Stocks

Google Ad

The world's largest oil fields service company Schlumberger reported better than expected Q4 earnings Friday. Revenues in all four reporting segments of Schlumberger fell. Strength came from digital solutions and multiclient seismic license sales.

Morgan Stanley reported better than expected fourth quarter earnings before the bell Wednesday as a resurgence in investment banking dealmaking saw a 46 per cent surge in Q4 revenues versus a year earlier. $MS will resume $2bn in share repurchases back. The bank followed Bank of America, JPMorgan Chase, Wells FargoPNC FinancialGoldman Sachs and Citigroup reporting.

Goldman Sachs, America's largest investment bank reported much stronger than expected fourth quarter earnings before the bell Tuesday. Revenue at all four of $GS businesses rose in the quarter with trading adding the most, jumping 23% to $4.3 billion

Bank of America reported better than expected fourth quarter earnings before the bell Tuesday and announced a $2.9 billion share buyback plan for Q1, the maximum allowed under Federal Reserve regulations. $BAC followed Citigroup $C JPMorgan Chase $JPM. Wells Fargo $WFC reporting

Citigroup posted better than expected Q4 earnings and revenue Friday highlighted by its digital business. $C reported along with other money center banks JPMorgan Chase, PNC and Wells Fargo $WFC. The bank released around $1.5 billion linked to the release of previous credit loan provisions; $JPMC said it is freeing up $2.9 billion in reserves.

Wells Fargo reported worse than expected Q4 earnings before the bell on Friday after JPMorgan and Citigroup revenue rose in the same period. $WFC is still hampered by 'legacy' issues with nonperforming assets and non-accrual loans still rising.

PNC Financial reported better than expected fourth quarter earnings before the bell on Friday. $PNC saw higher interest income and a rise in non-interest income, reporting after Citigroup,  Wells Fargo $WFC and JPMorgan $JPM. The bank released around $254 million linked to the release of previous credit loan provisions;

JPMorgan Chase, America's largest bank reported better than expected Q4 earnings Friday before the open. $JPM investment-banking revenues rose 37% fueled by fixed-income revenues up 15% rise to $4 billion and equity revenues soaring 32% to $2 billion. Citgroup, PNC and Wells Fargo also reported Friday.

The Blue Chip Dow Jones Index closed at record highs on the last day of 2020 up 7.1% on the year, as massive Fed and fiscal stimulus coupled with vaccine optimism and the prospects of further fiscal stimulus in the US fueled no fear risk taking on steroids. The Dow was down over -36% at the March low

The Blue Chip S&P 500 index clocked fresh record highs on the last day of 2020 up 24 points or 0.6% to 3756 with the SPX up 16% for the year. Vaccine optimism, prospects of further fiscal stimulus fueled by easy money and no fear fueled the speculation.

Google ads