Stocks are trading lower this afternoon as bank earnings failed to impress, and investors shrugged off an increase in consumer confidence. Both Wells Fargo (NYSE:WF) and JP Morgan Chase (NYSE:JPM) earnings reportedly showed lower net interest margin, despite posting increased earnings. JP Morgan's earnings were much better than analysts expected, but those shares are lower by over 1-1/2%.
Among the few winners today on Wall Street, Walmart (NYSE:WMT). Those shares enjoyed a boost after an upgrade by Jefferies to a buy from hold. Walmart is predicting a strong holiday season. Jefferies thinks the price target could reach $88.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.