Nasdaq & S&P Sink, Dow Rises Following Big Bank Earnings
Stocks were mixed on Friday after a flurry of U.S. banks reported upbeat earnings. The Dow Jones Industrial Average gained 0.12%, while the S&P 500 fell 0.5% and the tech-heavy Nasdaq Composite slumped by 1.2%.
JPMorgan Chase, Wells Fargo, and Citigroup all posted higher profits...
Citigroup Lifts S&P 500 Year-End Target
Major U.S. lender and investment banking company Citigroup lifted its S&P year-end target by 15% as the probability of an economic recession continues to decline amid cooling inflation.
The bank is forecasting the S&P 500 to end on 4,600 points at the end of 2023;...
Citi Cuts Zoom Stock, Unimpressed With Recent Results
It looks as though Citi isn't happy with what they're seeing from Zoom's recent financial statements.
Over the last couple years, Zoom emerged as a major player in the social video streaming industry. With the COVID-19 pandemic causing companies to work remotely, Zoom's product was...