Shares of banks and other lenders and money managers rose slightly, a tepid reception for a generally strong round of earnings.
Shares of Goldman Sachs, fell, amid concerns about the sustainability of recent growth. The largest Wall Street bank said fourth-quarter profit more than doubled to $4.51 billion, as its trading desks boomed in a throwback to the firm's aughties heyday.
Shares of Bank of America ticked down after the second largest U.S. bank by assets said a plunge in interest rates weighed on its lending profits.
Texas bank Comerica echoed Bank of America and other rivals, saying credit-quality issues and bad debts had moderated from earlier in the pandemic.
Discount brokerage Charles Schwab posted an increase in quarterly earnings, driven in part by its merger with rival TDAmeritrade.
Shares of custodial bank State Street ticked up after it posted fourth-quarter profit ahead of Wall Street targets, reflecting cost cutting.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-19-21 1723ET
