Stocks Finish Lower in Run-Up to Bank Earnings: Markets Wrap
- JPMorgan will kick off financial results with war in focus
- Core U.S. inflation increased less than forecast last month
This article is for subscribers only.
Stocks closed down as a surge in oil above $100 a barrel reignited inflation worries, while big banks dropped ahead of the start of the financial earnings season on Wednesday.
The S&P 500 erased gains that were earlier driven by speculation that price pressures could be near a peak. JPMorgan Chase & Co. will be the first among the top six banks to report results, with Wall Street focused on how volatility triggered by the war in Ukraine affected investment-banking and trading operations. Treasury 10-year yields slumped after touching the highest since December 2018. Oil topped $100 a barrel.