Key Advisors Group, LLC co-owner Eddie Ghabour discusses the market and inflation.
U.S. stocks were choppy on Thursday as investors took in mixed bank earnings as well as Elon Musk’s offer to take Twitter private.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 34688.14 | +123.55 | +0.36% |
| SP500 | S&P 500 | 4432.32 | -14.27 | -0.32% |
| I:COMP | NASDAQ COMPOSITE INDEX | 13540.154483 | -103.43 | -0.76% |
Thursday will be the final trading day of the week ahead of the Good Friday holiday.
Fred DeMarco, right, works with fellow traders on the floor of the New York Stock Exchange, Friday, Feb. 2, 2018. Technology companies were leading stocks broadly lower in early trading, extending the market’s slide into a second day. (AP Photo/Richa (AP Photo/Richard Drew)
Twitter shares moved higher after Tesla CEO Elon Musk offered to take the company private in a deal valued north of $40 billion. He noted the offer is his best and final. Twitter’s board is meeting today to review the deal.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TWTR | TWITTER INC. | 47.04 | +1.19 | +2.60% |
Wells Fargo shares slipped after both profit and revenue fell from the same period a year ago. The bank’s revenues were $17.6 billion vs. $18.5 billion, while profits $0.88 vs. $1.02 a year ago.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WFC | WELLS FARGO & CO. | 45.40 | -3.17 | -6.53% |
Goldman Sachs shares rose after profit and revenue exceeded Wall Street estimates even though results were lower than a year ago. Similar story at Morgan Stanley.
JPMORGAN PROFIT FALLS 42% ON SLOWDOWN IN DEALS, TRADING
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GS | THE GOLDMAN SACHS GROUP INC. | 324.93 | +2.54 | +0.79% |
| MS | MORGAN STANLEY | 86.24 | +2.03 | +2.41% |
Oil futures traded lower Thursday morning as traders weighed a larger-than-expected build in U.S. oil inventories against tightening global supply.
RUSSIA INVADES UKRAINE: LIVE UPDATES
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND L.P. | 77.42 | -1.00 | -1.28% |
| BNO | UNITED STS BRENT OIL FD LP UNIT | 30.66 | -0.34 | -1.10% |
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In economic data new claims for unemployment benefits rose to 185,000 up from 167,000 the previous week. Continuing claims, which track the total number of unemployed workers collecting benefits, slipped to 1.475 million.
Retail sales for March rose 0.5% month-over-month, excluding autos sales ticked up 1.1%. For the year sales surged 6.9%.
WHOLESALE PRICES SURGE 11.2% IN MARCH, HIGHEST LEVEL ON RECORD
Prices of imported goods rose 2.6% month-over-month, the biggest increase in 11 years. Export prices jumped 4.5%,
The University of Michigan will release its preliminary index of consumer sentiment for April. The Refinitiv estimate is 59.0, down from March’s final reading of 59.4, which was the lowest in almost 11 years on inflation fears.
Bitcoin traded above $40,000.
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FOX Business’ Ken Martin and The Associated Press contributed to this report.