Goldman's Stock Decline Cuts Nearly 60 Points From The Dow

Wall Street closed in the red on Tuesday as investors digested several weak earnings reports.

At 11:03 a.m. ET (1503 GMT), the Dow Jones Industrial Average was up 98.76 points, or 0.48 percent, at 20,552.01, the S&P 500 was up 10.62 points, or 0.46 percent, at 2,339.57 and the Nasdaq Composite was up 30.24 points, or 0.52 percent, at 5,835.39.

Chavez, who will take over the CFO role from Harvey Schwartz at the end of this month, attributed the decline to lower volatility in commodities and currency markets.

Amazon AMZN.O was the largest points gainer on the S&P 500, up 2.0 percent to $901.99 after Credit Suisse raised its price target to $1,050 from $900. Goldman's stock, a contributor to the Dow, was off about 3.7%, or $8.47, from its Monday close of $226.26, which would translate into a 58-point drop for the price-weighted blue-chip benchmark.

"The anticipation of better earnings from the first quarter may shift the momentum in the favor of this market at least in the near-term". The index decreased to 68 from 71 with homebuilders reporting less confidence in the housing market. The Housing Market Index was reported on Monday.

In the broad market, financials and real estate led gains. Technology stocks were also lower for the day with the S&P 500 technology sector down -0.02%. Futures for the Dow were off 60 points, or 0.3%, at 20,509, while those for the S&P 500 were down 5 points, or 0.2%, at 2,339.

Despite the rising geopolitical risks, the Toronto Stock Exchange's S&P/TSX composite index climbed 149.41 points to 15,684.89, with almost all sectors finishing the day in the positive. The Dow Jones in particular surged 184 points in one session - boosted by Goldman Sachs and Boeing. The S&P 600 Small-Cap Index closed at 826.19 for a gain of 0.95 points or 0.12%.

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