The first day of the last trading week of April signaled another bad day for financial stocks as the industry remains the worst performer of 2016. Goldman Sachs contributed to most to declines. Wall Street Dick Bove, vice president of equity research at Rafferty Capital Markets said today about Goldman Sachs:
“Goldman Sachs has gone through a “lost decade” and needs to reconsider its strategy.”
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The Federal Open Market Committee is not expected to move on interest rates at its meeting scheduled for this Tuesday and Wednesday, but investors will carefully look over the statement for any signs on the potential for a possible rate hike this year.
Also today the price of a barrel of oil fell after some banks said that a two-month long rebound in the price of crude has quote “defied fundamentals.”
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Here are the final numbers from Monday, 4/25/16 on Wall Street: (as of 3:00 pm)
Dow Jones Industrial Average: 17,934.65 (-69.10 / -0.38 %)
NASDAQ: 4,888.71 (-17.48 / -0.36 %)
S&P 500: 2,083.61 (-08.14 / -00.39%)
