Big Bank Earnings Beat While Tech Chips Stumble: Tuesday's Market in Focus
Tuesday's session delivered two stories at once, and they pulled in opposite directions. Five of America's largest banks opened Q2 earnings season with results that blew past expectations, while a semiconductor shock out of South Korea sent tech lower across the board. The rotation is real: only three of eleven S&P 500 sectors closed in positive territory, and money flowed hard from growth into value. Key Takeaways SK Hynix fell 15% in its single worst trading day on record, dragging Nvidia down 3.52% to $203.53 and pulling XLK, the tech sector ETF, down 2.42%. JPMorgan, Goldman Sachs, Bank of America, Citigroup, and Wells Fargo all beat Q2 expectations; KBW projected investment banking reve…
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