Stock Market Today – Bank of America and JPMorgan Chase Under Pressure as European Debt Worries Loom

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(Best Syndication News) Financial and tech stocks suffered the most last week during Friday’s sell-off (see stock chart below). Disappointing initial jobless claims numbers and a potential downgrade of European sovereign debt festered as traders began to seek safe-havens.

All of the S&P sectors were lower Friday; however the industrial, financial, and info-tech sectors were hit especially hard (see the sector charts below). Traders saw the share price of Bank of America Corp (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM) fall more than 2.5 percent.

Standard and Poor’s reviewed the policy decisions of European leaders and downgraded the long-term debt of France, Italy, Spain and several other countries. France was knocked down one notch while Spain and Italy saw their credit rating fall two notches.

Deutsche Bank, Barclays PLC (Lon), and many other European banks declined in value. U.S. banks were not immune, and continued to fall even after the markets closed Friday.

BAC declined another cent to $6.60 a share and JPM slipped four cents to $35.88 a share. The financial sector fell 0.8 percent as a whole.

A weak earnings report by Oracle last week helped drive-down technology stocks. Intel Corporation (NASDAQ:INTC) fell more than two percent while Hewlett-Packard Company (NYSE:HPQ) declined nearly two percent.

Last month the worry was Thailand flooding. This month the concern is lower than expected earnings. Not only did Oracle fall short, they also forecasted lower than expected revenue during the next reporting period.

The Dow technology sector declined 0.71 percent.

On Monday, markets in Europe were mostly higher following a down-day in Asia. The Shanghai composite index (China) declined 1.68 percent, while the Nikkei 225 (Japan) and Hang Seng (Hong Kong) slipped 1.43 percent and 1.0 percent respectively.

Markets in Europe turned around and gained later in the day Monday. The FTSE 100 (England) gained 0.37 percent while the CAC-40 (France) and the DAX (France) gained 0.89 percent and 1.25 percent respectively. The DAX was higher throughout most of the day.

By: Dan Wilson

World Market Chart:

Monday World Stock Indexes 1 Day 1 Day 1 Week 30-Day 100-Day
1/15/2012 N. & S. AMERICA Pt Change % Change % Change % Change % Change
12,422.06 Dow Jones Industrial -48.96 -0.39% 0.50% 2.68% 7.84%
1,289.09 S&P 500 -6.41 -0.49% 0.88% 2.55% 6.53%
2,710.67 NASDAQ Composite -14.03 -0.51% 1.36% 2.07% 5.80%
12,258.60 S&P TSX Canada 27.54 0.23% 0.54% 1.47% -2.98%
59,956.46 Brazil Bovespa Stock 809.88 1.37% 1.48% 0.71% 8.25%
36,916.16 IPC MXX - Mexico 367.60 1.01% 0.36% -0.42% 5.03%
764.20 Russell 2000 Sm-Cap -6.29 -0.82% 1.93% 2.30% 10.47%
762.70 Russell 3000 98% Mkt -4.09 -0.53% 1.09% 2.48% 9.51%
EUROPE
5,657.44 FTSE 100 England 20.80 0.37% 0.81% 1.59% 7.38%
3,225.00 CAC 40 France 28.51 0.89% 3.11% 1.43% 2.07%
6,220.01 DAX Germany 76.93 1.25% 3.37% 3.17% 10.21%
649.55 Athens Greece Comp. 4.61 0.71% 0.25% -4.34% -32.21%
6,031.24 SSMI - Swiss Market 34.90 0.58% 0.38% 4.57% 10.68%
845.55 SMSI - Madrid Spain -0.48 -0.06% 2.40% -3.28% -3.77%
16,036.38 FTSE Italia All (Italy) 184.23 1.16% 5.25% -3.29% -4.97%
ASIA & PACIFIC
2,206.63 Shanghai China -37.63 -1.68% -0.87% -5.13% -14.03%
8,378.36 Nikkei 225 Japan -121.66 -1.43% -0.14% -2.30% -6.43%
19,012.20 Hang Seng Hong Kong -192.22 -1.00% 0.78% 0.37% -5.90%
7,103.62 TSEC Taiwan Exchange -77.92 -1.09% 0.15% 2.12% -7.10%
4,147.20 S&P ASX 200 Australia -48.70 -1.16% 1.02% -3.66% -2.86%
16,189.36 BSE Sensex Bombay 34.74 0.22% 2.37% -3.67% -2.92%
4,873.90 CNX NIFTY NSE India 7.90 0.16% 2.76% -3.28% -2.54%
1,859.27 Korea Com KOSPI -16.41 -0.87% 1.79% -2.29% 0.84%
2756.49 STI Straight Times -35.05 -1.26% 2.42% 0.26% -1.27%

Dow Jones Industrial Average Chart:

Friday Dow Constituents One Day One Day 5-Day 30 Day 100-Day
1/13/2012 Name Point Ch. % Change % Change % Change % Change
6.61 Bank of America... (0.18) -2.65% 6.96% 19.53% 4.92%
35.92 JPMorgan Chase & Co. (0.93) -2.52% 1.58% 17.93% 3.28%
25.14 Intel Corporation (0.61) -2.37% -0.44% 0.88% 27.55%
26.49 Hewlett-Packard Co (0.46) -1.71% 0.34% -6.13% 7.95%
76.08 United Technologies... (1.16) -1.50% 2.95% -0.65% 8.79%
9.8 Alcoa Inc. (0.13) -1.31% 6.99% -0.10% -16.10%
74.6 The Boeing Company (0.91) -1.21% 0.84% 5.10% 22.76%
37.77 Kraft Foods Inc. (0.45) -1.18% 0.59% 3.48% 10.79%
66.99 The Coca-Cola Co (0.58) -0.86% -2.81% 0.24% -3.00%
38.4 The Walt Disney Co (0.33) -0.85% -3.78% 6.70% 19.59%
83.6 3M Company (0.68) -0.81% 0.28% 4.11% 4.93%
179.16 Intl. Business Machines (1.39) -0.77% -1.85% -5.43% 9.03%
38.32 Merck & Co., Inc. (0.29) -0.75% -0.39% 7.40% 19.97%
59.37 The Travelers Co (0.43) -0.72% 0.03% 7.87% 20.30%
21.84 Pfizer Inc. (0.15) -0.68% 1.25% 9.04% 19.74%
18.84 General Electric Co (0.09) -0.48% 1.02% 18.42% 21.24%
19.06 Cisco Systems, Inc. (0.09) -0.47% 1.11% 2.58% 23.45%
100.35 McDonald's Corporation (0.22) -0.22% -0.25% 5.08% 12.09%
30.07 AT&T Inc. (0.05) -0.17% 1.31% 4.26% 3.76%
65.81 The Procter & Gamble... 0.00 0.00% -0.83% 2.70% 4.43%
38.92 Verizon Communication 0.00 0.00% 1.54% 3.04% 8.23%
65.26 Johnson & Johnson 0.03 0.05% 0.66% 1.26% 0.45%
59.54 Wal-Mart Stores, Inc. 0.04 0.07% 0.92% 1.59% 11.90%
84.88 Exxon Mobil Corp 0.14 0.17% -0.28% 6.38% 15.23%
49.76 American Express Co 0.11 0.22% 3.09% 4.12% 7.20%
43.51 The Home Depot, Inc. 0.12 0.28% 0.72% 10.60% 31.41%
102.48 Caterpillar Inc. 0.54 0.53% 7.02% 5.85% 23.50%
48.4 E.I. du Pont 0.30 0.62% 5.13% 2.35% 6.56%
28.25 Microsoft Corporation 0.25 0.89% 0.53% 11.75% 14.28%
106.09 Chevron Corporation 1.12 1.07% -2.05% 4.18% 9.00%

Sector Chart:

Friday S&P Sector Name (10) One-Day One-Week 30-Day 100-Day
1/13/2012 % Change % Change % Change % Change
522.47 Energy -0.36% -1.24% -0.06% 7.04%
228.45 Materials -0.63% 3.93% 6.00% 10.12%
307.18 Industrials -0.74% 2.55% 6.31% 17.68%
318.87 Consumer Discretionary -0.30% 0.74% 4.39% 13.89%
331.28 Consumer Staples -0.10% -0.26% 1.43% 6.01%
410.02 Health Care -0.40% 0.89% 4.74% 10.89%
186.16 Fixl29-3.28%-0.10%nancials -0.80% 3.09% 8.98% 12.02%
420.84 Info Tech -0.71% 0.08% 1.14% 12.42%
127.96 Telecom Svc -0.09% 1.33% 2.66% 3.86%
177.35 Utilities -0.14% -0.43% 0.10% 6.84%
Friday Dow Sectors (10) One-Day One-Week 30-Day 100-Day
1/13/2012 % Change % Change % Change % Change
3033.42 Basic Materials -1.02% 3.62% 4.02% 6.39%
3372.79 Consumer Goods -0.36% 0.45% 2.35% 7.00%
3590.45 Consumer Services -0.26% 0.86% 3.59% 12.78%
2881.88 Financials -0.69% 2.51% 7.77% 11.39%
3446.04 Health Care -0.32% 1.32% 5.26% 11.47%
3183.22 Industrials -0.73% 2.73% 5.89% 17.45%
5711.04 Oil & Gas -0.45% -1.36% -0.10% 7.13%
6392.46 Technology -0.71% 0.25% 1.32% 12.55%
1084.96 Telecommunications -0.21% 1.60% 3.06% 3.18%
1838.86 Utilities -0.12% -0.39% 0.12% 7.23%

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