Stocks traded along the flatline on Monday as investors digested mixed quarterly numbers from big banks like Goldman Sachs and Citigroup.
The Dow Jones Industrial Average was up just 3 points at the open, while the S&P 500 gained less than 0.1%. The Nasdaq Composite traded 0.1% higher.
Goldman Sachs reported better-than-expected earnings as the bank kept compensation in check, but its revenue came in below analyst expectations as sales from its institutional clients division dropped by 18%. Shares of Goldman dropped 1.4%.
Meanwhile, Citigroup earnings topped expectations as the company repurchased more than $4 billion in stock. However, a 20% in its equity trading division contributed to a 2% fall in overall revenue, with disappointed analysts. Citigroup shares dipped 0.4%.
Source : CNBC