U.S. stocks trade lower amid corporate earnings

0 Comment(s)Print E-mail Xinhua, April 16, 2019
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NEW YORK, April 15 (Xinhua) -- U.S. stocks traded on downbeat note on Monday as investors pored through a slew of newly-released corporate results from bank giants.

At midday, the Dow Jones Industrial Average dipped 72.32 points, or 0.27 percent, to 26,339.98. The S&P 500 fell 7.99 points, or 0.27 percent, to 2,899.42. The Nasdaq Composite Index slid 29.21 points, or 0.37 percent, to 7,954.96.

Shares of Goldman Sachs dropped 3.2 percent in midday trading, leading the laggards in the Dow. For the first quarter, the bank delivered adjusted earnings per share of 5.71 U.S. dollars, beating market consensus. However, its revenue for the quarter missed estimates.

Citigroup also reported earnings topped expectations while revenue missed. The stock decreased about 0.7 percent.

Nine of the 11 primary S&P 500 sectors traded lower, with real estate and financials down 0.85 percent and 0.73 percent, respectively, around midday, leading the decliners.

In the week ending April 12, the U.S. equities posted mixed results with the Dow suffering a modest loss while both the S&P 500 and the Nasdaq were up more than 0.5 percent as Wall Street digested a batch of key economic data and awaited the new earnings season. Enditem

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