Signs of margin pressures
The S&P 500 continues to waver in negative territory with a 0.4% decline. The Nasdaq is back in the red with a 0.2% decline.Apart from the disappointing bank earnings reactions, risk sentiment has been pressured by downside guidance from Sherwin-Williams (SHW 308.16, -9.27, -2.9%) and Boston Beer (SAM 455.09, -33.88, -6.9%), which could be foreshadowing margin pressures for other companies due to labor issues and other COVID headwinds. In addition, Walt Disney (DIS 149.32, -6.11, -3.9%) was downgraded to Neutral from Buy at Guggenheim, citing slowing profit growth in streaming and parks, according to CNBC. Disney shares are down 4%.