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Bank Earnings Help Market Back From Overnight Dip, With Amazon Prime Day, Apple Event Next

Bank Earnings Help Market Back From Overnight Dip, With Amazon Prime Day, Apple Event Next

Key Takeaways:

  • Earnings season gets started with strong results from two major banks
  • JP Morgan and Citigroup
    C
    both beat analysts’ estimates, helped by trading revenue
  • Apple
    AAPL
    and Amazon
    AMZN
    keep focus on FAANGs as Prime Day, iPhone event ahead

Wave the green flag. Earnings season is underway.

It all got started today with JP Morgan Chase (JPM) and Citigroup (C) delivering fresh sets of results hot off the press. The overall market has a mixed tone, with Nasdaq 100
NDAQ
(NDX) futures higher but other indices trending lower overnight after yesterday’s incredible rally.

It’s the start of Amazon’s (AMZN) Prime Day, and Apple (AAPL) has an event later where it’s expected to reveal its new iPhones.

Major indices took a bump down early last night after Johnson & Johnson
JNJ
(JNJ) paused its Covid-19 vaccine trial due to an “unexplained illness,” but now it looks like JPM is helping bring us back.

Bank Earnings Solid Across the Board

JPM beat Wall Street’s average top- and bottom-line estimates and saw shares rise slightly in pre-market trading.

On the earnings side, JPM’s Q3 tally of $2.92 came in way above the average estimate of $2.23, while revenue of $29.94 billion was about $1 billion more than analysts had expected. To double profits from the previous quarter is amazing. Revenue was down year over year, but not by much.

One thing many had expected was strong results from JPM’s trading business, and those didn’t disappoint. Fixed income trading revenue rose 29% and stock trading revenue rose 32%. Not bad at all, and a reflection of continued volatility in the market that’s likely to help all the big investment banks.

The most surprising news was JPM setting aside just $611 million for possible loan losses, down from about

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Apple’s New iPhone and Amazon’s Prime Day Could Drive the Stock Market Higher

Apple’s New iPhone and Amazon’s Prime Day Could Drive the Stock Market Higher

Apple CEO Tim Cook speaks onstage during a product launch event at Apple’s headquarters in Cupertino, California on September 10, 2019.


JOSH EDELSON/AFP via Getty Images

Text size

Two big tech events get started Tuesday—and they might be more important for the stock market than any of the day’s other news.


Apple

reveals the iPhone 12 today at an event that can be live-streamed here beginning at 1 p.m. Eastern time.

Apple stock is up 69% this year, and has a market value of more than $2 trillion. An iPhone supercycle is supposed to drive Apple shares even higher.


Amazon.

com’s Prime Day—actually two days—is here. E-commerce has boomed amid the pandemic, and the setup for this holiday shopping season is extraordinary.

Amazon stock has been extraordinary too. Shares are up 86% year to date and the stock now has a market value of about $1.7 trillion.

Tech, particularly big tech, now rules the market. The

Nasdaq Composite

has outpaced the

S&P 500

and

Dow Jones Industrial Average

in 2020, and looks set to do so on Tuesday.

And when Amazon and Apple are doing well, the market usually does well too. Together, they make up about 12% of the market capitalization of the S&P 500, and cover up the fact that 51% of the index constituents are down on the year.

For investors interested in the future of the market, Apple’s launch is must-see TV.

Al Root

*** Join Ian Bremmer, founder of the Eurasia Group, and Barron’s Beverly Goodman today at 12 p.m. EDT for an outlook on global macroeconomic risk and how that affects the U.S. economy and election.

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Amazon’s first-ever fall Prime Day brings new challenges in the midst of a tumultuous year

Amazon’s first-ever fall Prime Day brings new challenges in the midst of a tumultuous year

Amazon and its army of logistics workers are bracing for the first-ever fall Prime Day starting Tuesday, as the extraordinary circumstances of 2020 bring new challenges for a shopping event that has become key for Amazon’s e-commerce business.



a truck on a city street: An Amazon Prime truck in downtown Seattle near Amazon HQ. (GeekWire Photo / Kurt Schlosser)


© Provided by Geekwire
An Amazon Prime truck in downtown Seattle near Amazon HQ. (GeekWire Photo / Kurt Schlosser)

The pandemic created unprecedented change and disruption for Amazon. The company has seen its sales surge, and it has rapidly added staff and infrastructure to keep up. Typically, Amazon holds the contrived shopping holiday in July to boost sales during the slow season, but this year, the company pushed Prime Day to the fall when it was struggling to keep up with a deluge of orders from customers sheltering at home.

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Prime Day offers sales on hundreds of items for members of Amazon’s Prime subscription service. It began in 2015 and has become a reliable revenue boost for the company.

But the shift to October presents new challenges, coming just weeks before the holiday shopping season, amid the ongoing coronavirus crisis and a period of acute environmental concerns. Meanwhile, the company’s treatment of its third-party sellers is under a microscope following the release of a House subcommittee’s antitrust report last week.

Amazon’s plan to forge ahead with Prime Day despite those complications reveals how essential the six-year-old shopping holiday has become to the company.

An extra long holiday

The decision to hold Prime Day Oct. 13-14 effectively adds an extra month to Amazon’s peak season, the holiday rush that starts with Black Friday in ordinary years. It’s a major effort for Amazon’s logistics and delivery team. Amazon staffs up warehouses with seasonal workers and requires employees to work overtime to keep up with demand.

This spring, Amazon was caught unprepared by

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Prime 30 Small Enterprise Concepts For Inexperienced persons In 2019

Prime 30 Small Enterprise Concepts For Inexperienced persons In 2019

Business news,Business daily,Business ideas,Business insider,Business letter,Business line,Business plan,Business proposal,Business times,Business world,Online businessAll the things that you might want to know to start your personal business. Due to a mixture of technology, third-social gathering suppliers, and the flexibility to shortly check ideas online, it’s simpler than ever to construct a enterprise and begin making gross sales with out getting caught up in sourcing products, renting space, and managing inventory. Here are some low-value business ideas that will help you obtain your dream.

Foreign money buying and selling will be some of the lucrative and engaging small business concepts. Social media advertising is an ideal enterprise for scaling. Related affiliate internet marketing requires you to have some authority and content material on the product you might be advertising and marketing, however you do not personally use the product. You too can present a service to enterprise clients that need assistance generating leads on-line.

There are a whole lot of online business ideas, but these five plans will probably be so obvious to start out an online business without risk. For one, there are dozens of online enterprise concepts to select from immediately. In case you are bilingual (or even a polyglot), then you possibly can supply on-line translation services for businesses that have to translate their content material into multiple languages.

Years in the past, my grandmother freelanced articles for national magazines usually about life on Olde Cape Cod.” In the present day there are still some freelance writing alternatives at conventional publications, but the massive opportunity is online in content advertising. After getting a good suggestion, and also you talk to sufficient folks about it, attempt to acquire a way of your full enterprise and product technique Meaning taking an even bigger picture view.

App improvement is a wonderful startup enterprise thought as a result of so many companies need apps developed … Read the rest

Prime 8 Apps For Monetary Information

Prime 8 Apps For Monetary Information

Business news,Business daily,Business ideas,Business insider,Business letter,Business line,Business plan,Business proposal,Business times,Business world,Online businessThe whole lot that you could know to begin your individual business. I extremely encourage you to invest the majority of your time to find present instruments or services that you can use to assist in giving you leverage relating to managing your key activities. Some individuals will complain concerning the glut of content online, however someone with an entrepreneurial mindset will see this is an opportunity — the place there are problems there are opportunities for on-line enterprise concepts.

However beware: some experts doubt the long-time period viability of this business thought, so you should not stop your day job simply to place all your effort into this one with out some successes already within the bag. The app goals to mixture data to provide a multimedia monetary experience based mostly on information, articles, and movies. International Enterprise and Monetary Information, Stock Quotes, and Market Knowledge and Analysis.

The marketplace for web host reselling is loopy competitive — a lot so that you’ll have to speculate cash into marketing with a purpose to even let individuals find out about your small business. If you’re looking to begin your own business in meals business, then this can be one of the nice enterprise ideas. Beginning off with an idea no person wants is like setting sail with big, big, gaping hole in your boat.

Many individuals purchase and promote domain names to earn money on-line since it takes little or no time or investment. You point out there are hundreds that are looking to partner up with individuals but from my experience most want paid some huge cash to contemplate creating your idea. Contrary to what you would possibly think, running a blog continues to be one of the best on-line enterprise ideas 2019.

I’d definitely go for a enterprise … Read the rest