On Friday morning, the New York Stock Exchange followed the decline, although its quarterly results were higher than expected, not enough to boost the equity markets.

The Dow Jones dropped 0.9% to 30.702.7 points one hour after the opening, while the NASDAQ Composite was lost 0.9% to 12.989.2 points.

In particular, the financial sector weighs the trend which is affected by 3 US banks with investors sanctioning publications.

JPMorgan Chase, America’s first asset bank, lost 2.2%, with the operators remaining more uncertain than expected for the fiscal year 2021 than in the previous three months.

Citigroup shares have dropped by almost 5 percent, but are significantly higher than the market agreement after profit is announced, 7 percent down to $4.6 trillion, or $2.08 per share, EPS.

Wells Fargo has reported a four percent increase in earnings in the fourth quarter, mainly because of a fall in its debt provisions.

An index of nearly 2% of the S&P 500’s financial stocks shows a loss.
The news is not much more reassuring on the macroeconomic side.

Retail sales fell by 0.7% last month, according to the Commerce Department after decreasing by 1.4 percent in November.

The manufacturing activity index for New York Fed’s Empire State falls 1.4 points to +3.5 this month as a consensus of economists predicts a slightly less strong pullback.

The logical result of the epidemic resurgence, the morality of the American consumer worsened in January given the trust indices in preliminary estimates of the University of Michigan at 79.2 following 80.7 in December.
The only ray of sunshine of the day, according to the Federal Reserve, industrial production increased by 1.6% in December, well above average economists.

By Abdullah Khalid

Passionate software engineer & Author. And love to write about what's happening in the world.