Disappointing earnings reports from Citigroup (C) and Goldman Sachs (GS) caused stocks to waver for most of Thursday's session before ultimately finishing higher.
The blue-chip Dow Jones Industrial Average ($INDU) rose 47 points, or 0.5 percent, to close at 10,063, while the broader S&P 500 ($INX) added 5 points, or 0.4 percent, to 1,097. The tech-heavy Nasdaq Composite ($COMPX) gained a point to finish at 2,173.
Shares in Citigroup fell more than 5 percent on disappointing results and concern that the financial giant is falling behind rivals JPMorgan Chase (JPM) and Goldman Sachs. Shares in Goldman dropped 2 percent on declining revenue from its investment banking business.
For more on stocks making moves today, be sure to check out BloggingStocks' market wrap up.
Stocks waver on bank earnings, close with gains
Posted 4:25 PM 10/15/09 Investing, JP Morgan Chase, Goldman Sachs , CitigroupDan Burrows
View all Articles »Markets and Investing Writer
Dan Burrows is a markets and investing writer for DailyFinance. He spent five years at Dow Jones. Most recently he covered investing, markets, tech stocks and the economy at SmartMoney.com. Prior to that he was a reporter at MarketWatch.com. He also covered retail and manufacturing at Women's Wear Daily for three years. In his career, he's had writing stints at Time Inc.'s FYI and Spy magazines, and has freelanced for Esquire and Maxim, among other publications.
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