US stocks closed mixed on Monday as Citigroup's earnings report rattled bank stocks and healthcare shares were buoyed by a Gilead Science's $5.1 billion investment in Galapagos NV.
Despite reporting better than expected revenue and earnings per share, Citigroup's financial results sent bank shares falling over concerns that the bank's reported drop in net interest margins could be a problem for other Wall Street firms.
Major US banks including Goldman Sachs, Wells Fargo, Morgan Stanley, and Bank of America are also expected to report second-quarter earnings this week.
Healthcare stocks were helped by the announcement of Gilead investing $5.1 billion to deepen its partnership with Galapagos, a Belgian biotech firm. The announcement sent shares of Galapagos soaring as much as 20% and Gilead rose by as much as 2.5%.
Here's a look at today's closing numbers:
Boeing's 737 Max planes might be grounded into 2020, a new report from the Wall Street Journal found. Shares of the aircraft manufacturer fell by as much as 1.7% as the fallout from the 737 Max crisis persists.
Shares of Symantec plunged as much as 16% amid reports Broadcom was no longer pursuing a purchase of the cybersecurity firm. According to CNBC, Symantec refused to accept anything less than $28 a share for the company.
Within the S&P 500, these were the largest gainers:
And the largest decliners:
China also reported its economy grew by 6.2% in the second quarter of 2019 as trade tensions continue to rise with the US. The figure represents the slowest growth rate in close to 27 years for the world's second largest economy.
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