Stock Market Today – General Motors (GM) Morgan Stanley (MS) AIG and Xerox (XRX) Report

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(Best Syndication News) Stock markets are opening higher in Europe after closing lower in Asia on Wednesday (see the stock charts below). The Dow dropped more than 200 points on Tuesday as traders worried about the Greek debt situation.

Although European leaders agreed to the second round of bailouts for the Hellenic Republic, Greek lawmakers still need to massage their sovereign debt holders into rolling over their debt at up to a 70 percent discount. If this is not done by Thursday, credit default swap agreements could be triggered.

Markets in the United States and Asia tumbled on fears that Greece would not be able to convince the investors to take such a loss.

Six of the largest banks in Greece have agreed to the new conditions. Another report suggested that Societe Generale (France) and UniCredit (Italy) may also be on board.

The uncertainty pushed the Shanghai (China) composite index down 0.64 percent Wednesday. The Nikkei 225 (Japan) and the Hang Seng (Hong Kong) experienced similar losses. In Europe, the CAC 40 (France), the DAX (Germany), and the FTSE 100 (England) were only slightly higher.

Widely-Held Stocks

Only three of the 90 stocks in our widely-held index were higher on Tuesday (see the widely-held index chart below). General Motors Company (NYSE:GM) fell more than any other constituent, down more than five percent.

The automaker hasn’t recovered from a report late last week that indicated their sales were lagging other car companies. GM has been lower three straight days and the volume was up 60 percent above average Tuesday.

In the after-hours GM slipped another three cents to $24.55. There was a bid of $24.44 for 500 shares and an ask of $24.85 for 500 shares.

Morgan Stanley (NYSE:MS) was another laggard. Recent negative bulletins and uncertainty involving an antitrust case put downward pressure on the New York based bank.

All of the S&P sectors were lower on Tuesday (see the sector chart below). The financial sector slipped 2.46 percent. American International Group, Inc. (NYSE:AIG) fell more than four percent during Tuesday’s session.

The government is fighting a lawsuit that could hold the taxpayer accountable for losses incurred before the bailout of the insurance giant. In the after-hours AIG was up four cents to $29.09.

The share price of Xerox Corporation (NYSE:XRX) slipped more than three percent. Other office equipment makers also suffered, including Ricoh Company Ltd. (ADR) (OTC:RICOY), down nearly three percent, and Pitney Bowes Inc. (NYSE:PBI), down nearly two percent.

Dow futures are higher before the open on Wednesday.

By: Tom Madison
Business Reporter

Widely-Held Chart:

Tuesday Widely Held
Stocks
One Day One Day Five Day 30-Day 100-Day
3/6/2012 Company Change % Change % Change % Change % Change
24.58 General Motors Company -1.42 -5.46% -5.97% -0.85% 5.00% 1
17.32 Morgan Stanley -0.97 -5.30% -7.43% -4.52% 9.34% 2
32.12 Citigroup Inc. -1.56 -4.63% -4.06% 7.42% 10.00% 3
29.05 American Intl. Group... -1.34 -4.41% 0.31% 14.73% 22.26% 4
9.47 Alcoa Inc. -0.40 -4.05% -8.68% -7.79% -5.77% 5
32.5 The Dow Chemical Co -1.19 -3.53% -5.39% -2.64% 19.09% 6
24.17 Hewlett-Packard Co -0.84 -3.36% -7.68% -15.25% -6.57% 7
8.06 Xerox Corporation -0.28 -3.36% -2.89% -7.04% 7.75% 8
7.71 Bank of America Corp -0.26 -3.26% -5.05% 5.76% 17.17% 9
15.9 Weatherford Intl. Ltd. -0.52 -3.17% -3.11% -3.58% 13.98% 10
               
               
17.07 The Western Union... -0.07 -0.41% -3.99% -10.91% 2.52% 80
56.49 Target Corporation -0.21 -0.37% 0.86% 11.31% 7.09% 81
21.02 Duke Energy Corporation -0.07 -0.33% 0.05% -0.57% 6.16% 82
8.08 LSI Corporation -0.02 -0.25% -5.94% 13.17% 41.75% 83
32.12 Texas Instruments Inc. -0.07 -0.22% -4.74% -1.23% 8.15% 84
38.27 Kraft Foods Inc. -0.08 -0.21% 0.71% -0.08% 10.61% 85
12.01 Applied Materials, Inc. -0.02 -0.17% -4.38% -2.44% 6.28% 86
99.89 McDonald's Corporation -0.05 -0.05% 0.11% 1.15% 13.05% 87
26.6 Intel Corporation 0.06 0.23% -2.35% -1.12% 15.05% 88
51.48 Motorola Solutions Inc 0.81 1.60% 2.73% 7.56% 14.50% 89
15.36 Staples, Inc. 0.31 2.06% -4.00% -4.30% 3.78% 90

World Market Chart:

Tuesday World Stock Indexes 1 Day 1 Day 1 Week 30-Day 100-Day
3/6/2012 N. & S. AMERICA Pt Change % Change % Change % Change % Change
12,759.15 Dow Jones Industrial -14.76 -0.11% -0.14% 2.26% 11.97%
1,343.36 S&P 500 -5.30 -0.39% -0.24% 3.78% 11.34%
2,910.32 NASDAQ Composite -25.71 -0.86% -0.53% 5.88% 11.03%
12,298.63 S&P TSX Canada -119.87 -0.95% -1.39% 1.04% 3.91%
65,114.15 Brazil Bovespa Stock -817.57 -1.21% 2.64% 7.17% 21.68%
37,487.63 IPC MXX - Mexico -172.16 -0.45% 0.98% 3.53% 8.98%
2,651.60 MerVal Buenos Aires -66.72 -2.42% -2.61% -7.17% -1.54%
787.09 Russell 2000 Sm-Cap 1.23 0.15% -2.78% 1.95% 13.30%
795.57 Russell 3000 98% Mkt -3.06 -0.38% -0.54% 3.79% 11.90%
EUROPE
5,765.80 FTSE 100 England -36.31 -0.61% -0.69% 2.14% 8.58%
3,362.56 CAC 40 France -13.63 -0.39% 1.34% 4.96% 11.03%
6,633.11 DAX Germany -54.91 -0.79% 0.25% 6.97% 16.83%
755.06 Athens Greece Comp. -14.62 -1.95% -2.00% 4.44% -0.46%
822.76 IGBM Madrid Spain -10.52 -1.22% -0.83% -1.09% -3.90%
6,047.53 SSMI - Swiss Market 4.54 0.07% 0.16% 0.31% 8.30%
17,198.86 FTSE Italia All (Italy) -111.17 -0.62% 2.47% 5.31% 5.27%
ASIA & PACIFIC
2,411.26 Shanghai China -14.04 -0.57% -0.04% 5.44% 2.64%
9,637.63 Nikkei 225 Japan -78.44 -0.80% 0.67% 10.40% 10.94%
20,806.25 Hang Seng Hong Kong -296.95 -1.38% 0.22% 5.74% 17.64%
7,937.97 TSEC Taiwan Exchange -109.70 -1.35% 0.57% 10.66% 8.77%
4,194.00 S&P ASX 200 Australia -32.70 -0.77% -0.63% 0.38% 1.28%
17,173.29 BSE Sensex Bombay -274.12 -1.55% -0.48% 2.16% 3.67%
5,222.40 CNX NIFTY NSE India -79.05 -1.47% -0.02% 2.98% 4.82%
2,000.36 Korea Com KOSPI -18.57 -0.91% 1.25% 3.39% 9.63%
2932.01 STI Singapore -1.69 -0.06% 1.53% 5.00% 9.80%

Sector Chart:

Tuesday S&P Sector Name (10) One-Day One-Week 30-Day 100-Day
3/6/2012 % Change % Change % Change % Change
545.37 Energy -1.63% -3.16% 1.16% 13.04%
226.85 Materials -2.16% -4.68% -2.03% 9.85%
309.63 Industrials -2.26% -3.70% -0.84% 12.54%
338.07 Consumer Discretionary -1.50% -1.18% 3.59% 12.37%
339.44 Consumer Staples -0.83% -0.26% 2.25% 7.24%
412.49 Health Care -1.40% -1.80% -0.21% 9.31%
194.19 Financials -2.46% -2.55% 1.73% 13.16%
465.23 Info Tech -1.09% -2.09% 6.56% 13.74%
129.6 Telecom Svc -0.84% 0.08% 2.37% 5.49%
176.16 Utilities -0.47% -0.18% 0.46% 3.13%
Tuesday Dow Sectors (10) One-Day One-Week 30-Day 100-Day
3/6/2012 % Change % Change % Change % Change
2994.59 Basic Materials -2.43% -6.27% -3.28% 8.78%
3490.27 Consumer Goods -1.50% -1.17% 2.89% 7.67%
3797.52 Consumer Services -1.21% -1.16% 3.24% 12.41%
3006.56 Financials -2.20% -2.38% 1.91% 13.73%
3490.68 Health Care -1.56% -2.22% 0.39% 10.72%
3246.32 Industrials -2.20% -3.63% -0.28% 13.49%
5989.54 Oil & Gas -1.73% -3.38% 1.58% 14.12%
7052.82 Technology -1.13% -2.38% 6.02% 13.77%
1105.39 Telecommunications -0.96% -0.32% 2.68% 5.92%
1829.3 Utilities -0.55% -0.25% 0.40% 3.79%

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