FB - Stock Markets Fall After Bank Earnings; BlackBerry Gets a Facebook Lift
Market participants have been watching the state of the economy closely, especially as a leadership transition in Washington is underway. Markets reacted Friday morning to the release of President-elect Joe Biden's stimulus plan, which includes increased aid to Americans as well as several more controversial measures. Some investors were concerned by the package and its price tag, which sent stocks lower. As of 11:30 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 147 points to 30,845. The S&P 500 (SNPINDEX: ^GSPC) fell 19 points to 3,776, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) dropped 60 points to 13,052.
This year has seen the stock market's upward momentum from last year continue, but investors have been waiting to see what companies would say about how their businesses are doing. Earnings season has finally started, and market participants are getting their first readings on how top market players finished 2020. Today major bank stocks JPMorgan Chase (NYSE: JPM) and Wells Fargo (NYSE: WFC) released their latest results, and shareholders weren't entirely satisfied with what they saw. Meanwhile BlackBerry (NYSE: BB) shares soared as investors celebrated an apparent settlement with Facebook (NASDAQ: FB) .
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Stock Markets Fall After Bank Earnings; BlackBerry Gets a Facebook Lift