The Financial Markets

The second quarter earnings season started just like the Fourth of July - with a bang!
The hard-hit financial sector delivered some good news last week as companies such as Goldman Sachs and JP Morgan Chase announced earnings that pleased the market. In the tech sector, Intel and IBM provided support, too. On the other hand, widely watched General Electric came out with earnings and guidance last Friday that was disappointing and the stock dropped 6% by the end of the day. The good news was that the big drop in GE stock did not take the rest of the market with it - perhaps a sign that investors don’t view GE as the bellwether stock it once was.