Mixed on the US stock exchange – banks weighed down

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Mixed on the US stock exchange – banks weighed down
Photo: Peter Morgan/AP/TT

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The leading indexes on the New York Stock Exchange went in different directions on Tuesday.

The industrial-heavy Dow Jones index fell 0.2 percent, while the broad S&P 500 index and the technology-heavy Nasdaq composite index rose 0.5 and 0.8 percent, respectively.

The banking sector had a tough day. Goldman Sachs fell 4.4 percent after the CEO warned that revenues for the third quarter would decrease.

JP Morgan Chase dropped 5.2 percent after the bank said earlier in the day that expectations for net interest income might be too high. Other banks, such as Citigroup and Wells Fargo, fell 2.7 and 1.2 percent, respectively.

The oil price has fallen sharply, which contributed to oil companies retreating. Exxon Mobil fell 3.6 percent, while Chevron fell 1.5 percent.

Software company Oracle presented quarterly figures that were better than expected, and the stock rose 11.4 percent.

Investors are now waiting for American inflation figures, which will be released later in the week.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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