US close: Stocks finish down but rally on summit developments

Date: Thursday 28 Jun 2012

Dow Jones: 12,602 (-0.20%)
Nasdaq: 2,849 (-0.90%)
S&P 500: 1,329 (-0.21%)

US stocks finished in the red on Thursday but rebounded dramatically off their earlier lows after German Chancellor Angela Merkel cancelled a press conference at the EU summit scheduled for this evening.

Details over the reason why the press conference were still unknown by the close but investors were hoping that it was because a potential deal was being crafted by European leaders.

Officials have gathered in Brussels today for a two-day meeting where they are looking to tackle the sovereign debt crisis as they work towards a plan for tighter integration.

JPMorgan drops; healthcare stocks mixed

JPMorgan Chase & Co was in focus today after a New York Times article said that trading losses at the bank could be as much as $9bn. Sector peers Morgan Stanley, Bank of American and Citigroup also finished lower.

Hospital groups Tenet Healthcare and Community Health Systems surged after President Barack Obama's landmark health care reform initiative was upheld by the US Surpeme Court. Meanwhile, insurance firms Aetna and WellPoint dropped.

Economic data largely in-line

Initial weekly unemployment claims fell by 6,000 last week, to 386,000
(Consensus: 385,000).

The Bloomberg Consumer Comfort Index rose to -36.1 in the week ended June 24th from -37.9 in the previous period.

US first quarter gross domestic product grew at a 1.9% quarterly annualised clip, in line with the consensus forecast.


S&P 500 - Risers
Genworth Financial Inc. (GNW) $5.43 +10.59%
Tenet Hlthcre Corp. (THC) $5.50 +10.44%
Best Buy Co. Inc. (BBY) $20.88 +5.45%
United States Steel Corp. (X) $20.79 +5.32%
Newfield Exploration Co (NFX) $27.50 +4.80%
Peabody Energy Corp. (BTU) $23.27 +4.49%
Micron Technology Inc. (MU) $5.97 +4.37%
AK Steel Holding Corp. (AKS) $6.10 +4.27%
Sprint Nxtel Corp. (S) $3.26 +4.15%
Murphy Oil Corp. (MUR) $48.26 +4.01%

S&P 500 - Fallers
WellPoint Inc. (WLP) $64.01 -7.89%
F5 Networks Inc. (FFIV) $93.36 -4.54%
First Solar Inc. (FSLR) $14.75 -3.91%
Chipotle Mexican Grill Inc. (CMG) $376.95 -3.79%
eBay Inc. (EBAY) $40.78 -3.57%
VF Corp. (VFC) $134.00 -3.27%
Red Hat Inc. (RHT) $52.68 -3.20%
Ross Stores Inc. (ROST) $61.67 -3.19%
Dell Inc. (DELL) $11.95 -3.08%
Teradyne Inc. (TER) $13.44 -3.03%

Dow Jones I.A - Risers
Chevron Corp. (CVX) $103.46 +0.87%
AT&T Inc. (T) $35.39 +0.57%
Procter & Gamble Co. (PG) $60.29 +0.52%
Caterpillar Inc. (CAT) $82.63 +0.46%
Verizon Communications Inc. (VZ) $43.97 +0.43%
Merck & Co. Inc. (MRK) $40.68 +0.37%
General Electric Co. (GE) $20.20 +0.35%
Coca-Cola Co. (KO) $76.57 +0.30%
Home Depot Inc. (HD) $51.69 +0.27%
Johnson & Johnson (JNJ) $66.94 +0.15%

Dow Jones I.A - Fallers
JP Morgan Chase & Co. (JPM) $35.88 -2.45%
United Technologies Corp. (UTX) $72.60 -2.10%
Cisco Systems Inc. (CSCO) $16.48 -1.49%
Intel Corp. (INTC) $25.83 -1.49%
Microsoft Corp. (MSFT) $29.91 -0.86%
International Business Machines Corp. (IBM) $191.40 -0.83%
Hewlett-Packard Co. (HPQ) $19.36 -0.77%
Wal-Mart Stores Inc. (WMT) $68.30 -0.42%
Boeing Co. (BA) $71.58 -0.40%
Bank of America Corp. (BAC) $7.74 -0.39%

Nasdaq 100 - Risers
Express Scripts Holding Co (ESRX) $54.79 +2.41%
Warner Chilcott Plc (WCRX) $18.37 +2.34%
Costco Wholesale Corp. (COST) $92.92 +1.75%
Cintas Corp. (CTAS) $37.40 +0.97%
Dish Network Corp. (DISH) $27.55 +0.92%
Sears Holdings Corp. (SHLD) $57.10 +0.83%
Nvidia Corp. (NVDA) $13.24 +0.76%
J.B. Hunt Transport Services Inc. (JBHT) $57.74 +0.73%
Fastenal Co. (FAST) $38.63 +0.68%
Henry Schein Inc. (HSIC) $77.63 +0.49%

Nasdaq 100 - Fallers
Vertex Pharmaceuticals Inc. (VRTX) $51.18 -16.25%
Seagate Technology Plc (STX) $23.25 -5.22%
First Solar Inc. (FSLR) $14.75 -3.91%
Check Point Software Technologies Ltd. (CHKP) $47.48 -3.81%
eBay Inc. (EBAY) $40.78 -3.57%
Ross Stores Inc. (ROST) $61.67 -3.19%
Dell Inc. (DELL) $11.95 -3.08%
Citrix Systems Inc. (CTXS) $78.12 -2.98%
Paychex Inc. (PAYX) $30.98 -2.98%
Logitech International S.A. (LOGI) $10.30 -2.83%

BC

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