Stock Market Update

[BRIEFING.COM] The S&P 500 shows a 0.5% decline and the Nasdaq Composite trades 1.2% lower.

Many bank stocks trade higher in front of earnings reports from influential names in the space this week. The SPDR S&P Bank ETF (KRE) sports a 0.4% increase and the SPDR S&P Regional Banking ETF (KRE) shows a 0.6% gain. 

JPMorgan Chase (JPM 242.89, +3.02, +1.3%), Wells Fargo (WFC 70.20, +0.24, +0.3%), Citigroup (C 71.90, +0.50, +0.7%), Goldman Sachs (GS 560.96, +0.96, +0.2%), and others report earnings before the open on Wednesday.

Morgan Stanley (MS 123.86, +0.40, +0.3%), US Bancorp (USB 47.83, +0.46, +1.0%), and PNC (PNC 191.29, +2.27, +1.2%) also trade up in front of their earnings reports before the open on Thursday. Bank of America (BAC 44.88, -0.22, -0.5%) is another name reporting earnings Thursday, but trades lower so far today.