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After Goldman stunned the Street with its earnings announcement, what's next?
Will quarterly results from Intel, released after the bell, drag down the Dow at Wednesday's open?
Stocks ended near their session lows Tuesday after a report showed retail sales unexpectedly dropped in March and as worries about banks simmered ahead of some key earnings.
Consumer weakness—as shown by Tuesday's retail sales numbers—serves as a reminder that the economy still poses a danger to the stock market.
Stocks weakened shortly after 1 PM ET after Goldman Sachs broke decisively below $123, which was the price of its secondary.
Encouraging numbers from Goldman Sachs dominated discussion among the pros, who tied them to massive government stimulus efforts — and doubted they would carry ahead to economic numbers, or even to results from other investment banks.
By lunchtime Tuesday, stocks had slipped after Goldman Sachs said it planned a $5 billion sale of common stock to help pay back government funds.
So what do we know about bank earnings so far? We know that Wells Fargo said mortgage originations were strong, we know that Goldman saw big gains from fixed income.
Stocks recovered late yesterday in anticipation of Goldman's blowout numbers and now are off their lows today ahead of Intel's report after the bell.
Stocks opened lower Tuesday after a report showed retail sales unexpectedly dropped — and dropped sharply — in March. But Citigroup, Bank of America and General Motors advanced.
The senior lenders to Chrysler are planning to make a counteroffer to the Treasury Department this week, pushing back on a debt-reduction plan they say is too coercive.
Banks soared in global markets Tuesday after Goldman Sachs reported a strong first-quarter profit. But investors remained cautious on concerns over the fate of General Motors and the impact the economic slowdown has had on companies.
A little bit of economic cold water: Retail sales for March was a disappointment, Producer Price Index saw a big downtick, all of which cost us about 10 points on futures at 8:30 AM ET.
Stock futures retreated Tuesday after a report showed retail sales unexpectedly dropped -- and dropped sharply in March.
Richard Bove, financial strategist at Rochdale Securities, is bullish on the US banking sector as he sees an improvement in banks' overall operating businesses.
The US economy is not out of the woods yet, but the worst of the downturn will probably pass this year, as various components of the stimulus thrown at it will start to show results, White House adviser Christina Romer told CNBC Tuesday.
Goldman Sachs better-than-expected earnings isn't completely unexpected.
Asian markets were mixed Tuesday after Goldman Sachs' stronger-than-expected profit signaled the worst could be behind for U.S. banks, emboldening investors to chase after riskier assets.
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Goldman reported early, coming in with earnings of $3.39 a share, well above the $1.64 expected.