JPMorgan, BofA, Intel Corporation (NASDAQ:INTC) To Report Earnings, Citigroup Inc. (NYSE:C) & Blackrock To Work For Climate Change

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StockAhead of Monday trade’s opening bell the US stock futures were mostly flat. Major companies are due to report their results on Wednesday including JPMorgan Chase & Co. (NYSE:JPM) and Goldman Sachs. Meanwhile, Bank of America Corp (NYSE:BAC), Intel Corporation (NASDAQ:INTC)and General Electric Company (NYSE:GE)will report the earnings in the coming week.

The personal computers maker Hewlett Packard recently ousted Lenovo and regained the top position in the personal computing sector. The company’s stock surged 2%. Media reports declared that the iPhone maker Apple Inc. (NASDAQ:AAPL) cut components orders for the latest gadget, the iPhone 5, due to weak demand. Company’s shares slumped nearly 3%.

Mr. Ben Bernanke, chairman of the Federal Reserve, is scheduled to deliver a speech at 4 PM Eastern Time and will also attend question and answer session at the University of Michigan. Most recently United Parcel Service declared plans to merge with a smaller Dutch delivery company, TNT Express, for 6.8 billion US dollars. European Commission is criticized by UPS for sabotaging the deal as the company suspects issues from EC’s antitrust regulator.

Analysts expect Standard and Poor’s companies to declare a growth of 2.4 % in overall earnings for the last three months of previous year. United States stocks ended little changed on Friday after investors were gazing at the earnings from Well Fargo and a fresh batch of economic data. On Thursday the Standard and Poor’s 500 closed at a 5 year high. The expected growth in the S&P 500 companies’ earnings is better than the 1 % slump in the third quarter. Other than the financial sector the expected earnings growth for S&P 500 firms may climb to 0.2 %.

Asian markets proved to be most productive as they ended the session higher however the European markets were mildly higher in the morning trade.

China eyes on foreign direct investment to escalate the economic growth. Most recently a government official declared that foreign investment in the country’s capital markets could be allowed to increase dramatically. The Shanghai Composite index surged 3.1 % following the news. In the meantime, the Japan’s Nikkei was closed for a holiday while Hang Seng Index surged 0.6 %.

Most recently the United Kingdom’s Minister Greg Barker met with some Citigroup Inc. (NYSE:C)officials along with representatives from Blackrock Inc to boost international climate aid to the 100 billion US dollars developed nations. It’s a keystone of international work to fight climate change.

This meeting would help policymakers to work on the measures to encourage investors to put their cash in developing nations into carbon reduction. The total grant includes private and government money.


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