January 17, 2023

STOCK MARKET NEWS: Disney slams Peltz, Goldman’s tough quarter, Elon Musk in court

Posted By: ndeeney

Breaking News

Goldman Sachs leads Dow’s drop

Dow Jones Averages.

$

33900.06

Symbol	Price	Change	%Change
GS	$351.76	-22.24	-5.95

U.S. stocks ended the session mixed with the Dow Jones Industrial Average down over 1% or 391 points led by Goldman Sachs
, the worst performer, after a disappointing profit report. The Nasdaq Composite and S&P 500 were little changed. In commodities, oil rose 0.4% to $80.18 per barrel.

Goldman Sachs shares tumble

The Goldman Sachs Group Inc.

$

350.16

Goldman Sachs reported a drop in quarterly profits while expenses rose creating more operational headwinds for the firm amid a weak deal making environment.

The stock is on pace for the worst session since January 2022 when it lost nearly 7%.

Intel CEO talks China in Davos

Intel Corp.

$

30.11

Intel CEO Pat Gelsinger says the U.S. in a good place to take on China in the battle for semiconductor dominance.

Bad news for stocks?

S P 500.

$

3995.3

Symbol	Price	Change	%Change
BAC	$34.37	-0.86	-2.44

There may be fresh headwinds on the horizon for U.S. stocks based a new survey from Bank of America.

Amazon layoffs on tap

Amazon Com Inc.

$

98.12

Amazon is about to slash thousands of workers in the company’s biggest workforce reduction in history.

Disney fights back

Disney is pushing back
against activist investor Nelson Peltz who, just last week, said the media giant is in “crisis”…

Symbol	Price	Change	%Change
DIS	$100.74	1.34	1.35

Louisiana is losing

Symbol	Price	Change	%Change
TRV	$185.12	-8.80	-4.54
MET	$71.72	-0.20	-0.28
AIG	$63.83	-0.58	-0.90
ALL	$135.81	-3.16	-2.27

Insurance companies are bailing on the state of Louisiana leaving customers holding the bag.

FAA pressures mount

After a string of travel mishaps, the Federal Aviation Administration is under fire right, along with President Biden’s top choice to run the organization.

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