US Stock Market Move | Bank stocks mixed: Wells Fargo & Company (WFC.US) down nearly 3%, Goldman Sachs Group, Inc. (GS.US) up over 1%
On Tuesday, bank stocks were mixed.
On Tuesday, bank stocks were mixed, with Wells Fargo & Company (WFC.US) falling nearly 3% and Citigroup (C.US) dropping nearly 2%; while Goldman Sachs Group, Inc. (GS.US) rose over 1%, and JPMorgan Chase (JPM.US) turned positive. In terms of news, Wall Street major banks' earnings reports are being released one after another, making bank stocks the focus. Both JPMorgan Chase and Wells Fargo & Company reported revenue below expectations. JPMorgan CEO Dimon said that client activity in markets and investment banking has slowed compared to a stronger second quarter. Goldman Sachs Group, Inc. reported third-quarter net revenue of $18.679 billion, up 23% year-over-year, with equities trading revenue surging 72%. Citigroup's third-quarter revenue was $23.85 billion, up 8% year-over-year.
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