Stocks Slip as Traders Struggle to Push Aside Loan Fears
All three indexes are lower for the session amid bad loan concerns, but still eye weekly wins across the board.
Wall Street is failing to push aside concerns around bad loans out of Zions Bancorp (ZION) and Western Alliance (WAL), with the Dow Jones Industrial Average (DJI) sitting just below breakeven at midday.
The tech-heavy Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are also struggling, the former down more than 90 points.
Traders now have jobless data to unpack, with Goldman Sachs (GS) estimating that claims fell to 217,000 last week, below the expected 230,000.
All three indexes remain higher for the week, despite government shutdown fatigue and U.S.-China trade tensions.
- Rocket Companies Inc (NYSE:RKT) is trading 1.2% lower at $16.36 at last check, headed for its third-straight daily drop, after the company yesterday announced its next earnings report will be on Oct.
No specific quote available in the given text.
Author's summary: Stocks decline amid loan concerns.
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