US STOCKS-Wall Street dips after lackluster big bank earnings

Reuters

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    * Goldman Sachs, Citigroup fall after results
    * Financials biggest drag among S&P sectors
    * Nike gains after Tiger Woods' Masters win 
    * Indexes down: Dow 0.14%, S&P 0.11%, Nasdaq 0.12%

 (Updates prices to open)
    By Amy Caren Daniel
    April 15 (Reuters) - U.S. stocks slipped on Monday, weighed
by losses in financial stocks as earnings from Wall Street's big
banks Goldman Sachs and Citigroup failed to impress.
    Goldman Sachs Group Inc  GS.N  fell 2.6%, while Citigroup
Inc  C.N  declined 1%. Both banks beat quarterly profit
estimates, but their revenue missed.  urn:newsml:reuters.com:*:nL3N21X2S0  urn:newsml:reuters.com:*:nL3N21X2XL
    The financial sector  .SPSY  dipped 0.48%, and the S&P
banking index  .SPXBK  fell 0.66%. 
    "People are sort of looking for direction," said Scott
Brown, chief economist at Raymond James in St. Petersburg,
Florida.
    "We've got a lot of earnings reports coming in, including
the banks, and they are important because they ought to tell us
something about the state of the economy."
    Monday's results follow JPMorgan Chase's  JPM.N  upbeat
earnings on Friday that eased fears of first-quarter earnings
season slamming the brakes on Wall Street's big rally back from
last year's slump.
    The benchmark S&P 500 index  .SPX  is now within a percent
of its September record closing high.  urn:newsml:reuters.com:*:nL1N21U0H6
    In a bright spot, the healthcare sector  .SPXHC  rose 0.2%,
bouncing back from a rough week, led by a more than 1% gain in
UnitedHealth Group Inc  UNH.N , CVS Health Corp  CVS.N  and
Anthem Inc  ANTM.N .
    On the trade front, Reuters reported that U.S. negotiators
have tempered demands that China curb industrial subsidies as a
condition for a deal, while Treasury Secretary Steven Mnuchin
said he hoped the talks were approaching a final lap.
 urn:newsml:reuters.com:*:nL1N21V0BZ    
    At 10:01 a.m. ET, the Dow Jones Industrial Average  .DJI 
was down 38.21 points, or 0.14%, at 26,374.09. The S&P 500
 .SPX  was down 3.06 points, or 0.11%, at 2,904.35 and the
Nasdaq Composite  .IXIC  was down 9.48 points, or 0.12%, at
7,974.68.
    Of the 29 S&P 500 companies reporting results so far, 79.3%
have surpassed first-quarter earnings estimate, above the
average of past four quarters, according to Refinitiv data.
    Analysts expect S&P 500 companies to show a 2.3%
year-on-year decline in earnings, their first annual contraction
since 2016.
    Among other stocks, Waste Management Inc  WM.N  rose 2.2%
after the company said it would buy smaller rival Advanced
Disposal Services Inc  ADSW.N  for about $3 billion.
 urn:newsml:reuters.com:*:nL3N21X0HG
    Boeing Co  BA.N  fell 0.7% after U.S. President Donald Trump
urged the planemaker in a tweet to fix and "rebrand" its
troubled jetliner. Brand consultancy firm Brand Finance said
negative publicity over the grounding of its 737 MAX jet is set
to wipe $12 billion off the company's brand value. urn:newsml:reuters.com:*:nL5N21X368
    Nike Inc  NKE.N  rose 0.7% after long-time brand ambassador
Tiger Woods won the Masters title, ending an 11-year major title
drought.  urn:newsml:reuters.com:*:nL3N21X355
    Declining issues outnumbered advancers for a 1.08-to-1 ratio
on the NYSE and for a 1.22-to-1 ratio on the Nasdaq.
    The S&P index recorded 48 new 52-week highs and one new
lows, while the Nasdaq recorded 56 new highs and 19 new lows.

 (Reporting by Amy Caren Daniel and Sruthi Shankar in Bengaluru;
Editing by Sriraj Kalluvila)
 ((Amy.CarenDaniel@thomsonreuters.com ; within U.S.
+1-646-223-8780; outside U.S. +91 80 6749 9250 ; Reuters
Messaging: Amy.CarenDaniel.thomsonreuters.com@reuters.net;))

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