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Bank stocks rise on JPMorgan, Goldman earnings as chip stocks fall: AlphaCheck
Yahoo Finance • • business
Key Points:
- Stocks showed mixed performance on Tuesday as the earnings season began with banks, while semiconductor stocks experienced a sell-off.
- Financial services led gains on the Dow Jones Industrial Average, boosted by positive quarterly results from JPMorgan and Goldman Sachs.
- The technology sector declined, driven by losses in chip stocks including Micron, SK Hynix, Nvidia, and AMD amid a global semiconductor downturn.
- Microsoft continued to gain after unveiling its latest AI chip, contrasting with the broader tech sector weakness.
- Long-term bond yields remained steady near 5.21%, and crude oil prices fell, with Brent crude dropping to $105 per barrel and WTI below $92 per barrel.
