Relevant stock news on July 14th, 2023:
Bank earnings: Several big U.S. banks reported earnings on July 14th, including JPMorgan Chase, Wells Fargo, and Citigroup. All three banks reported stronger-than-expected earnings, but their shares fell as investors worried about the potential for rising interest rates to slow economic growth.
Inflation: Inflation data released on July 14th showed that consumer prices rose 8.6% in May from a year ago, the highest level in 40 years. The data further solidified expectations that the Federal Reserve will continue to raise interest rates aggressively in an effort to cool inflation.
Tech stocks: Tech stocks were under pressure on July 14th as investors worried about the impact of rising interest rates on the sector. The Nasdaq Composite index, which is heavily weighted towards tech stocks, fell 0.2% on the day.
Oil prices: Oil prices rose on July 14th as investors worried about the potential for supply disruptions due to the war in Ukraine. The price of Brent crude oil, the international benchmark, rose 1.5% to $112.30 per barrel.
Cryptocurrency: Cryptocurrency prices fell on July 14th as investors continued to sell off risky assets. The price of Bitcoin, the largest cryptocurrency, fell 4% to $30,145.94.
These are just a few of the major and/or relevant stock news on July 14th, 2023. Please note that this is not financial advice, and you should always do your own research before making any investment decisions.
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