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Morning Coffee: Stocks to Open Flat as Banks Back in Focus


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Stocks and Securities

U.S. stocks futures are set to open flat on Friday. The Banks and Financial Sector are back in focus today as earnings season has begun. J.P. Morgan (JPM) beat expectations with an EPS of $2.29, and return on common equity of 14{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} – just shy of the result in Q1, yet well above the 11{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} from the previous year. Citigroup (C) with an EPS of $1.63 tops Estimates of $1.56, while Wells Fargo (WFC) with an EPS of $0.98 misses Estimates of $1.12.

Dow Industrial AverageS&P 500Nasdaq 100Russell 2000

 

 

 

 

 

 

 

 

 

 

 

Blockchain and Cryptocurrency

Bitcoin (BTC) and Ethereum (ETH) both recovered slightly in the past 24 hours, up about 1.3{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} and 2.1{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15}, respectively. Market capitalization increased from $245B USD to $250B USD which is a 2{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} increase in just 24 hours. This 24 hour volume of $11B is unchanged compared to Thursday. BTC dominance of 42.9{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} is slightly lower compared to yesterday.

Bitcoin price - BTC/USD chartEthereum (ETH) chart - ETH/USD

 

 

 

 

 

 

Read our technical analysis on Bitcoin (BTC) and Ethereum (ETH) – the general consensus from analysts still seems to be very bullish, however, crypto continues to fail to gain traction due to lack of volume.

 

Stocks on the Radar

 

Author avatar

Dr. Tiam Feridooni

Written by: Dr. Tiam Feridooni MD, PhD, BSc Dr. Feridooni, graduated from Dalhousie Medical School in May, 2018. Prior to enrolling in medical school, he completed his Bachelor of Science with Honours in 2010 in Biochemistry. He then obtained his PhD at Dalhousie University in Pharmacology in 2014, with a focus around regenerative medicine and stem cell transplantation. Dr. Feridooni has been published numerous high impact journals and has also co-authored a few books.

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