Wall Street modestly lower in early trade, financials weigh on DJIA

Eren Sengezer FXStreet

Major equity indexes in the U.S. started the day virtually unchanged before edging lower in the last minutes. As of writing, the Dow Jones Industrial Average is down 0.24% while the S&P 500 and the Nasdaq Composite are losing 0.16% and 0.1%, respectively.

Disappointing first-quarter earnings results from Goldman Sachs weighed on the S&P 500 Financials Index, which was last down 0.7% on a daily basis. On the other hand, the S&P 500 Consumer Staples and Healthcare indexes are both rising around 0.3% to help indexes limit their losses.

Meanwhile, the U.S. Treasury Secretary told Fox News in an interview that they had more work to do in order to make a trade deal with China and declined to comment on whether tariffs on Chinese imports were set to remain.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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