Econ Recaps
Econ Recaps
Corben Benda
Banks CRUSH Earnings, Montana Bans Tiktok, What happened this Week?//Weekly Recap
6 minutes Posted Apr 15, 2023 at 1:55 am.
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In this daily market recap, the S&P500 closed slightly down, with 8 of the 11 sectors ending lower, especially in Real Estate. The banking sector performed well, with better-than-expected earnings from JP Morgan and Citi. Montana lawmakers passed a bill to ban TikTok from mobile app stores in the state, and the change in Retail Sales for March showed a decrease from the previous month but an increase from the previous year. The preliminary Consumer Sentiment Report for April showed more optimism about economic prospects. There were also updates on earnings reports from companies like Citigroup, JP Morgan, and United Health. Finally, the recap highlighted some top events of the week, including ongoing legal battles, store closures, and production delays.