Investors booked profits at the end of the week. US bank earnings beat market expectations. And economic data was mixed. After releasing earnings, shares in Citigroup rose 4.8%; JP Morgan Chase rose 7.6%; but Wells Fargo eased 0.1%. Seven of the 11 S&P 500 sectors ended lower led by real estate. Financial markets have priced in a 74% chance of a rate hike at the next meeting on May 2-3. The Dow Jones index fell by 143 points or 0.4%. The S&P 500 index fell by 0.2%. And the Nasdaq index...
Investors booked profits at the end of the week. US bank earnings beat market expectations. And economic data was mixed. After releasing earnings, shares in Citigroup rose 4.8%; JP Morgan Chase rose 7.6%; but Wells Fargo eased 0.1%. Seven of the 11 S&P 500 sectors ended lower led by real estate. Financial markets have priced in a 74% chance of a rate hike at the next meeting on May 2-3. The Dow Jones index fell by 143 points or 0.4%. The S&P 500 index fell by 0.2%. And the Nasdaq index lost 43 points or 0.4%. Over the week the Dow rose 1.2%; the S&P 500 rose 0.8%; and the Nasdaq lifted 0.3%.
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