NEW YORK (REUTERS) - US stocks take a step back on Thursday (Jan 13), with financials sinking just a day ahead of the first earnings reports from the sector. The lack of details on economic policy during Donald Trump's press conference earlier in the week hit investor optimism.
US Bank's Eric Wiegand said, "We believe it is just a consolidation of some of the heady gains that we experienced during the last two months of 2016. You know we've gone from a period of home and promise and the expectation now we need to get greater detail. That is really what investors are waiting for. "
Amazon has announced plans to create more than 100,000 jobs in the United States, becoming the latest company to boast a hiring spree since Donald Trump won the presidential election.
The US Environmental Protection Agency accused Fiat Chrysler of illegally using hidden software that allowed significant excess diesel emissions. Fiat Chrysler CEO Sergio Marchionne denied the company was cheating and has been in talks with EPA and made significant disclosures of documents.
In Europe, the FTSE extended its winning streak to 13 days but overall the indexes closed mixed.