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16.07.2019 17:38:43

Stock Market News: JPMorgan and Goldman Sachs Deliver Solid Bank Earnings

The stock market once again seemed to tread water on Tuesday as investors tried to assess what the future looks like for the broader U.S. economy. As of 11:20 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 14 points to 27,377. However, the S&P 500 (SNPINDEX: ^GSPC) was down 3 points to 3,011, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) fell 9 points to 8,249.Earnings season began in earnest today, with several big banks reporting their second-quarter results. In particular, JPMorgan Chase (NYSE: JPM) and Goldman Sachs (NYSE: GS) had encouraging news for their shareholders, and even though not everything is pointing to robust growth in the future, shareholders in these two banks were pleased with the way the financial giants are capitalizing on their latest opportunities.Shares of JPMorgan Chase climbed 1% as investors reacted favorably to its second-quarter earnings results. The Wall Street bank delivered better bottom-line performance than market participants had expected, but there were some countervailing factors that kept the report from getting an even better reception.Continue reading
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