Lance Roberts, CIO of RIA Advisors, provides insights into market monetary policy and what drives make-money investment decisions.
US stocks traded higher as earnings rolled in and commodities rallied.
Major futures indexes are pointing to a 0.6% gain as Wall Street’s opening bell rings, extending Tuesday’s rally.
| ticker | security | Last | To change | To change % |
|---|---|---|---|---|
| Me: DJI | DOW JONES AVERAGES | 34220.36 | -87.72 | -0.26% |
| SP500 | S&P500 | 4397.45 | -15.08 | -0.34% |
| I: COMP | NASDAQ COMPOSITE INDEX | 13371.571501 | -40.38 | -0.30% |
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Delta shares rose after the airline said it had returned to profitability as consumer demand recovered.
| ticker | security | Last | To change | To change % |
|---|---|---|---|---|
| DAL | DELTA AIR LINES INC. | 38.62 | +0.38 | +0.99% |
JPMorgan’s quarter was more subdued, as sales and earnings declined compared to the prior-year period. The largest U.S. lender posted earnings of $8.28 billion, or $2.63 per share, in the first quarter, compared with $14.3 billion, or $4.50 per share, a year earlier. Revenue fell to $30.7 billion from $32.2 billion a year earlier.
| ticker | security | Last | To change | To change % |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & Co. | 131.47 | -1.56 | -1.17% |
AMC CEO is committed to more business
In the deal news, AMC Entertainment has entered into a deal to acquire seven former 66-screen Bow Tie Cinemas locations, including five in Connecticut, one in upstate New York and one in Annapolis, Maryland. The new theater locations in Connecticut will double AMC’s overall presence in the state.
| ticker | security | Last | To change | To change % |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT HOLDINGS INC | 17.42 | -1.31 | -6.99% |
US oil topped $100 a barrel as traders eyed Russia’s tightening supply after Moscow said talks to resolve its invasion of Ukraine had reached an impasse.
Traders on the floor of the NYSE (AP/AP Newsroom)
| ticker | security | Last | To change | To change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND LP | 75.96 | +3.64 | +5.03% |
| BNO | UNITED STS BRENT OIL FD LP UNIT | 29.81 | +1.60 | +5.67% |
RUSSIA INVADES UKRAINE: LIVE UPDATES
Traders will also study another inflation-related report.
The producer price index is expected to rise 1.1% month-on-month, according to Refinitiv forecasts, up from 0.8% in February and the largest rise since January’s 1.2% surge. Year-on-year, prices paid by wholesalers are expected to rise by a record high of 10.6%, up from 10% in February.
Excluding volatile food and energy costs, core producer prices are expected to rise 0.5% monthly in March, up from 0.2% in the previous month. Year-on-year, expect the core PPI to rise 8.4% in March.
INFLATION RISE 8.5% IN MARCH, REACHING A NEW 40-YEAR HIGH
On Tuesday, the government reported that the consumer price index, a closely watched measure of retail inflation, rose to a 40-year high in March.
Bitcoin traded around $40,000.
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The Associated Press contributed to this report.