- Title: Wall Street loses ground as Goldman, J&J slump
- Date: 18th April 2017
- Summary: GREENWICH, CONNECTICUT, UNITED STATES (APRIL 18, 2017) (REUTERS VIA SKYPE) (SOUNDBITE) (English) VESPULA CAPITAL CHIEF EXECUTIVE OFFICER AND HEAD PORTFOLIO MANAGER, JEFF TOMASULO, SAYING: "This is a great buying opportunity, especially if you truly believe that, you know, especially financials, if you truly believe that the policies of the Trump administration are gonna get passed. That means deregulation, lower taxes, if you believe in that, there is great opportunity in some stocks, like JPMorgan, PNC Bank, and, obviously Goldman Sachs. I'm still a big believer, especially Goldman under $200 a share."
- Embargoed: 2nd May 2017 21:18
- Keywords: U.S. stocks Wall Street Dow Jones Industrial Average S&P 500 Nasdaq Composite shares stocks closing bell
- Location: NEW YORK, NEW YORK, + GREENWICH, CONNECTICUT, UNITED STATES
- City: NEW YORK, NEW YORK, + GREENWICH, CONNECTICUT, UNITED STATES
- Country: USA
- Topics: Economic Events,Equities Markets
- Reuters ID: LVA0026CXFC7H
- Aspect Ratio: 16:9
- Story Text: The S&P 500 fell for the fourth time in five sessions on Tuesday (April 18), weighed down by a drop in Goldman Sachs and Johnson & Johnson following their quarterly results, while geopolitical tensions added to investor caution.
Although Bank of America reported a better-than-expected profit, its shares reversed course to close slightly lower, falling in line with the broader market.
A rough start to the earnings season could add to investor concerns about market valuations after a strong post-election rally largely based on expectations of pro-growth policies from President Donald Trump's administration drove major indexes to record highs.
The Dow Jones Industrial Average fell 113.64 points, or 0.55 percent, to 20,523.28, the S&P 500 lost 6.83 points, or 0.29 percent, to 2,342.18 and the Nasdaq Composite dropped 7.32 points, or 0.12 percent, to 5,849.47. - Copyright Holder: REUTERS
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