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Banks (Finance)

Major US Equities See Mixed Trading on Tuesday

Strategic Insights

— 1 min read

Tuesday's trading saw a mixed bag of performance among major US equities, with UBS leading the pack with a gain of over 5% following its announcement of job cuts to cut costs. Credit Suisse and JP Morgan Chase also traded higher, while Goldman Sachs and Bank of America struggled to overcome their respective concerns. The energy sector saw a boost from a $1.02 increase in oil prices, with Exxon Mobil and Chevron posting significant gains. Airlines also saw a rise in their shares after analysts upgraded several stocks in the sector, citing increased travel bookings and declining oil prices.

Key Takeaways:

  • UBS (NYSE: UBS) gained over 5% after announcing job cuts to cut costs.
  • Credit Suisse (NYSE: CS) and JP Morgan Chase (NYSE: JPM) traded higher on Tuesday.
  • Goldman Sachs (NYSE: GS) and Bank of America (NYSE: BAC) struggled to overcome concerns, with Goldman shares continuing to fall after Monday's report that CEO Lloyd Blankfein hired a prominent criminal defense attorney.
  • Bank of America stock slid due to concerns over its ability to maintain new capital requirements and liabilities related to subprime mortgages.
  • Exxon Mobil (NYSE: XOM) advanced 4.9% per share after a $1.02 increase in oil prices to $85.44 per barrel.
  • Chevron (NYSE: CVX) advanced 4.3% per share due to the same increase in oil prices.
  • Airlines saw a rise in their shares after analysts upgraded several stocks in the sector, citing increased travel bookings and declining oil prices.
  • Durable goods orders report and quarterly earnings from Big Lots (NYSE: BIG) are slated for Wednesday.

Statistics:

  • UBS gained over 5% on Tuesday.
  • Credit Suisse (CS) traded higher on Tuesday.
  • Goldman Sachs (GS) shares continued to fall, down by an unspecified percentage.
  • Bank of America (BAC) stock slid 35% this month.
  • Exxon Mobil (XOM) advanced 4.9% per share on Tuesday.
  • Chevron (CVX) advanced 4.3% per share on Tuesday.
  • Durable goods orders report and quarterly earnings from Big Lots (BIG) are slated for Wednesday.
  • Oil prices increased by $1.02 to $85.44 per barrel on Tuesday.

Sources:

  • FinancialWire via COMTEX
  • UBS (NYSE: UBS) press release
  • Credit Suisse (NYSE: CS) press release
  • JP Morgan Chase (NYSE: JPM) press release
  • Goldman Sachs (NYSE: GS) press release
  • Bank of America (NYSE: BAC) press release
  • Exxon Mobil (NYSE: XOM) press release
  • Chevron (NYSE: CVX) press release
  • Comtex SmarTrend Alert
  • FinancialWire(tm) news wire service

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