Stocks in the stateside finished the session last Tuesday higher. Markets are currently keeping an eye on the continuous release of quarterly earnings from corporate firms. American Entertainment Company rose to its all-time high.
Shares of Netflix jumped as much as 13 percent on Tuesday as its membership for the second quarter came in at 5.2 million. Social media company Facebook also notched an all-time high on the day.
The Dow Jones industrial average lost more than 54.99 points and finished at 21,574.73, with Goldman Sachs as the leading decliner. The American finance company led losses to the index after reporting a decline about 40 percent in Q2 bond trading revenue. The 30-stock index also dropped by 150 points more.
Atlantic Equities’ research analyst Christopher Wheeler noted on the same day that the market didn’t expect this great fall given the underperformance of Goldman Sachs on this year’s first quarter. In addition to the financial sector’s unexpected slump, the Bank of America was left under pressure on the sudden decline in trading revenue.
In other major U.S. indices, the S&P 500 was marginally up by 0.06 percent to close at record highs at 2,460.61, with the tech sector as the best performers. Meanwhile the NASDAQ composite edged higher by 0.05 percent to also settle at its record high at 6,344.31. NASDAQ also hits a winning streak for eight straight sessions, considered its longest since Feb 2015.
Outside the market, Wall Street has its attention on Washington, following the announcement of two Republican senators last Monday saying they would file a dispute against the present health care bill.