Wall Street dips ahead of big bank earnings

REUTERS: Wall Street's main indexes dipped on Thursday, hit by a drop healthcare shares, but gains in financials ahead of big bank earnings helped limit losses.Advertisement

"We are in a week that kicks off earnings season, it is not unusual for the markets to turn sideways until we start things off and get an idea of what the first quarter is going to look like," said Art Hogan, chief market strategist at National Securities in New York. Concerns about trade and financial conditions have pushed central banks to take a dovish stance, broadly supporting the appetite for risky assets.

The S&P healthcare sector fell 0.79per cent, dragged down by losses of more than 1per cent in UnitedHealth Group Inc and Merck & Co. The Nasdaq Biotech index fell 1.29per cent.

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