Diamonds and Dogs

7/12/24

Russell 2000 (RUT) is the diamond of the day and the week, up nearly 6% since Monday.ollowing the economy data out the last couple of days, investors are warming up to soft landing for the broader economy, which would give a boost to the small and mid cap stocks going forward.

The banks kicked off earnings results Friday. Wells Fargo is a dog down 6% after the big bank said net interest income, a key measure of lending profitability, fell short of expectations in the second quarter. The bank also continues to see net interest income falling from 7% to 9% this year. JPMorgan is down 2% even as the bank posted second-quarter revenue was higher than Wall Street expectations on a jump in investment banking fees. Citi is lower by 2% despite beating on the top and bottom line in the second quarter.