Dow Jones Weakens Following JPMorgan Earnings; Nasdaq Falls Less, But Some Growth Stocks Power Higher
Posted Date: January 15 2021
Bank stocks, led by JPMorgan Chase, weighed on the Dow Jones Industrial Average, but the current stock market remains in the confirmed uptrend sparked by a Nov. 4 follow-through day.
During the first 45 minutes of trading, the Dow industrials at one point fell more than 1% amid drops of 2 points or more by at least eight of the index's 30 components. Goldman Sachs (GS) and JPMorgan (JPM), which have risen sharply in recent weeks, cut their losses as JPM posted fourth-quarter revenue of $29.2 billion, beating the FactSet consensus forecast of $28.7 billion.
During the first 45 minutes of trading, the Dow industrials at one point fell more than 1% amid drops of 2 points or more by at least eight of the index's 30 components. Goldman Sachs (GS) and JPMorgan (JPM), which have risen sharply in recent weeks, cut their losses as JPM posted fourth-quarter revenue of $29.2 billion, beating the FactSet consensus forecast of $28.7 billion.
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