Katie Stockton. AdvertisementAdvertisementThe S&P 500 is on the verge of a technical breakdown, but Fairlead Strategies' founder Katie Stockton says don't sell stocks just yet. AdvertisementAdvertisementStockton's support range for the S&P 500 slightly differs from the closely watched 4,200 level among technical analysts. The S&P 500 traded below 4,180 for the first time since June on Thursday, trading to as low as 4,151. If interest rates can stop moving higher, that would be a good sign that stock prices can stage a recovery.

Persons: Katie Stockton, —, Stockton, there's Organizations: Service, CNBC, Treasury Locations: Stockton

☆ Morning Bid: Fed's dovish shift welcomed; inflation's next
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

Futures pricing suggests traders now see about a 30% chance of another rate hike this year, down from about 45% a week ago. Ahead on Wednesday, the European Central Bank's inflation survey and U.S. producer price data will lead in to U.S. inflation data on Thursday. The S&P 500's retreat on Tuesday from the day's high, closing only 0.5% firmer, also suggests nervousness. Later in the week U.S. corporate earnings season hits full swing, with bank profits set to rise. Overnight markets welcomed Pepsi (PEP.O) promising to keep on lifting prices, which is a good sign for demand but perhaps a warning sign for inflation.

Persons: Jonathan Ernst, Westbrook Stocks, Raphael Bostic, Fed's Bowman, Waller, Collins, Tom Westbrook, Edmund Klamann Organizations: . Federal, REUTERS, Bankers, Atlanta Fed, Pepsi, Exxon Mobil, U.S, Natural Resources, Reuters, Bank, PPI, Thomson Locations: Washington, Nashville, Asia, Finland, Estonia, Marrakech, Morocco, Bostic

☆ Salesforce turns to 'boomerangs,' luring back former execs to help reignite growth
▼ + stars: | 2023-09-18 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Marc Benioff, chief executive officer of Salesforce.com Inc., right, greets attendees after a keynote at the company's Dreamforce conference in San Francisco on Sept. 12, 2023. Ariel Kelman had been away from Salesforce for over a decade, when he received a direct message on Twitter from CEO Marc Benioff earlier this year. "I just thought it was good timing," Kelman said in an interview at Salesforce's Dreamforce conference in San Francisco last week. Kelman spent the few months prior running marketing at a startup called Fireblocks before rejoining Salesforce in June as chief marketing officer. Kelman and Milano are among at least eight ex-Salesforce execs who have rejoined the gang in 2023, as the company approaches its 25th birthday.

Persons: Marc Benioff, Benioff, Ariel Kelman, who'd, Kelman, Miguel Milano, Milano, Brian Millham, Millham, Dreamforce . Kelman, Salesforce, Bret Taylor, it's Organizations: Salesforce.com Inc, Amazon Web Services, Oracle, Salesforce's, Salesforce, CNBC Locations: San Francisco, Salesforce, Madrid

☆ US consumer prices continued to rise last month — but the Fed probably won’t raise rates
▼ + stars: | 2023-09-13 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

However, core inflation, which strips out volatile food and energy prices, continued to slow, according to data from the Bureau of Labor Statistics released Wednesday. On a month-to-month basis, prices rose 0.6% in August, compared with a 0.2% gain in July. Monthly core inflation rose by 0.3% in August, picking up significantly for the first time since February. The CPI’s gasoline index jumped 10.6% in August from the prior month, up sharply from the 0.2% gain in July. Gasoline prices are highly visible indicators of inflation, so more pain at the pump could also weigh on US consumers’ moods.

Persons: Sarah House Organizations: DC CNN, Bureau of Labor Statistics, Federal, AAA, CNN Locations: Washington, OPEC, Libya, Wells

☆ Here's why stocks are still vulnerable in September
▼ + stars: | 2023-08-28 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

The bad news is, stocks still aren't cheap, rates still seem like they want to push higher, and China is definitely weaker. Stocks are vulnerable in September: The 'pain trade' is down After that, it's time to repair some damage to the markets. Here's the good news: even though stocks have been straight down most of this month, 5% off the highs is a pretty garden variety correction. Nvidia and AI stocks: how much more do you want? I don't know if that is true, but it sure looks like much of the demand for AI stocks has been pulled forward.

Persons: Jerome Powell's Jackson, Powell, Stocks, there's, Banks, Russell, Susan Collins, Patrick Harker, Joachim Nagel, Thursday's, I'm, Chris Harvey, it's, Jackson Organizations: Federal, deflator, Regional Bank ETF, Energy, Boston, Financial Times, Philadelphia Fed, CNBC, ECB, Nvidia, Microsoft, Cisco, Intelligence, Technology, IBM Locations: China, Wells Fargo, Jackson

☆ Bitcoin's most faithful are staying put despite the crypto market's recent weakness
▼ + stars: | 2023-08-27 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Coin Metrics measures a week in crypto, which trades 24 hours a day, from the 4:00 p.m. "The part that could upset the crypto market is if interest rates stay higher for longer, which disappoints the expectation that the rate could be lowered in the first half of 2024. Trading data also shows long-term investors haven't been easily shaken by the recent weakness. This tells us that despite the price volatility and recent downdraft in prices, long-term holders are unwavering. He added that while it's unclear what exactly accounts for traders' resilience, maturing crypto investors are becoming more "aware of the cycles associated with bitcoin's halving and are expecting it to repeat, leading to price appreciation."

Persons: Bitcoin, Oppenheimer's Owen Lau, Jerome Powell's, Gustavo Schwenkler, It's, haven't, Greg Cipolaro, Michael Bloom, Nick Wells Organizations: Metrics, Fed, Leavey School of Business, Santa Clara University, Indicia Labs, SEC, JPMorgan, Management, CNBC Locations: Jackson Hole , Wyoming, U.S, China, NYDIG, Stone

☆ Why has the stock market been weak lately? It's not mysterious
▼ + stars: | 2023-08-09 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

.SPX 1M mountain S & P 500 1-month Since then, it's been one excuse after another. Everything Tuesday was down about 1.0-1.25% midday, including the equal-weight S & P 500 (RSP) the market-cap weighted S & P 500, the Nasdaq 100 (QQQ), and the small-cap Russell 2000, but most ended down a fraction of a percent. At nearly 5% yield, money market funds are still sucking in money, even with the S & P 500 up 18% this year. I mentioned Monday that money market inflows reaccelerated last week: $21 billion worth of inflows were added, according to Goldman Sachs. "The pace of money market flows reflects a larger apathy towards stock," Todd Sohn from Strategas told clients.

Persons: it's, Moody's, Mike O'Rourke, Dow Jones, Sellers, Harry Whitton, Russell, Goldman Sachs, Todd Sohn, Strategas, David Kelly Organizations: Bank of Japan, Jones Trading, Regional Banking, Nasdaq, Chief Global, Morgan Asset Management Locations: Japan, China, U.S

☆ Stock Market Today: Dow, Nasdaq Close Lower; Big Bank Stocks Slide
▼ + stars: | 2023-08-08 | by ( ) www.wsj.com time to read: +2 min

A broad sell off in regional bank shares—including KeyCorp and Comerica—made financial stocks among the worst performers in the S&P 500. ET:Stock indexes fell. The S&P 500 and Dow industrials pared some of their losses from earlier in the day, but still ended down. Eli Lilly led the S&P 500 higher. Bank shares were among the biggest losers, with UniCredit and other Italian banks sinking after Rome said it plans a windfall tax.

Persons: Dow industrials, Eli Lilly, Wall Organizations: KeyCorp, Comerica, Bank of America, JPMorgan Chase, Citigroup, United Parcel Service, Dow, Nasdaq, Treasury, Shanghai, Nikkei, Bank Locations: Government, Europe, Rome

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