US turns to losses premarket after banks' Q4 reports

Friday, 13. January 2023 13:18

Major stock market indexes in the United States turned to losses on Friday following the release of major banks' fourth-quarter earnings. The Bank of America Corporation (BofA) revealed that its revenue in the fourth quarter recorded a rise of 11% year-over-year, while JPMorgan Chase & Co. reported its fourth-quarter revenue soared 18%. Wells Fargo & Company's diluted earnings per share (EPS) decreased by 51% on annual basis.

BlackRock Inc. posted an 11% annual loss in earnings per share, while Delta Air Lines surpassed expectations in the fourth quarter, reporting its EPS arrived at $1.29.

The Dow Jones Industrial Average declined by 0.30% or 100 points at 7:16 am ET. At the same time, the Nasdaq 100 decreased by 0.50% and the S&P 500 lost 0.39%.

The euro went down by 0.36% at 7:17 am ET to sell for $1.08135.

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