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Goldman Sachs ( GS ) rises after Q1 profit beat

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Salesforce ( CRM ) falls on report of likely Informatica ( INFA ) deal

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Indexes: Dow up 0.18%, S&P up 0.07%, Nasdaq down 0.13%

(Updated at 11:26 a.m. ET/1526 GMT)

By Shashwat Chauhan and Shristi Achar A

April 15 (Reuters) -

The Dow outpaced Wall Street peers on Monday, boosted by

robust gains in Goldman Sachs ( GS ), while rising Treasury yields

following stronger-than-anticipated retail sales data kept gains

in check.

Goldman Sachs ( GS )

gained 3.1% after its first-quarter profit beat Wall

Street estimates, fueled by a recovery in underwriting, deals

and bond trading that lifted its earnings per share to the

highest since late 2021.

M&T Bank ( MTB )

jumped 5.1% after forecasting better-than-expected

annual net interest income (NII), while brokerage Charles Schwab ( SCHW )

added 3.1% despite reporting a fall in quarterly

profit.

The stocks lifted the financial sector 0.4%,

which was among top sectoral gainers.

U.S. retail sales

increased more than expected in March amid a surge in

receipts at online retailers, further evidence that the economy

ended the first quarter on solid ground.

"With the hot CPI we had last week, the economic

evidence is pointing to a strong economy with inflation, and

that does not play well with the revised thoughts of rate cuts,"

said Andre Bakhos, managing member at Ingenium Analytics.

Yields across government bonds rose following the data,

with the yield on the 10-year note rising to 4.624%,

its highest level since November.

Rate-sensitive sectors such as real estate and

utilities were amongst top loses across the major S&P

500 sectors.

Meanwhile, President Joe Biden warned Israeli Prime

Minister Benjamin Netanyahu the United States would not

participate in a counter-offensive against Iran.

Iran launched an attack after a suspected Israeli strike

on its embassy compound in Syria on April 1 that killed top

Revolutionary Guards commanders. However, Iran's attack,

launched using more than 300 missiles and drones, caused only

modest damage in Israel.

U.S. equities have sold off recently as investors sharply

readjusted their expectations of how much the Fed would cut

rates this year. Traders have priced in only 39 basis points of

cuts this year, according to LSEG data, down from about 150 bps

at the start of the year.

Meanwhile, the Wells Fargo Investment Institute raised its

S&P 500 year-end 2024 forecast to 5,100-5,300 from 4,800-5,000.

At 11:26 a.m. ET, the Dow Jones Industrial Average

was up 68.61 points, or 0.18%, at 38,051.85, the S&P 500

was up 3.82 points, or 0.07%, at 5,127.23, and the Nasdaq

Composite was down 20.26 points, or 0.13%, at 16,154.84.

Apple ( AAPL ) fell 0.8% after data from research firm IDC

showed the company's smartphone shipments dropped about 10% in

the first quarter of 2024.

Tesla will lay off more than 10% of its global

workforce, an internal memo seen by Reuters showed. Shares of

the EV maker were last down 3.0%.

Salesforce ( CRM ) shed 5.5% after Reuters reported, citing

a source, that the customer relations software maker was in

advanced talks to acquire Informatica ( INFA ).

Declining issues outnumbered advancers for a 1.89-to-1 ratio

on the NYSE for a 2.07-to-1 ratio on the Nasdaq.

The S&P index recorded five new 52-week highs and six new

lows, while the Nasdaq recorded 25 new highs and 209 new lows.