Market Watch: Goldman Decline Leads to Down Day

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.”

See more below.

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.”

See more below.

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%)

Phil Cannella

Phil Cannella

As a partner with CBS Radio in Philadelphia, Phil Cannella reports on the issues most important to the American retiree.
Phil Cannella
- 2 days ago
Phil Cannella
Phil Cannella

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