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US equities ended last week on a soft note, but the S&P 500 Index and Nasdaq Composite were still near 15-month highs thanks to slowing inflation and better-than-expected quarterly earnings from a few large banks. Top banks JPMorgan Chase, Citigroup, and Wells Fargo reported results that mostly surpassed Wall Street expectations, with JPMorgan CEO Jamie Dimon sounding optimistic notes about the economy. Energy shares were among the weakest performers Friday after crude oil futures retreated nearly 2%, from 2 ½ month highs posted Thursday. Regional banks were also lower while health care and consumer staples were among the strongest performers. The US dollar gained slightly but remained near a 17-month low against the euro. Elsewhere, European shares ended mix on Friday, with the Euro Stoxx 50 Index up 0.2%, extending the gain for the week to 4.3%.
Summary for 17.07.2023
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