Wall Street fell on Thursday after quarterly results from Goldman Sachs Group
Consumer prices rose marginally in September and the number of workers filing new claims for jobless insurance hit a nine-month low last week, more proof the economy was healing after a protracted recession, but not enough to turn stocks.
Although the earnings from Goldman and Citigroup came in better than the analysts' forecasts, their results came a day after much stronger-than-expected numbers from JPMorgan Chase & Co
The blowout number that JPMorgan had yesterday ... raised expectations, said Peter Jankovskis, co-chief investment officer at Oakbrook Investments in Lisle, Illinois. Goldman produced great numbers but apparently didn't live up to those heightened expectations.
Goldman Sachs fell 1.5 percent, and Citigroup
Two important early regional gauges of business activity gave a mixed picture of the prospects for an economic recovery. Factory activity in the U.S. Mid-Atlantic region grew less than expected in October, conflicting with a much more robust reading out of New York state earlier in the day.
The Dow Jones industrial average <.DJI> dropped 23.88 points, or 0.24 percent, to 9,991.98. The Standard & Poor's 500 Index <.SPX> fell 3.76 points, or 0.34 percent, to 1,088.26. The Nasdaq Composite Index <.IXIC> lost 7.12 points, or 0.33 percent, to 2,165.11.
Big technology names are due to report third-quarter earnings after the bell, including International Business Machines Corp and Google Inc. Analysts are looking for a revenue to grow at Google
IBM's shares fell 1.1 percent and Google edged lower by 0.3 percent. The PHLX semiconductor index <.SOXX> fell 1.7 percent.
(Editing by Padraic Cassidy)