Home Market News Stocks end down on the day after bank earnings disappoint investors

Stocks end down on the day after bank earnings disappoint investors

by Equity
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From Sunny Oh: U.S. stocks finished slightly lower on Monday after earnings from Goldman Sachs Group Inc. and Citigroup Inc. underwhelmed amid concerns over the banking sector’s health. The Dow Jones Industrial Average DJIA, -0.10% shed 28 points, or 0.1%, to end around 26,384, based on preliminary numbers. The S&P 500SPX, -0.06% fell by less than 0.1% to end around 2,906. The Nasdaq CompositeCOMP, -0.10% fell 0.1% to finish near 7,976. Though both Goldman Sachs and Citigroup C, +0.03% beat their earnings estimates, their sharp decline in revenues failed to impress investors. Market participants are also looking for any signs of a so-called earnings recession, amid expectations S&P 500 constituent firms could post the first quarterly earnings decline in three years. Shares for Goldman SachsGS, -3.82% were down 3.5%.


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