US Midday: JP Morgan and Barclays drag Wall Street lower

Date: Thursday 28 Jun 2012

- Finance stocks hit by Barclays and JP Morgan news
- Investors eye Brussels EU summit

Dow Jones: -1.05%
S&P 500: -0.99%
NASDAQ: -1.42%

Wall Street was down following revelations of even bigger trading losses at JP Morgan and a record fine for Barclays.

The New York Times has reported JP Morgan may lose up to $9bn from positions taken on credit derivatives at its London office.

Barclays was hit with a record fine yesterday after admitting manipulating the London Interbank Offer Rate.

Meanwhile, EU leaders are gathering in Brussels for a summit, top of the agenda will be how to reduce borrowing costs for the likes of Italy and Spain, with France pushing the idea of eurobonds, and Germany resisting.

COMPANIES

Alongside JP Morgan, Bank of America and Citigroup also fell.

Pfizer shares dropped after the US Supreme Court ruled in favour of the main aspects of President Obama’s healthcare reforms.

BS

S&P 500 - Risers
Tenet Hlthcre Corp. (THC) $5.34 +7.23%
Best Buy Co. Inc. (BBY) $20.52 +3.66%
Newfield Exploration Co (NFX) $27.16 +3.51%
Laboratory Corporation of America Holdings (LH) $92.00 +2.94%
Murphy Oil Corp. (MUR) $47.53 +2.44%
Quest Diagnostics (DGX) $59.02 +2.38%
Peabody Energy Corp. (BTU) $22.68 +1.84%
Abercrombie & Fitch Co. (ANF) $31.09 +1.67%
R.R. Donnelley & Sons Co. (RRD) $11.96 +1.46%
Sprint Nxtel Corp. (S) $3.17 +1.44%

S&P 500 - Fallers
First Solar Inc. (FSLR) $14.59 -4.95%
WellPoint Inc. (WLP) $66.09 -4.89%
Chipotle Mexican Grill Inc. (CMG) $372.95 -4.80%
JP Morgan Chase & Co. (JPM) $35.08 -4.62%
Monster Worldwide Inc. (MWW) $7.91 -4.35%
Cabot Oil & Gas Corp. (COG) $39.45 -4.34%
Red Hat Inc. (RHT) $52.08 -4.30%
Citrix Systems Inc. (CTXS) $77.10 -4.25%
Ross Stores Inc. (ROST) $61.24 -3.86%
Citigroup Inc. (C) $26.06 -3.84%

Dow Jones I.A - Risers

Dow Jones I.A - Fallers
JP Morgan Chase & Co. (JPM) $35.08 -4.62%
Intel Corp. (INTC) $25.61 -2.33%
United Technologies Corp. (UTX) $72.45 -2.31%
Microsoft Corp. (MSFT) $29.50 -2.22%
Cisco Systems Inc. (CSCO) $16.38 -2.09%
Bank of America Corp. (BAC) $7.62 -1.93%
Boeing Co. (BA) $70.70 -1.63%
American Express Co. (AXP) $56.01 -1.53%
Alcoa Inc. (AA) $8.40 -1.47%
Travelers Company Inc. (TRV) $61.91 -1.46%

Nasdaq 100 - Risers
Costco Wholesale Corp. (COST) $92.53 +1.32%
Express Scripts Holding Co (ESRX) $54.12 +1.16%
Dish Network Corp. (DISH) $27.44 +0.51%
Warner Chilcott Plc (WCRX) $18.02 +0.39%

Nasdaq 100 - Fallers
Vertex Pharmaceuticals Inc. (VRTX) $54.19 -11.32%
Seagate Technology Plc (STX) $23.20 -5.42%
First Solar Inc. (FSLR) $14.59 -4.95%
Citrix Systems Inc. (CTXS) $77.10 -4.25%
Ross Stores Inc. (ROST) $61.24 -3.86%
Paychex Inc. (PAYX) $30.71 -3.82%
Cognizant Technology Solutions Corp. (CTSH) $55.44 -3.78%
eBay Inc. (EBAY) $40.70 -3.76%
Check Point Software Technologies Ltd. (CHKP) $47.51 -3.75%
Autodesk Inc. (ADSK) $32.34 -3.61%

BS

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