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Top News in Finance for April 14, 2023

by 14. Apr 2023 @ 3:12News, Top Market Insights for Today

KEY POINTS

Welcome to Friday!

Stay ahead of the curve with our rapid-fire roundup of today’s most impactful financial news, tailored to keep you informed and ready to seize opportunities.”

  • JPMorgan posts record revenue, shares jump
  • Retail sales experience a greater drop than expected
  • Boeing shares drop due to 737 Max delivery delays
  • Hartford Financial shares decline after earnings miss
  • Ethereum software upgrade leads to withdrawal delays for cryptocurrency investors

1. JPMorgan Profits Surpass Expectations

Shares Climb JPMorgan (JPM) shares are soaring over 6% in pre-market trading following the announcement of record-breaking revenue, bolstered by rising interest rates. Wells Fargo (WFC) also enjoyed the benefits of higher rates, with shares increasing by 4%. Citigroup (C) shares have risen by 1.4%.

2. Unexpectedly Steep Decline in Retail

Sales The Census Bureau reported a 1% decrease in retail sales last month, a more significant drop than the 0.3% fall anticipated by economists. The University of Michigan will release its Consumer Sentiment Index for April later today, with economists predicting a reading of 64, slightly higher than March but still historically low due to the impact of increased prices on consumers.

 

3. Boeing Shares Dip as 737 Max Deliveries

Halted Boeing (BA) shares are down 4.7% in pre-market trading after the company announced a pause in deliveries of its 737 Max airlines due to a parts issue. Incorrectly installed parts will significantly affect the near-term deliveries of MAX airliners.

4. Hartford Financial Shares Suffer Following

Earnings Miss Shares of Hartford Financial (HIG) have fallen 3.5% in pre-market trading after the company revealed its preliminary financial results for the first quarter. Hartford Financial reported earnings of $530 million or $1.66 per share, falling short of analyst estimates.

5. Ethereum Software Upgrade Causes

Cryptocurrency Withdrawal Delays Cryptocurrency investors are reportedly experiencing delays in withdrawing funds deposited on the Ethereum blockchain after its significant software upgrade. The cryptocurrency has faced ongoing issues as it seeks to enable the technology for widespread use in instant payments.

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