Good afternoon. Today is Friday, July 14th, and I'm your host, Kim Kom.

Our top story so far in today's session. Banks kicked off earnings season and earnest today with results mostly topping expectations,

although Citi was a notable miss. Dis disappointing results for Citi and investment banking and market revenue

more than offset strong results in Treasury and Trade Solutions and Security Services.

Adjusted the EPS of 137, missed by a penny, though.

J.P. Morgan Chase rose after earnings top the Wall Street Consensus consensus and the biggest U.S. Bank increased its guidance for the year's net interest income.

While most of its businesses contributed to Q2 earnings growth, consumer and community banking and commercial banking units turned in particularly strong results.

And Wells Fargo posted stronger than expected earnings and revenue, even as its provision for credit losses increased to brace for a softening economy.

CEO Charlie Sharf said the bank's strong net interest income continued to benefit from higher interest rates,

adding that Wells Fargo remains focused on controlling expenses.

But perhaps on a sell the news reaction,

the SMT Bank EDF is down more than 1%.

Now we'll look at today's trading.

Stocks are higher with growth leading

despite a bounce back in rates. The NASDAQ and Dow are up

about a half a percent. The S&P 500 gains were more muted. Treasury yields are

popping following the Michigan consumer sentiment figures that showed inflation fears still firmly rooted.

The two-year yield is up more than 10 basis points back above 4.7 percent, the 10 years

back above 3.8 percent. The Michigan sentiment index rose to 72.6 in July, topping the 65.5 expected and up from 64.4 in June.

That's the highest level since September 2021.

A slowdown in inflation and stability in the labor market helped, but five-year

inflation expectations ticked back up to 3.1% from 3% the month before.

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