Diamonds and Dogs

4/11/25

Earnings season is here. JP Morgan Chase (JPM) rose 4% today on earnings that beat by 44 cents as sales rose 8% to $45.3 billion. Morgan Stanley, Blackrock and NY Mellon were higher as well. No one was providing much in the form of guidance due to the unknowns of the tariffs.

China has a bullseye on Intel and Texas Instruments. As the US and China go tic for tat, China clarified their tariffs saying US chipmakers that outsource manufacturing will be exempt China's retaliatory tariffs. Intel and TXN are predominately US based and fell 1% and 5% on the day.

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