Daily Wrap-Up: Oil, earnings in focus

Oil, earnings in focus... Banks will not return to pre-crisis conditions says analyst...

Daily Wrap-Up: Oil, earnings in focus
Steve Randall
  Latest 1 month ago 1 year ago

North America (previous session)
US Dow Jones 21,553.09 (+0.10%) +0.84% +16.46%
TSX Composite 15,135.00 (-0.06%) -0.23 % +4.27%

Europe (at 5.00am ET)
UK FTSE 7,387.82 (-0.35%) -1.16% +11.02%
German DAX 12,627.97 (-0.11%) -1.39% +25.42%

Asia (at close)
China CSI 300 3,703.09 (+0.44%) +4.75% +13.01%
Japan Nikkei 20,118.86 (+0.09%) +1.18% +22.78%

Other Data (at 5.00am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
48.71
(+0.60%)
46.35
(+0.59%)
1219.40
(+0.09%)
U$0.7853

Aus. Dollar
U$0.7759

Oil, earnings in focus
Markets are mixed so far Friday with Asian bourses closing higher but European indexes flat.

The confidence of Asian markets was boosted by a steadying of oil prices and comments made by Fed chair Janet Yellen. Regional earnings are awaited, with anticipation of some positive results. Sydney’s ASX was one of the best performers.

European markets by contrast are lacking confidence with most major indexes flat so far. In focus for the region is the meeting of presidents Trump and Macron and earnings reports from US banks.

Wall Street and Toronto are expected to open slightly lower. US inflation data is due.

Banks will not return to pre-crisis conditions says analyst
Despite the expected softening or banking regulations in the US, one senior analyst said Friday that it will not mean a return to pre-crisis risks.

Chris Wheeler of Atlantic Equities said that things will be better for the banks with lower reporting requirements.

“The banks are going to be able to hold bigger inventories and that's actually good for the market - which is part of the whole story here about obviously getting the banks to service the broader economy,"   he told CNBC’s Squawk Box.

JPMorgan Chase, Wells Fargo and CitiGroup will report their earnings Friday.

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