ADVFN - Advanced Financial Network.
HOME» NYSE » J » JPM Stock Price » JPM Stock News

Jp Morgan Chase Share News

 Jpmorgan Chase & Co. Stock Price
JPM Stock Price
 Jpmorgan Chase & Co. Stock Chart
JPM Stock Chart
 Jpmorgan Chase & Co. Stock News
JPM Stock News
 Jpmorgan Chase & Co. Company Information
JPM Company Information
 Jpmorgan Chase & Co. Stock Trades
JPM Stock Trades

Financial Shares Tumble After Weak Jobs Report; BAC Down Over 4%

By Liz Moyer and Corrie Driebusch Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Friday's weak jobs report sent financial stocks tumbling in early trading, pushing the broader market lower and diminishing hopes that the rally in the sector earlier this year could be restarted after a dismal May. The subindex of financial stocks within the Standard & Poor's 1500 fell 2.77% while the KBW Bank Index of 24 large bank stocks fell 3.54%, a five month low. The S&P 500 index was down 1.89%. Bank of America shares fell 4.22%, to $7.04, while Morgan Stanley fell 4.13%, to $12.81. Goldman Sachs Group Inc. fell 3.2% to $92.64, and J.P. Morgan Chase & Co. fell 2.89%, to $32.19. Citigroup shares fell 3.58%, to $25.56. With an intraday low of $12.80, Morgan Stanley hit a low last seen about eight months ago. J.P. Morgan's early Friday skid to $32.05 was last hit late last December and Goldman's $92.35 was a nearly six-month low. Regional banks also took the brunt of the selloff. Shares of Huntington Bancshares Inc. in Columbus, Ohio, fell 6.19%, to $6.14; shares of Comerica Inc. in Dallas fell 3.29%, to $29.44; BB&T Corp. in Winston-Salem, N.C. fell 4.17%, to $28.95; and U.S. Bancorp in Minneapolis fell 3.7%, to $29.96. Regional bank stocks are particularly sensitive to any hint of a slowdown in loan growth and merger activity. Bank stocks have been rallying this year, with the KBW bank stock index up 7.75% year-to-date despite Friday's losses, compared with the Dow Jones Industrial Average, which is now flat for the year. The outperformance of bank stocks so far this year "has hit an air pocket," said Gerard Cassidy, a bank stock analyst with RBC Capital Markets. "We're going to need to see a resurgence in the economy to drive bank stocks higher from here." The Labor Department issued a disappointing jobs report for the third straight month, with nonfarm payrolls growing 69,000 in May, the smallest gain in a year and below forecasts for 155,000. Job gains for March and April were also revised lower. The unemployment rate was 8.2%, up one-tenth of a percentage point, the first increase in nearly a year. Concerns about Europe also continued to weigh heavily on the financial sector. Shares of Deutsche Bank AG fell 6.67% in morning trading, to $33.58, while shares of Credit Suisse fell 1.52%, to $18.84, and shares of UBS AG fell 1.76%, to $11.18. European stocks were already down before the U.S. jobs report. The number of people out of work in the euro zone increased in April to the highest number since the introduction of the common currency. -By Liz Moyer and Corrie Driebusch, Dow Jones Newswires; 212-416-2512; liz.moyer@dowjones.com; Twitter: @lizmoyer --Chris Dieterich contributed to this article.

Stock News for Jp Morgan Chase (JPM)
DateTimeHeadline
09/16/201409:44:34U.S. Hot Stocks: Hot Stocks to Watch
09/12/201415:23:39Weather Channel In Talks With Banks on Strategic Options -Bloomberg
09/11/201419:00:08Treasury Monitoring Swaps Loopholes at U.S. Banks
09/03/201401:31:51J.P. Morgan in Talks to Sell Oil-Supply Agreement
09/03/201401:30:21FBI Finds No Evidence J.P. Morgan Breach Hit Other Big U.S. Banks
09/01/201409:40:56US Court Dismisses Aluminum Antitrust Cases
09/01/201407:04:50US Court Dismisses Antitrust Cases Against Aluminum Traders
08/28/201414:25:10J.P. Morgan Working With Law Enforcement on Cyber Attack -- 3rd...
08/28/201414:17:23J.P. Morgan Working With Law Enforcement on Cyber Attack -- 2nd...
08/28/201414:07:17J.P. Morgan Working With Law Enforcement on Cyber Attack -- Update
08/28/201414:04:53FBI Probes Possible Hacking Incident at J.P. Morgan -- 3rd Update
08/27/201417:46:19FBI Probes Possible Hacking Incident at J.P. Morgan -- 2nd Update
08/27/201417:45:00FBI Probes Possible Hacking Incident at J.P. Morgan
08/27/201417:44:58FBI Probes Possible Computer Hacking Incident at J.P. Morgan...
08/27/201417:41:47FBI Probes Possible Computer Hacking Incident at J.P. Morgan
08/26/201414:07:59Ann Taylor Parent Hires J.P. Morgan to Explore Potential Sale...
08/22/201415:03:25NeuStar Considering Possible Sale of Company -Reuters
08/19/201413:05:12Apax Looking to Sell Technology Provider TriZetto -Reuters
08/12/201420:39:13Banks Retreat From Market That Keeps Cash Flowing
08/06/201414:53:29Kellogg Considering Bid for United Biscuits -Sky News

Jp Morgan Chase and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad