US stocks rose on Wednesday as investors oversaw a series of carefully monitored earnings reports and further digested the US inflation hotprint.

The S & P 500, Dow and Nasdaq were green during the day as stocks seemed to shake off three days of losing streak.

Investors received many quarterly reports early Wednesday morning from several major US companies and stock index components. These include JP Morgan Chase (JPM) — The largest US bank in assets — Delta Air Lines (DAL) And bed, bath & beyond ()BBBY).

Provided by Jamie Dimon, CEO of JP Morgan Chase A cautious and bright view of the US economy in the bank’s earnings announcement on Wednesday. “We are optimistic about the economy, at least in the short term,” Dimon said, but “high inflation, supply chain problems, and the war in Ukraine pose significant geopolitical and economic challenges. I will do it. ” Banks have also accumulated a net credit reserve of $ 902 million, “mainly because of the high potential for downside risks,” Dimon said.

Meanwhile, Delta Air Lines, one of the major airlines at the heart of reopening trade, The proposed business is even more This quarter Even if the first quarter results show another loss as the airline tackled the wave of the Omicron variant earlier this year. Delta said it recovered profitability in March and is expected to reach 97% of its pre-pandemic levels of revenue this quarter, ending in June.

This early set of revenue reports helped set the tone for what is expected to end up in a much more modest earnings growth quarter than in recent periods. Many Wall Street companies are seeing significant sales amid rising and rising consumer demand as companies tackle rising labor, raw material and transportation costs and respond to the surge in activity associated with the resumption last year. Despite the growth in, we are looking for a narrower margin than in recent quarters. price. Overall, the S & P 500 is expected to report profit growth of only 4.5% year-over-year. This, if realized, will be the slowest rate since the fourth quarter of 2020. According to FactSet.

The story continues

Kristen Bitterley, Head of Global Wealth Investment at Citi, said: , He told Yahoo Finance Live on Tuesday.

“Even in decades like the 1970s, when we experienced extreme inflation, high-quality US stocks in large cap stocks were able to double their stock prices during that period.” She added. “That’s the pocket of the market where we either continue to invest with confidence or get an investment.”

And yes, inflation remains a major concern for investors and can further weigh on both consumer wallets and corporate profits. Labor Statistics Bureau ” The Consumer Price Index (CPI) in March shows that inflation has risen at the fastest pace since late 1981 last month. I jumped 8.5% slightly faster than last year.

However, some economists have suggested that this report is not all bad news and has provided tentative signs of a peak price increase.

“I think the CPI report actually contains a little better news than it appears on the surface … there’s a lot to suggest that inflation peaks are starting to be seen here. Jeffreys’ bond money market economist Tom Simmons told Yahoo Finance Live on Tuesday. “”[It’s] It is important to remember that the March CPI was the reference period immediately after Russia invaded Ukraine. So really, it captures the sharpest time of rising gasoline prices. And in the weeks since then, they’ve already seen them start to soften a bit in the market. “

“The other is a former energy service, which was actually a bit softer than in the past few months when the airline components were removed,” he added. “Housing has actually become a little softer in the last few months, and original energy products have also become a little softer. That is, consumers have been able to survive the storm here. Inflation.”

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1:03 pm ET: Bed Bath & Beyond shares turned positive despite unexpected quarterly losses

Bed bath & Beyond share (BBBY) Rising during the day on Wednesday, retailers posted an unexpected loss in the fourth quarter, shook off as much as 12% of the initial loss after falling below sales expectations.

Adjusted losses were 92 cents per share, but Wall Street analysts were seeking revenue of 13 cents per share during the holiday shopping season. Based on Bloomberg consensus data, comparable sales were also down 12%, outpacing the expected decline of 8.3%.

In a press release of the quarterly report, the company’s CEO, Mark Tritton, said, “Our sales and profit margin performance reflects the team’s efforts and executions for both strategic and transformational efforts in 2021. I’m disappointed that I don’t have one. “

“Macroeconomic factors such as the collapse of global supply chains, omicron variants, and geopolitical turmoil that emphasizes consumer confidence have revealed more vulnerabilities than could be predicted at this stage of transformation. “The foundation of our business,” he added.

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11:21 am ET: Peloton shares rise after activist investor Blackwells Capital calls for sale

Peloton (PTON) Wednesday stock prices rose Activist Investment Company Blackwells Capital Issued a new Call for the sale of a connected fitness company.

According to Blackwells Capital’s slide deck, “Peloton is a strategically valuable asset that is attractive to many potential acquirers.” “Insightful and talented operators will be happy to pay a premium that goes beyond the synergies of traditional costs and revenues for the opportunity to’rethink Peloton’as a dramatically different business. .. “

Blackwells Chief Investment Officer Jason Einavi also doubled his criticism of former Peloton CEO John Foley, who remains on the board as chairman.

“Peloton will continue to be undervalued as long as a close group of insiders who have proven unable to create value continue to exercise their voting rights far beyond their economic interests,” Eintabi said. Said in a statement. “Shareholders should not want Mr. Foley to sit on the management pyramid and control the board through super-voting shares. When he destroyed $ 40 billion of shareholder assets within a year. I was disqualified from both positions. “

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9:31 am ET: Stocks look for direction

9:31 am ET The main market movements as of now are as follows.

• S & P 500 (^ GSPC).: -4.23 (-0.10%) to 4,393.22

• Dow(^ DJI).: -32.30 (-0.09%) to 34,188.06

• Nasdaq (^ IXIC).: -9.23 (-0.07%) to 13,362.34

• crude oil(CL = F).: + $ 1.44 (+ 1.43%) to $ 102.04 barrels

• gold (GC = F).: + $ 5.20 (+ 0.26%) to $ 1,981.30 per ounce

• 10 years finance (^ TNX).: Generates 2.6990% at -2.6 bps

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8:50 am ET: Producer prices hit new highs

US producer prices rose 1.4% against final demand in March After rising 0.9% in February Ministry of Labor said on Wednesday.. For the full year, PPIs surged 11.2%, according to Bloomberg consensus. This is the largest increase since the 12-month data was calculated in November 2010. The result exceeded the 10.6% estimate.

The latest printed matter suggests that inflation will continue to rise as Russia’s war against Ukraine intensifies and pushes up prices for oil and other commodities.

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7:20 am ET: Equity futures rise in earnings

Here are the places where the stock was traded on Wednesday morning:

• S & P 500 Futures (ES = F).: +26.5 points (+ 0.6%) to 4,419.50

• Dow Futures (YM = F).: From +172 points (+ 0.5%) to 34,311.00

• NASDAQ futures (NQ = F): From +110.75 points (+ 0.79%) to 14,055.75

• crude oil(CL = F).: + $ 1.45 (+ 1.44%) to $ 102.05 barrels

• gold (GC = F).: + $ 4.20 (+ 0.21%) to $ 1,980.30 per ounce

• 10 years finance (^ TNX).: 2.733% at +0.6 bps

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7:03 am ET: JP Morgan’s first-quarter results were mixed as investment banking earnings declined compared to last year.

JPMorgan Chase Posted mixed first quarter results. Overall adjusted earnings exceeded Wall Street estimates, but some major companies within the bank showed some softening.

Adjusted revenue was $ 31.6 billion, down 4.6% from last year, but above the consensus estimate of $ 31.4 billion, according to Bloomberg data. Fixed income and equity sales and trading income were both higher than expected, but were down from last year to about $ 5.7 billion and $ 3.1 billion, respectively. However, investment banking earnings fell 28% and missed an estimate. Earlier this year, equity and debt underwriting was down compared to last year, bringing the total to $ 2.06 billion.

CEO Jamie Dimon also said the bank’s core lending business remained strong this quarter.

“The strength of lending has increased by 5% on average company-wide lending, but credit losses are still at historically low levels,” Dimon said in a statement.

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6:50 am ET: Delta’s share price rose and returned to profitability in March after airlines posted a narrower first-quarter loss than expected

Delta shares rose in a pre-market session after the airline Quotes posted-exceeded first quarter resultsThis included a smaller loss than expected.

According to Bloomberg data, adjusted losses were $ 1.23 per share in the March quarter, or narrower than the $ 1.26 per share consensus analyst expected. Adjusted revenue was $ 8.2 billion, a 79% recovery from pre-pandemic 2019 comparable quarterly levels. Delta added that capacity recovered by 83% compared to the pre-pandemic period.

Delta expects capacity to recover further to 84% of June 2019 quarterly levels for the current quarter ending in June, with total revenue for that period from 93% to 97% in 2019. I said there is.

Delta CEO Ed Bastian said Wednesday morning’s earnings announcement: “Demand has recovered significantly as Omicron declined, returning to profitability in March with an adjusted operating margin of nearly 10%. It remained strong. ” “As brand preferences and demand gained momentum, we succeeded in regaining the rise in fuel prices, with adjusted operating margins of 12-14% and strong free cash flow in the June quarter.”

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6:10 pm ET Tuesday: Equity futures head towards lower open

Here are the places where the market was trading before the opening bell on Tuesday evening:

• S & P 500 Futures (ES = F).: + 4.25 points (+ 0.1%) to 4,397.25

• Dow Futures (YM = F).: From +33 points (+ 0.1%) to 34,172.00

• NASDAQ futures (NQ = F): From + 17.75 points (+ 0.13%) to 13,962.75

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Emily McCormick is a Yahoo Finance reporter. Follow her on Twitter..

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