Stocks finished the day slightly lower with traders focused on bank earnings.
After a slightly higher start, the major indices dropped in the morning. At one point the S&P was trading lower by as much as 0.4% before finding support around the 2,900 level.
In the afternoon, a small rally helped erase most of the morning losses. But the major indices couldn’t quite get back into positive territory and finished the session slightly lower.
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Here’s where the major indices ended the day:
- The S&P finished with a 0.1% loss. Down 2 points, the S&P ended at 2,906.
- The DOW ended lower by 0.1%. Dropping 28 points, the DOW closed at 26,385.
- The NASDAQ was down 0.1%. With an 8 point loss, the NASDAQ finished at 7,976.
Crude Oil (CL) found support around the $63 mark but ended with a loss. Down 0.7%, CL ended at $63.42 a barrel.
Goldman Sachs (GS) and Citigroup (C) were in the spotlight, and the two banks reported mixed results.
Goldman was down 3.8% after lower than expected revenue. And Citigroup lost 0.1% after a dip in their trading revenue.
Lyft (LYFT) lost another 6.3% today. Although the stock kicked off its first day of trading with a bang, the stock has been in steady decline ever since, dropping 35.8% in just over 2 weeks.
Netflix (NFLX) is set to release earnings tomorrow after the bell. The stock is down 5.1% since Disney (DIS) announced its streaming service last Thursday.
Other big names releasing earnings tomorrow include Bank of America (BAC), BlackRock (BLK), Johnson & Johnson (JNJ), United Continental (UAL), and UnitedHealth (UNH).
Markets are CLOSED on Friday for Good Friday.
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Here is the economic calendar for the week:
Real Time Economic Calendar provided by Investing.com.
Source: RockwellTrading by Markus Heitkoetter | Original Link