Cornerstone Wealth CIO Cliff Hodge discusses investing in a volatile market on ‘The Claman Countdown.’
Markets will pause to mark Good Friday.
U.S. equity markets, as well as the bond market, will be closed on Friday.
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Futures markets will also be closed, so no trading in equities or commodities such as oil or metals.
New York Stock Exchange and Nasdaq MarketSite (iStock)
Most European markets are closed.
In Asia, Japan’s benchmark Nikkei 225 lost 0.3% and China’s Shanghai Composite lost 0.5%. Hong Kong markets were closed.
Bitcoin traded around $40,000.
U.S. stocks ended Thursday’s session lower as investors took in mixed bank earnings as well as Elon Musk’s offer to take Twitter private.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 34411.69 | -39.54 | -0.11% |
| SP500 | S&P 500 | 4391.69 | -0.90 | -0.02% |
| I:COMP | NASDAQ COMPOSITE INDEX | 13332.357507 | -18.72 | -0.14% |
Stocks closed lower on Wall Street as investors gave mixed reviews to earnings from four of the nation’s largest banks. The S&P 500 fell 1.2% to 4,392.59, ending a shortened trading week with a 2.1% decline.
The Dow Jones Industrial Average dropped 0.3% to 34,451.23. The Nasdaq fell 2.1% to 13,351.08.
For the week all three of the major averages registered losses.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TWTR | TWITTER INC. | 48.45 | +3.37 | +7.48% |
| WFC | WELLS FARGO & CO. | 47.17 | +0.82 | +1.77% |
| GS | THE GOLDMAN SACHS GROUP INC. | 329.88 | +8.24 | +2.56% |
| MS | MORGAN STANLEY | 86.48 | +1.72 | +2.03% |
| C | CITIGROUP INC. | 52.31 | +1.38 | +2.71% |
Twitter gave up gains after Tesla CEO Elon Musk offered to take the company private in a deal valued north of $40 billion. He noted the offer is his best and final. Twitter’s board is reviewing the deal.
Wells Fargo shares slipped after both profit and revenue fell from the same period a year ago. The bank’s revenues were $17.6 billion vs. $18.5 billion, with profits of $0.88 vs. $1.02 a year ago.
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Goldman Sachs gave back gains after profit and revenue exceeded Wall Street estimates even though results were lower than a year ago. A similar story unfolded at Morgan Stanley, whose shares closed higher.
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Oil gained for the shortened trading week by about 8%, with U.S. crude closing at $106.95 per barrel and Brent at $111.70.
FOX Business’ Suzanne O’Halloran and The Associated Press contributed to this report.
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