Power Breakfast: Dow Slips 400 Points As Goldman Sachs Drops 6%, NASDAQ Gains For 7th Consecutive Day

Mixed action was seen in the American markets after 3 days of holiday. After 4 days of rally, the Dow slipped 400 points to close at the day's low. While the NASDAQ gained 16 points for the seventh consecutive day. The 10-year bond yield reached near 3.55%. Goldman Sachs fell 6%, profit fell 69%. Morgan Stanley jumped 6%. Tesla's stock gained 7%. Today all eyes on December retail sales data. December retail sales are expected to decline by 0.8%-1%. The December Production Price Index will also be watched. December Production Price Index is estimate to decline from 7.4% to 6.8%.