Post Reply
1-1 of 1
U.S. equities fell on Tuesday after Goldman Sachs shocked Wall Street by missing estimates. Investors also remained vigilant amid U.S.-North Korea tensions and the nearing of the French presidential election.
The Dow Jones industrial average kicked off the session falling more than 100 before holding about 75 points lower, with Goldman shaving off 60 points. The S&P 500 dropped 0.15 percent with health care leading decliners. The Nasdaq composite fell around 0.1 percent.
Goldman Sachs reported weaker-than-expected first-quarter results across the board, with trading revenue disappointing analysts.
"I'm a little surprised that they missed because the market did so well in the first quarter," said Bruce Bittles, chief investment strategist at Baird. The S&P 500 and the Dow Jones industrial average rose 5.53 percent and 4.56 percent last quarter, respectively.
Last quarter marked the first time since 2015 that Goldman's earnings per share missed analysts' expectations and the first time since the first quarter of last year that sales came below estimates.
Bank of America, meanwhile, reported strong first-quarter results with almost every single metric meeting or topping analyst expectations.
The three major indexes snapped a three-day losing streak on Monday, with the Dow rising more than 180 points, albeit during the lightest trading volume day of the year following the Easter holiday.
The Dow Jones industrial average kicked off the session falling more than 100 before holding about 75 points lower, with Goldman shaving off 60 points. The S&P 500 dropped 0.15 percent with health care leading decliners. The Nasdaq composite fell around 0.1 percent.
Goldman Sachs reported weaker-than-expected first-quarter results across the board, with trading revenue disappointing analysts.
"I'm a little surprised that they missed because the market did so well in the first quarter," said Bruce Bittles, chief investment strategist at Baird. The S&P 500 and the Dow Jones industrial average rose 5.53 percent and 4.56 percent last quarter, respectively.
Last quarter marked the first time since 2015 that Goldman's earnings per share missed analysts' expectations and the first time since the first quarter of last year that sales came below estimates.
Bank of America, meanwhile, reported strong first-quarter results with almost every single metric meeting or topping analyst expectations.
The three major indexes snapped a three-day losing streak on Monday, with the Dow rising more than 180 points, albeit during the lightest trading volume day of the year following the Easter holiday.