news 4 days ago

Markets Right Now: Stocks led lower by banks

The Associated Press

NEW YORK (AP) — The latest on developments in financial markets (all times local):

4:00 p.m.

Stocks are closing lower on Wall Street Monday as falling bank stocks led the S&P 500 to just its third loss in the last three weeks.

Goldman Sachs and Citigroup each said their stock trading businesses struggled in the first quarter. Goldman fell 3.8% while Citi shares dropped 0.1%.

Advanced Disposal jumped 17.9% after accepting a $3 billion buyout offer from Waste Management.

The S&P 500 index fell 1 point to 2,905.

The Dow Jones Industrial Average dropped 27 points, or 0.1%, to 26,384. The Nasdaq fell 8 points to 7,976.

The yield on the benchmark 10-year Treasury was flat at 2.55%.

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12:00 p.m.

Stocks are lower at midday on Wall Street Monday as corporate earnings season picks up the pace this week.

Goldman Sachs and Citigroup each reported profit that beat analysts' expectations, while saying their stock trading business struggled. Goldman fell 3.2% while Citi shares dropped 0.8%.

Advanced Disposal jumped 19% after accepting a $3 billion buyout offer from Waste Management.

The S&P 500 index fell 7 points to 2,900.

The Dow Jones Industrial Average dropped 61 points, or 0.2%, to 26,347. The Nasdaq fell 28 points to 7,955.

The yield on the benchmark 10-year Treasury was flat at 2.55%.

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9:40 a.m.

Stocks are mixed in early trading on Wall Street Monday as corporate earnings season picks up the pace this week.

Goldman Sachs and Citigroup each reported profit that beat analysts' expectations, while saying their stock trading business struggled. Goldman fell 2.7% while Citi shares dropped 1.2%.

Advanced Disposal jumped 20% after accepting a $3 billion buyout offer from Waste Management.

The S&P 500 index fell 1 point to 2,905.

The Dow Jones Industrial Average dropped 36 points, or 0.1%, to 26,376. The Nasdaq rose 3 points to 7,987.

The yield on the benchmark 10-year Treasury was flat at 2.56%.