Stock Markets Open Mixed Tuesday as Big Banks, Delta Earnings Weigh
Earnings season has officially begun, and investors can expect the stock market to see increased volatility as companies start to tell the tale of how the second quarter of 2020 went for them. Monday's big late-day sell-off left many market participants feeling a bit gun-shy about the future for stocks, but strength in areas like the energy sector helped to provide a lift in some indexes. Just before 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 173 points to 26,259. However, the S&P 500 (SNPINDEX: ^GSPC) was down a point to 3,154, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had dropped a more substantial 76 points to 10,315.
Big banks are among the first companies to report their results each quarter, and the news from the financial industry was mixed Tuesday morning. Meanwhile, airline giant Delta Air Lines (NYSE: DAL) also weighed in with its latest figures. Investors watched the news with anticipation, trying to figure out what it all means for the overall economy's direction in the remainder of 2020 and beyond.
Just like the broader market, the bank stocks that reported their earnings Tuesday morning had mixed performances. JPMorgan Chase (NYSE: JPM) saw its stock inch higher following its report, but Wells Fargo (NYSE: WFC) and Citigroup (NYSE: C) suffered declines.
Source Fool.com
