Stocks end down on the day after bank earnings disappoint investors

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April 15, 2019 6:24pm NYSE:SPY

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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%.



The SPDR S&P 500 ETF Trust (SPY) fell $0.03 (-0.01%) in after-hours trading Monday. Year-to-date, SPY has gained 9.12%.

SPY currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 154 ETFs in the Large Cap Blend ETFs category.


This article is brought to you courtesy of MarketWatch.


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