Financial Winners and Losers: Goldman

Updated stock prices, indices throughout.

Financial stocks slipped Wednesday, as investors fretted over upcoming earnings reports and the likelihood of economic recovery in the near-term.

The NYSE Financial Sector Index closed down 1.5% to 3661.97, as the market prepared for the unofficial start of earnings season with Alcoa's ( AA) report after the bell. Next week, Goldman Sachs ( GS) and Citigroup ( C) are among the big financial companies to report.

Both of those stocks traded lower Wednesday, despite news that demand for mortgages picked up again after hitting a seven-month low last week, according to the Mortgage Bankers Association.

Goldman shares closed down 2.8% to $138.55 and Citi shares lost 2.6% to $2.62. Bank of America ( BAC) shares were shed 2.8% to $11.81, Wells Fargo ( WFC) was off 1.8% to $22.91 and JPMorgan Chase ( JPM) lost 10 cents to $32.71.

Discover Financial Services ( DFS) shares lost 2.7% to $9.12 after the credit card company on late Tuesday priced a public stock offering it hoped would raise as much as $552 million it may use to repay government bailout money.

Larger rival American Express ( AXP) shares fell as much as 2.7% after Chairman and CEO Kenneth Chenault told CNBC charge-offs continued to rise and he didn't see a recovery until the second half of 2010. But the stock rallied to the close, finishing up 9 cents to $22.72.
This article was written by a staff member of

If you liked this article you might like

How to Get Rich Using Warren Buffett's Favorite Stock Market Indicators

With the Fed, It's Different This Time

How to Live Just Like Billionaire Warren Buffett

Why Hurricanes Won't Force the Fed to Ditch a December Rate Hike

How to Make a Deal Like Billionaire Investor Warren Buffett