Stock Market Today – Stocks Slide in US - Bank of America BAC and JPMorgan Chase JPM Hit Lows – OWW Pops

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(Best Syndication News) Stock indexes in the United States plummet more than two percent on bad economic news (see charts below). Every Dow constituent company closed lower Wednesday.

Dow Jones

The Dow Jones Industrial Average (DJIA) closed down 279.65 points (-2.22%) to 12,290.14 (see world market chart below). The market was volatile with the daily range exceeding the 100-day average by 135 percent. The volume was 6.96 percent above average. The Dow broke through yesterday’s S2 support level.

Bank of America Corporation (NYSE:BAC) was the biggest Dow loser today. The share price fell 51 cents (-4.34%) to $11.24. That is a 100-day low for the stock. Over the last 100-days, the price is down 21.94 percent. In after-hours the stock moved a little higher.

Another banking stock, JPMorgan Chase & Co. (NYSE:JPM), hit a 100-day low today. The share price fell $1.48 (-3.42%) to $41.76. The bank continues to open new branches while other banks close them. According to the head of JPMorgan Chase's retail banks, Charlie Scharf, the offices still make money.

Hedge funds are selling bank stocks, according to a Reuters report. Ainslie's Maverick Capital and Altman's Owl Creek Asset Management were mentioned in the report.

S&P 500 and Nasdaq

The S&P 500 fell 30.65 points (-2.28%) to 1,314.55 and the Nasdaq was down 66.11 points (-2.33%) to 2,769.19.

The S&P financial sector fell more than any other sector, down 3.48 percent. Info tech and financials are the only two sectors lower over the last 100 days. Down 6.69 percent, the financial sector has hit a 100-day low.

Winners and Losers

Not all stocks were lower today, and some are gaining in after-hours. During regular trading, Orbitz Worldwide, Inc. (NYSE:OWW) fell nine cents (-3.91%) to $2.21. After the market closed the share price shot-up $1.13 (51.13%) to $3.34.

A U.S. court ruled that Orbitz can post American Airline flight schedules on their website. Back in December, American quit offering fares through the Orbitz website. AMR Corporation (NYSE:AMR) wanted Orbitz to use their AA Direct Connect electronic transaction system, but Orbitz decided not to.

Sealed Air Corp. (NYSE:SEE) fell significantly today. The share price fell 1.71 (-6.69%) to $23.84. The company is paying a 52 percent premium in their $2.9 billion takeover of Diversey Holdings Inc, according to Bloomberg.

By: Dan Wilson

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World Stock Markets:

Wednesday U.S. Markets 1 Day 1 Day 1 Week 30-Day 100-Day
6/1/2011 Pt Change % Change % Change % Change % Change
12,290.14 Dow Jones Industrial Avg -279.65 -2.22% -0.84% -1.73% 4.76%
1,314.55 S&P 500 -30.65 -2.28% -0.45% -1.71% 2.40%
2,769.19 Nasdaq Composite Index -66.11 -2.33% 0.28% -1.81% 1.24%
Wednesday World Market Indexes 1 Day 1 Day 1 Week 30-Day 100-Day
1-Jun-11 Pt Change % Change % Change % Change % Change
140.87 DJ Asian Titans 50 0.47 0.33% 3.93% -2.04% -4.73%
2150.81 The Global Dow -27.23 -1.25% 1.36% -2.54% 0.44%
9,719.61 Nikkei 225 Japan 25.88 0.27% 3.15% 0.35% -8.22%
2,743.97 Shanghai China 0.25 0.01% 0.07% -9.36% -2.96%
23,626.43 Hang Seng Hong Kong -57.70 -0.24% 3.86% -2.12% -2.53%
2603.35 Dow Stoxx - 50 Europe -28.52 -1.08% 0.03% -0.89% -3.00%
2827.66 DJ Euro Stoxx - 50 Europe -34.26 -1.20% 0.38% -3.70% -3.02%
5,928.61 FTSE 100 England -61.38 -1.02% 1.00% -1.49% -1.58%
3,964.81 CAC 40 France -42.13 -1.05% 0.91% -1.42% -0.25%
7,217.43 DAX Germany -76.26 -1.05% 0.65% -1.07% 2.01%
4,707.30 S&P ASX 200 Australia -1.00 -0.02% 2.67% -4.20% -1.83%
18,608.81 BSE Sensex Bombay India 105.53 0.57% 4.27% -5.07% -2.99%
63,411.48 Brazil Bovespa Stock Index -1,208.60 -1.87% 0.04% -5.44% -10.34%
13,527.88 Canada S&P/TSX -275.00 -1.99% -1.63% -3.18% 0.94%

Technical Data:

Dow Technical Data
Wednesday, June 01, 2011 Value Support and Resistance
Dow Value - Close Today 12,290.14 Yesterday Close 12,569.79
Point Change Today (279.65) Support/Res

Today

% Change Today -2.22% S3 11,853.73
Today's Open 12,569.41 S2 12,140.80
Today's Low 12,282.42 S1 12,286.24
Today's High 12,569.49 Pivot Pt 12,427.87
Today's Range (High - Low) 287.07 R1 12,573.31
Average Daily Range 100 Days 122.03 R2 12,714.94
% Today Daily Range w/ Average Range 135.25% R3 13,002.01
100 Day Low 11,613.30
100 Day High 12,810.54 Support/ Res

Yesterday

Today's Volume * 183,018,116 S3 12,245.94
Average 100 Day Volume * 171,113,881 S2 12,376.83
% of Today Daily Vol. w/ Average Volume 6.96% S1 12,441.15
Point Change MTD 0.00 Pivot Pt 12,507.72
% Change Month To Date (MTD) 0.00% R1 12,572.04
Point Change YTD 615.38 R2 12,638.61
% Change Year To Date (YTD) 5.27% R3 12,769.50
Best Syndication Today Volatility BSNVX1 9.41%
Average Volatility Last 100 Days BSNVX1 1% Moving Averages
Best Syndication Today Volatility BSNVX2 142% 50 Day Moving 12,439.52
Average Volatility Last 100 Days BSNVX2 14% 100 Day Moving 12,228.82
* Volume reflects weighted average

Dow Constituents:

Wednesday Dow Constituents One Day One Day 5-Day 30 Day 100-Day
6/1/2011 Name Symbol Point Ch. % Change % Change % Change % Change
11.24 Bank of America... BAC (0.51) -4.34% -1.23% -8.91% -21.94%
101.24 Caterpillar Inc. CAT (4.56) -4.31% -1.95% -4.58% 8.41%
16.09 Alcoa Inc. AA (0.72) -4.28% -1.47% -2.13% -2.43%
84.3 United Technologies... UTX (3.47) -3.95% -2.27% 2.36% 7.44%
75.35 The Boeing Company BA (2.68) -3.43% -1.27% 3.01% 9.06%
41.76 JPMorgan Chase & Co. JPM (1.48) -3.42% -1.21% -6.47% -3.78%
49.91 American Express Co AXP (1.69) -3.28% -0.99% 7.01% 12.26%
51.57 E.I. du Pont DD (1.73) -3.25% -1.13% -5.67% 5.18%
91.44 3M Company MMM (2.94) -3.12% -1.35% -0.46% 4.92%
40.4 The Walt Disney Co DIS (1.23) -2.95% -1.77% -2.30% 2.28%
19.13 General Electric Co GE (0.51) -2.60% -0.47% -5.62% 3.35%
16.38 Cisco Systems, Inc. CSCO (0.42) -2.50% 1.17% -1.38% -21.21%
35.4 The Home Depot, Inc. HD (0.88) -2.43% -3.36% -6.27% 2.94%
24.43 Microsoft Corporation MSFT (0.58) -2.32% 0.99% -2.86% -13.43%
102.49 Chevron Corporation CVX (2.42) -2.31% -0.74% -2.76% 13.36%
22 Intel Corporation INTC (0.51) -2.27% -3.00% 10.78% 6.33%
36.63 Hewlett-Packard Co HPQ (0.75) -2.01% 1.72% -8.40% -18.35%
21.05 Pfizer Inc. PFE (0.40) -1.86% 1.30% 2.53% 15.28%
36.27 Verizon Communication VZ (0.66) -1.79% -0.36% -2.60% 0.97%
82.03 Exxon Mobil Corp XOM (1.44) -1.73% 0.09% -2.11% 9.18%
54.3 Wal-Mart Stores, Inc. WMT (0.92) -1.67% -0.48% 1.78% 1.06%
61.2 The Travelers Co TRV (0.88) -1.42% -0.42% 5.19% 13.65%
166.56 Intl. Business Machines IBM (2.37) -1.40% -0.71% 0.70% 12.81%
36.25 Merck & Co., Inc. MRK (0.50) -1.36% -1.20% 7.41% -2.55%
31.17 AT&T Inc. T (0.39) -1.24% 0.55% 2.84% 9.99%
66.48 Johnson & Johnson JNJ (0.81) -1.20% 0.29% 6.05% 6.95%
66.4 The Procter & Gamble... PG (0.60) -0.90% 0.03% 3.98% 3.17%
80.98 McDonald's Corporation MCD (0.56) -0.69% -2.10% 5.72% 10.09%
34.73 Kraft Foods Inc. KFT (0.24) -0.69% 0.87% 3.98% 11.28%
66.76 The Coca-Cola Co KO (0.05) -0.07% -0.22% -0.49% 5.87%

S&P Sectors:


Wednesday Sector Name One-Day One-Week 30-Day 100-Day 100-Day
6/1/2011 % Change % Change % Change % Change Low
557.31 Energy -2.31% -0.56% -2.31% 10.18% 505.8
239.49 Materials -3.06% -0.88% -2.72% 0.21% 230.09
314.12 Industrials -3.21% -1.49% -1.85% 3.28% 304.15
311.63 Consumer Discretionary -2.28% -0.54% 1.16% 4.67% 293.13
328.55 Consumer Staples -1.08% 0.28% 3.66% 8.76% 296.08
410.66 Health Care -1.37% -0.17% 4.94% 10.49% 364.17
205.67 Financials -3.48% -1.28% -4.38% -6.69% 205.67
412.83 Info Tech -2.18% 0.39% 0.77% -0.85% 397.07
134.43 Telecom Svc -1.40% 0.16% 3.07% 4.38% 121.27
168.99 Utilities -1.08% -0.40% 4.55% 5.65% 156.07
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