Gold Soars, Banks Slump on Earnings, Blackrock Struggles Despite Beat

Stocks extended their losing streak into a fifth session at the opening bell Thursday on disappointing quarterly results from Bank of America and Citigroup. Bank of America reported a 14% drop in quarterly profit while Citigroup's fourth quarter profit plummeted 86% from a year earlier. Gold, however, is soaring and oil commodity prices are getting a boost as international investors look for safe havens and as European markets are being hit hard. Plus, BlackRock stock is taking a small set back even as its iShares platform sees assets under management increase. U.S. markets are defying international slumps -- but that may not continue.