Big Bank Earnings and a Retail Sales Slump Weigh on Markets -- While Tech Tries to Rebound From Thursday's Sell-off
David Faber, Morgan Brennan and Mike Santoli focused on a rough start for the Dow and S&P 500: Both under pressure after big banks kicked off earnings season with their quarterly results -- and new data showed weaker-than-expected retail sales in December in wake of the omicron outbreak and inflation. JPMorgan Chase and Citigroup each fell sharply after posting a decline in quarterly profits, while Wells Fargo's results gave the stock a lift. Piper Sandler analyst Jeff Harte offered his perspective on the banks, while top retail analyst Matthew Boss of J.P. Morgan shared his favorite names in the group he covers. Also in focus: The tech stocks bouncing back from Thursday's sell-off, Fedspeak on rate hikes, casino stocks rally, Disney gets downgraded and space stocks take a hit.
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