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WFC - Wells Fargo & Co News Story

$45.45 -0.9  -2.0%

Last Trade - 6:36pm

Large Cap
Market Cap £148.37bn
Enterprise Value £406.23bn
Revenue £65.80bn
Position in Universe 38th / 6407

BUZZ-U.S. stocks weekly: Ink runs

Fri 17th January, 2020 9:23pm
** S&P 500 .SPX up 2%, best week since Aug as U.S.-China ink phase-1 trade deal. Nasdaq and tech sector both rise for a 6th straight week .N ** Indeed, the SPX engine is running hot urn:newsml:reuters.com:*:nL1N29J0BV, and the market is brimming with confidence urn:newsml:reuters.com:*:nL1N29L0KT ** This with the DJI .DJI crossing a line urn:newsml:reuters.com:*:nL1N29M0CF ** Nevertheless, traders have been going for the fast money urn:newsml:reuters.com:*:nL1N29K0KR, while small caps have yet to impress urn:newsml:reuters.com:*:nL1N29J0PE ** Nearly every sector pens a gain: Utilities and tech show flare, while just energy is illegible ** Tech .SPLRCT climbs 3%. Chip stocks rally after Taiwan Semiconductor Manufacturing Co TSM.N forecasts sharp Q1 rev rise urn:newsml:reuters.com:*:nL4N29L3F9. Chip index .SOX up ~3% ** Communication Services .SPLRCL jump 2.4%. Alphabet GOOGL.O joins the $1 trln market cap club urn:newsml:reuters.com:*:nL4N29L4DQ ** Industrials .SPLRCI up 2%. Delta DAL.N ascends as new customers drive Q4 profit beat urn:newsml:reuters.com:*:nL4N29J350 ** Financials .SPSY up 1.1%. Morgan Stanley MS.N surges 10% as qtrly report handily beats consensus urn:newsml:reuters.com:*:nL4N29L3S2, while results, lower yields drag on big banks urn:newsml:reuters.com:*:nL4N29K3DR. Wells Fargo WFC.N tumbles 6% as new CEO Scharf pledges more cost cuts amid profit slump urn:newsml:reuters.com:*:nL4N29J366 ** Consumer discretionary .SPLRCD up 1.1%. But Target TGT.N misses the mark on holiday sales, pressures peers urn:newsml:reuters.com:*:nL4N29K3I3 ** Energy .SPNY down 1.1%. Oil cos fall after EIA data shows bigger-than-expected inventory draw urn:newsml:reuters.com:*:nL4N29K3HG. TechnipFMC FTI.N and Valero Energy VLO.N both fall ~6% ** Meanwhile, individual investors crowd back into the bull camp urn:newsml:reuters.com:*:nL1N29M0LQ, and when it comes to 2020 megatrends, it has paid to have your head in the clouds urn:newsml:reuters.com:*:nL1N29K0US ** SPX sector performance YTD through Thurs: <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ SP 500 2020 YTD Jan 17 https://tmsnrt.rs/30G5o0p ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Lance Tupper and Terence Gabriel) ((lance.tupper.tr.com@reuters.net lance.tupper@tr.com 646-223-5017 terence.gabriel.tr.com@reuters.net terence.gabriel@tr.com 646-223-4122))
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