Slow Monday and a short week – Here’s what you need to know…

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Stock Market Update Monday, April 15th, 2019

Stocks finished the day slightly lower with traders focused on bank earnings.

After a slightly higher start, the major indices dropped in the morning. At one point the S&P was trading lower by as much as 0.4% before finding support around the 2,900 level.

In the afternoon, a small rally helped erase most of the morning losses. But the major indices couldn’t quite get back into positive territory and finished the session slightly lower.

Here’s where the major indices ended the day:

  • The S&P finished with a 0.1% loss. Down 2 points, the S&P ended at 2,906.
  • The DOW ended lower by 0.1%. Dropping 28 points, the DOW closed at 26,385.
  • The NASDAQ was down 0.1%. With an 8 point loss, the NASDAQ finished at 7,976.

Crude Oil (CL) found support around the $63 mark but ended with a loss. Down 0.7%, CL ended at $63.42 a barrel.

Goldman Sachs (GS) and Citigroup (C) were in the spotlight, and the two banks reported mixed results.

Goldman was down 3.8% after lower than expected revenue. And Citigroup lost 0.1% after a dip in their trading revenue.

Lyft (LYFT) lost another 6.3% today. Although the stock kicked off its first day of trading with a bang, the stock has been in steady decline ever since, dropping 35.8% in just over 2 weeks.

Netflix (NFLX) is set to release earnings tomorrow after the bell. The stock is down 5.1% since Disney (DIS) announced its streaming service last Thursday. 

Other big names releasing earnings tomorrow include Bank of America (BAC), BlackRock (BLK), Johnson & Johnson (JNJ), United Continental (UAL), and UnitedHealth (UNH).

Markets are CLOSED on Friday for Good Friday.

Here is the economic calendar for the week:

Real Time Economic Calendar provided by Investing.com.

This Stock Market Update was provided by Rockwell Trading Services LLC.


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