Bank of America shares rose $1.28, or 3.4%, to $38.85 after the bank reported on Monday that its first-quarter profit beat analysts’ forecasts. Bank of America Corp. reported a 12% drop in first-quarter profit Monday, marking the end to an underwhelming earnings season for the country's largest banks. Last week, JPMorgan Chase & Co., Citigroup Inc., Wells Fargo & Co., Goldman Sachs Group Inc. and Morgan Stanley reported double-digit declines in first-quarter earnings as well. All except Bank of America reported lower revenue. This quarter was supposed to be a return to normal for U.S. banks after two years of pandemic operations. Instead, Russia's invasion of Ukraine also threw new hurdles into the global economy's path to pandemic recovery, upending stock trading and commodities markets alike. On Wall Street, the deal making that had powered the industry's investment bankers started to slow. Inflation continued to climb, forcing households to pay more for gas and food. The Federal Reserve raised interest rates for the first time since 2018 to try to curb the fast-rising prices, but banks worry that too many rate increases could throw the economy into recession. The second-largest U.S. bank earned $7.07 billion, down from $8.05 billion a year earlier.

Looking for New Structured Product Ideas?
https://en.swissquote.com/trading/investment-products/yield-boosters

The Swiss stock market edged into positive territory on Thursday. The SMI gained 0.8 per cent to 12,475 points. Among the 20 SMI stocks, there were 17 price gainers and three price losers. 36.48 (previously: 31.38) million shares were traded. A possible sale of a stake in India helped Holcim to gain 3.5 per cent. According to a press report, the cement manufacturer could sell its stake in Ambuja Cements. The latter is currently worth CHF 5.68 billion, according to analysts at Stifel. Positive figures from French luxury goods group Hermes drove Richemont up 3.4 per cent. Swatch improved 3.2 percent. Banks and insurance companies benefited from the slight climb in market interest rates. The shares of banks Credit Suisse and UBS gained 1.0 and 0.3 per cent. Insurers Swiss Life, Swiss Re and Zurich increased by up to 2.1 per cent.

Most European stock markets closed higher on Thursday, although gains were minor, with investors looking ahead to the latest policy decision from the European Central Bank. The big question for the ECB is whether the governing council is ready to put a timeline on the end to net asset purchases, paving the way for interest-rate hikes. With headline annual eurozone inflation for March coming in at 7.5%, the pressure for the ECB to begin hiking remains strong. The Stoxx Europe 600 index gained 0.7% to 456.9 points. In Paris, the CAC 40 and SBF 120 rose 0.7% and 0.8%, respectively. In Frankfurt, the DAX 40 gained 0.6%, and in London the FTSE 100 gained 0.5%. The luxury goods group Hermès (+2.7%) published its first quarter activity showing that the group had started its year "on the right foot", according to Bernstein. The group recorded organic growth of 27.1% in the first three months of the year. Valneva (+9.9%) announced on Thursday that the UK Medicines and Healthcare products Regulatory Agency (MHRA) had approved its Covid vaccine for the primary vaccination of adults aged 18 to 50. Oil products distributor Rubis (-8.4%) fell after press reports that Nairobi had decided to expel the group's East African managing director. In Stockholm, telecom equipment maker Ericsson (-5%) reported lower than expected quarterly results.

U.S. stocks edged lower to close Monday’s session, while the 10-year Treasury yield continued its upward march following a three-day holiday weekend. The S&P 500 slipped 0.90 point, or less than 0.1%, to close at 4391.69. The Dow Jones Industrial Average declined 39.54, or 0.1%, to 34411.69. The technology-heavy Nasdaq Composite Index dropped 18.72, or 0.1%, to 13332.36. All three indexes wavered between small gains and losses throughout the day. Investors will be keeping a close eye on corporate earnings this week. Netflix is set to report on Tuesday, followed by investor darling Tesla on Wednesday. Other companies due to report financial results this week include Johnson & Johnson, Snap and United Airlines. Shares of Charles Schwab tumbled $7.81, or 9.4%, to $74.94, making it the worst-performing stock in the S&P 500, after the brokerage’s earnings missed expectations and trading activity fell compared with the same quarter a year ago. Twitter shares jumped $3.37, or 7.5%, to $48.45. Speculation about an acquisition of the social-media company has persisted even after it adopted a so-called poison pill provision on Friday, making it more difficult for billionaire Elon Musk to increase his stake in the company. Last week Mr. Musk unveiled an unsolicited $43 billion bid to buy Twitter.

In Asia, major indexes broadly closed with gains. The Chinese economy is in the spotlight, after it last showed clear signs of braking in March. Therefore, the Chinese stock markets are among the laggards on Tuesday. In Shanghai, it is only enough for a mini-recovery of 0.1 per cent while the HSI in Hong Kong loses almost 2 per cent - weighed down by consumer stocks and technology stocks in the wake of the latest regulatory steps in the sector. In mainland China, alcohol stocks are sought after, with Kweichow Moutai up 2.1 per cent and Wuliangye Yibin up 1.6 per cent. China's National People's Congress Standing Committee is considering a draft law on futures and derivatives trading. China Merchants Bank shares fall 12 per cent after President Tian Huiyu had to leave unexpectedly. In South Korea (+1%), the market is supported by electronics and transport stocks. Samsung Electronics gained 1.8 and SK Hynix 2.8 per cent - both technology groups had announced solid first quarter figures. In Tokyo (+0.6%), electronics stocks are also supporting - fuelled by a significantly lower yen, which improves export prospects.

Long-dated U.S. government debt yields moved higher Monday as investors returned from a three-day weekend. U.S. and European markets were closed for Good Friday. Most European markets remained closed Monday. The rate 10-year US Treasury yield climbed 5 basis points to a new high since the end of 2018, at 2.858%. The 2-year rate also gained 1 basis point to 2.456%.

Deutsche Bank reduces Credit Suisse target to CHF 8 (11) - Hold

CS cuts Gerresheimer target to EUR 86 (89) - Outperform

BoA lowers Hellofresh target to EUR 75 (85) - Buy

Produced by MBI Martin Brückner Infosource GmbH & Co. KG on behalf of Swissquote. All news is acquired with journalistic accuracy. No liability is assumed for delays or errors.