AllMarket Update
logoArgusOctober 14, 2020

Market Update: BAC, JNJ, MDC, DAL

Financial Services, Healthcare, Industrials, Consumer Cyclical

Stocks were largely flat on Wednesday morning following mixed earnings from major banks. Goldman Sachs posted much better-than-expected 3Q revenue and earnings, driven by strength in asset management and fixed-income trading. Bank of America posted mixed results, missing on revenue but with EPS slightly above consensus. Wells Fargo posted better-than-expected revenue but fell short on EPS. The Dow rose 0.1%, the S&P 0.1%, and the Nasdaq 0.2%. Crude oil traded near $41 per barrel, while gold rose $17 to $1911 per ounce.

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