U.S. stocks fell back late Wednesday, the major indexes all fell. Goldman Sachs and other financial giant's disappointing earnings report, under the downward pressure on the market.
EST at 15:20 on January 19 (Beijing time at 4:20 on January 20), the Dow Jones Industrial Average fell 23.61 points to 11,814.32 points, down 0.20%; the Nasdaq composite index fell 44.33 points to 2,721.52 points, or 1.60%; Standard & Poor's 500 index fell 14.06 points to 1,280.96 points, down 1.09%.
Financial giant American Express (AXP) and Bank of America (BAC) fell, dragging the Dow lower.
Dow component, credit card giant American Express (AXP) fell 2.6% after the company announced that it will integrate some of the business and thus lay off 550 people, also expects fourth-quarter earnings slightly below market expectations of earnings.
Another Dow component Bank of America (BAC) fell 2.8%, the company will report earnings on Friday, the market generally pessimistic expectations for their performance.
Released early Wednesday earnings disappointed investors mostly, so market sentiment frustrated. Goldman Sachs (GS) led to poor financial sector earnings are mostly lower. Goldman Sachs Group announced a little over fourth-quarter earnings expectations, but revenue below expectations. Goldman Sachs fell 3.1%, and its rival Morgan Stanley (MS) dropped 2.6%.