Diamonds and Dogs

1/13/23

Banks had a good day after a down start. Wells Fargo (WFC), Bank of America (BAC) and JP Morgan Chase (JPM) are all higher by 2% after 2% down starts. All three banks beat estimates thanks to higher interest rates boosted income and loan while there was a slowdown in overall deal activity such as home-mortgage loans and initial public offerings.


Tesla (TSLA) gets a downgrade and GM (GM) and Ford (F) take a hit. It's Friday the 13th, and a bad day for auto stocks from Silicon Valley to Detroit. Tesla only fell 1% on a downgrade and price cut, but Ford Motor was the worst performer in the S&P 500. General Motor was the third-worst performer in the index. Weird things. 

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