Home Business Goldman Sachs, J&J pull Wall Street lower

Goldman Sachs, J&J pull Wall Street lower


US stocks fell, yesterday, weighed down by a drop in Goldman Sachs and Johnson & Johnson, with geopolitical tensions adding to investor caution. Goldman Sachs plummeted 4.7 percent, after the bank’s earnings missed expectations. Johnson & Johnson slumped 3.1 percent for its worst day in 14 months after quarterly revenue fell short of analysts’ expectations.

Although Bank of America reported a better-than-expected profit, its shares fell slightly. So the Dow Jones Industrial Average shed 114 points, or 0.6 percent, to 20,523. The S&P 500 lost 7 points, or 0.3 percent, to 2,342. And the Nasdaq Composite dropped 7 points, or 0.1 percent, to 5,849. Despite the high-profile earnings misses, Q1 results have been promising overall. As per information received, of the 45 companies in the S&P 500 that have so far reported results, 76 percent have topped expectations.

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