Major indices fight to consolidate gains ahead of the close, bank stocks continue to rise
Yahoo Finance Live co-host Seana Smith examines stock market and sector trends in the afternoon session, while also looking at bank and travel stocks.
Video Transcript
SEANA SMITH: Let's get you up to speed on today's market action. Heading into the close, we're looking at gains right now for all three of the major averages on an intraday basis. Certainly, we started out the trading day in the red as investors reacted to some of the bank earnings that we got out from Wells Fargo, Citi, JP Morgan, Bank of America-- all reporting their earnings before the bell.
A bit of a muted reaction initially, but then we got a consumer sentiment number, which really kind of reversed that sentiment and made it a little bit more optimistic. It looks like we're going to hold on to those gains heading into the close. We have the Dow up just about 45 points, S&P also up about 7 points today. The NASDAQ 100 up about 3/10 of a percent.
On a weekly basis, all three of the major averages in the green here. The NASDAQ the outperformer of the three, up just about 4% on the week. The sector action-- financials one of the top performers in today's market, as well as consumer discretionary. As you can see there on your screen, the underperformers, real estate and industrials. And so far for the week, bit of a different picture.
You have consumer discretionary there, by far the outperformer, as well as real estate. Lagging behind is health care and consumer staples. I mentioned the bank earnings that we got out before the bell, and certainly has been a bit of a different picture as we take a look at these stocks here in the final hour of trading. Looking at a lot of green on the screen, and that certainly was not the case shortly after the opening bell today.
We had JPMorgan, Wells Fargo, Bank of America all holding on to their gains here in the final hour of trading, Citi up nearly 2%. Delta was also out with its earnings report before the bell this morning. Guidance is the issue there. The fourth quarter numbers were actually pretty strong.
On an intraday basis, we're looking at Delta off just about 3.5%. It's keeping some of its competitors there in check. You have United right around the flatline, American Airlines still in the green, up just about 7/10 of a percent, Dave.
DAVE BRIGGS: Delta's interesting-- had a pretty solid quarter, not great guidance, but strong demand. A lot of airlines continue to say that. And bank earnings, we will get into some great commentary from the CEOs in just a bit.
