Markus Heitkoetter
Rockwell Trading
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.
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.
Trading Futures, options on futures and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. The lower the day trade margin, the higher the leverage and riskier the trade. Leverage can work for you as well as against you; it magnifies gains as well as losses. Past performance is not necessarily indicative of future results.
Recommended Content
Editors’ Picks
AUD/USD remains under pressure above 0.6400
AUD/USD managed to regain some composure and rebounded markedly from Tuesday’s YTD lows in the sub-0.6400 region ahead of the release of the Australian labour market report on Thursday.
EUR/USD holds above 1.0650 amid renewed selling pressure in US Dollar
The EUR/USD pair edges higher to 1.0672 on Thursday during the early Asian session. The recovery of that major pair is bolstered by renewed selling pressure in the US Dollar and a risk-friendly environment.
Gold retreats as lower US yields offset the impact of hawkish Powell speech
Gold prices retreated from close to weekly highs during the North American session on Wednesday amid an improvement in risk appetite. The bullish impulse arrived despite hawkish commentary by US Federal Reserve officials.
Bitcoin price uptrend to continue post-halving, Bernstein report says as traders remain in disarray
Bitcoin price is dropping amid elevated risk levels in the market. It comes as traders count hours to the much-anticipated halving event. Amid the market lull, experts say we may not see a rally until after the halving.
Australia unemployment rate expected to rise back to 3.9% in March as February boost fades
Australia will publish its monthly employment report first thing Thursday. The Australian Bureau of Statistics is expected to announce the country added measly 7.2K new positions in March after the outstanding 116.5K jobs created in February.