US stocks trending down early Tuesday morning as investors return to work after holiday weekend
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U.S. stocks were trending down early Tuesday as traders will return to work following the long Martin Luther King holiday weekend.
Stocks in this Article
Earnings season kicks off for the big banks kicks this week when 22 companies, or one-third of the financial companies in the S&P 500, post their October-through-December results. Some of the big names to watch include Bank of America, Goldman Sachs, Morgan Stanley, Travelers, PNC Financial Services and State Street.
On Friday, the S&P 500 eked out a 0.1% gain, closing at 4,662.85. The tech-heavy Nasdaq surged 0.6% to 14,893.75. The Dow Jones Industrial Average fell 0.6% to 35,911.81.
Smaller company stocks also bounced back from an early slide. The Russell 2000 index rose 0.1%, to 2,162.46.
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A rally in technology stocks, plus gains in energy and other sectors, helped outweigh declines in banks and elsewhere in the market on a day when investors were mainly focused on a mix of company earnings reports and discouraging data on retail sales.
The mixed finish capped a week of choppy trading on Wall Street that deepened the market's January slump. The benchmark S&P 500, which soared 26.9% in 2021, is now about 2.8% below the all-time high it set on Jan. 3.