JPMorgan downgraded at Wells Fargo
The S&P 500 continues to struggle with a 0.4% decline while the Nasdaq trades flat. Shares of JPMorgan Chase (JPM 157.58, -10.66, -6.4%) remain distressed with a 6% decline following the company's revenue miss. JPM was recently downgraded to Equal Weight from Overweight at Wells Fargo, which of course beat top and bottom-line estimates today. WFC shares are up 3%. Looking ahead, Goldman Sachs (GS 378.48, -12.37, -3.2%), Charles Schwab (SCHW 94.74, +1.36, +1.5%), and PNC (PNC 222.08, -3.12, -1.4%) are some of the banks that will report earnings prior to Tuesday's open. As a reminder, the market will be closed on Monday in observance of Martin Luther King Jr. Day.