Earnings season is underway as the major banks begin reporting. JPMorgan Chase (JPM) falls as CEO Jamie Dimon warns that economic risks are “shifting below the surface,” while Goldman Sachs (GS) posts a significant revenue beat and Bank of America (BAC) reports stronger trading revenue. In tech, chip stocks move higher following Monday’s selloff in SK Hynix, while IBM plummets after releasing preliminary second-quarter earnings. Alex Coffey breaks down the biggest market moves and earnings takeaways. ======== Schwab Network ======== Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribe Download the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185 Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7 Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watch Watch on Vizio - https://www.vizio.com/en/watchfreeplus-explore Watch on DistroTV - https://www.distro.tv/live/schwab-network/ Follow us on X – https://twitter.com/schwabnetwork Follow us on Facebook – https://www.facebook.com/schwabnetwork Follow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

Big Bank Earnings Kick Off as IBM Slides, Chip Stocks Rebound

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and Let's bring in Alex Coffey, co-host of NextGen and Senior Equities Contributor to help set up the action today. All right, Alex, we've got a flood of earnings to get through. Before we get to that, let's talk broad, big picture take on the market. We sold off yesterday, geopolitical risk still front and center. Your thoughts? Yeah, yesterday was a lot more mixed than it maybe looked like at the headline index level. You actually had like 55% of equities in the S&P 500 higher. It was closer to maybe 45%

in the NASDAQ, 145%, but it was still, you know, pretty mixed. That said, the chip names were under immense pressure yesterday as AI infrastructure sold off. Today, as indicated by pre-market trade, perhaps you're having a kind of a bounce back in that part of the market, but maybe some of the other areas are a little bit weaker. So this push and pull and rotational forces sort of under the

surface, Diane, continues to be the big story. Still a lot on the calendar even for today as you're going to get CPI later this morning and, you know, just about 30 minutes from now. So that certainly could have an impact. That could certainly have an impact. We are drinking from the firehose this morning with earnings, watching the recovery in the chip sector. Let's see, get right into JPMorgan chase. They lead the pack out with their quarterly results. As is typical, though, the stock has

been under some pressure off the back of its results. It's kind of how it typically trades, even when they have monster numbers. But walk us through some of your takeaways here on their numbers.

Big Bank Earnings Kick Off as IBM Slides, Chip Stocks Rebound

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Big Bank Earnings Kick Off as IBM Slides, Chip Stocks Rebound

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.