1. Will luck hold on Friday the 13th?
Stocks are on a roll. The Dow and the S&P jumped Thursday, after December’s consumer price index showed inflation slowed down, as expected. The Nasdaq registered its first five-day winning streak since July.
2. Big banks start reporting
JPMorgan Chase,Wells Fargo and Bank of America all reported earnings Friday morning, as investors look to Wall Street for evidence about the economy’s health and insight about where things are headed. BofA and JPMorgan both beat the Street as higher rates helped bolster interest income.
3. Delta earnings arrive
Delta results easily topped estimates Friday, as the airline weathered higher costs to finish 2022 on a strong note. The company’s adjusted earnings per share $1.48, while its revenue came in at $13.44 billion, which marks an increase from the pre-pandemic fourth quarter of 2019.
4. Tesla cuts prices in U.S., Europe
Tesla has cut the prices of some of its vehicles in the United States and Europe after wrapping up a fourth quarter that saw its deliveries fall below expectations. Tesla has long been the top dog in the electric vehicle space, but its competition is growing. Interest rates also surged last year, which made financing new cars more expensive for consumers.
5. Tim Cook takes a pay cut
Tim Cook asked for a pay cut, and that’s what he got. The Apple CEO requested the downgrade after a board vote on his pay package – and after a bad year for the company on the stock market. But 2022 wasn’t kind to much of the tech world, either, and the board said it maintained its confidence in Cook.
