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Dow closes down 201.81 points, disappoints big bank earnings : InfoQuest

The Dow Jones Industrial Average closed lower on Friday (Jan 14), with financial stocks weighing on the market heavily. After investors were disappointed with the big US bank’s 4Q21 earnings release at the start of the earnings release season of US listed companies.

The Dow Jones Industrial Average closed at 35,911.81, down 201.81, or -0.56%, the S&P500 closed at 4,662.85, up 3.82, or 0.08%, and the Nasdaq closed at 14,893.75, up 86.94, or +0.59%.

in this week The Dow was down 0.9%, the S&P500 was down 0.3% and the Nasdaq was down 0.3%.

Banking stocks S&P 500 fell 1.7 percent, with JPMorgan shares down 6.26% after reporting weak earnings and warning of rising inflation, the coronavirus pandemic. Omicron species and trading income It will affect the expansion of the industry in the coming months.

Citigroup Inc. fell 1.25 percent after it reported fourth-quarter profit fell 26 percent, while BlackRock Inc. fell 2.2% after it reported lower-than-expected quarterly revenue.

Consumer and luxury stocks fell. After the US released data on retail sales and consumer confidence fell in December.

The US Commerce Department said on Friday that Retail sales fell 1.9 percent in December as analysts expected. may stabilize in that month after rising 0.2% in November

Basic retail sales Sales, which exclude cars, oil, building materials and food, fell 3.1 percent in December, contrary to analysts’ expectations for a 0.3 percent gain after falling 0.5 percent in November.

In addition, the University of Michigan survey also indicated that The US Consumer Confidence Index dropped to 68.8 in January, its second lowest level in a decade, from 70.6 in December, while analysts expect the index will dropped to the level of 70.0

Goldman Sachs, American Express and Home Depot also fell.

However, four of the 11 S&P500 index groups closed up, led by energy stocks.

Interest rate-sensitive growth stocks such as the tech sector closed up 0.89% and the communications services sector gained 0.53%.

analysts expected Companies in the S&P 500 Index will see a 23.1% increase in earnings in 4Q21.

Wells Fargo shares jump 3.68 percent after it reported higher-than-expected fourth-quarter earnings.

Las Vegas Sands jumped 14.2 percent, Melco Resorts jumped 16.6 percent and Wynn Resorts jumped 8.6 percent after the Macau government restricted the number of new casino operators allowed to operate. 6 cases with a period of 10 years in operation

U.S. stock markets will be closed Monday (Jan. 17) for Martin Luther King Jr. Day.

By InfoQuest News Agency (15 Jan 65)

Tags: dowjones, dow jones, new york stock market

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