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On the SPOT™ blog (04/14/2023) [J..]

Interesting morning (PST).... all three major US indices appear to be in the red right now. This is perhaps because of the economic data that showed that retail sales dropped, consumer spending fell below expectations in March. Some of this could be related to lower gas prices. Consumer sentiment appears to be improving in April (University of Michigan published the data). Consumer spending dropping more than expected might be the reasons for the red coloring today. In any case, IMHO, focus and star of the show today is the banking sector... more specifically the big banks as JP Morgan Chase, Citi and Wells Fargo all appear to gave beaten estimates. This was largely expected as big banks seem to have "benefited" from the recent regional banking crisis (seen from SVB, Signature bank failures).

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