April 18, 2022

April 19, 2022

Stocks fell today as a big week of earnings kicked off, with Bank of America posting better-than-expected results, while traders kept an eye on rates.

 

Dow Jones finished -40

S&P 500 finished -1

NASDAQ finished -19

 

The 10 Year Treasury closed up 5 basis points yielding 2.86%

Oil prices closed up $0.87 ending at $107.82 a barrel.

Gold prices closed up $7.00 ending at $1,982 an ounce.

 

In the days’ stock news:

 

  • Bank of America closed up more than 3% after Bank of America reported an earnings beat on Monday. Bank of America topped expectations in the first quarter with earnings of 80 cents per share and $23.33 billion in revenue, helped by strength in consumer lending. Analysts surveyed by Refinitiv expected earnings of 75 cents per share and $23.2 billion in revenue.
  • Twitter closed up 7.6% after Twitter announced Friday that the board adopted a limited duration shareholder rights plan, often referred to as a “poison pill.” The move comes after billionaire Elon Musk offered to buy the company for $43 billion.

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