J.P. Morgan’s Surprise
U.S. stocks are falling, driving the S&P 500
to its lowest level in a month after Intel
(
INTC |
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Chart |
News |
PowerRating) said sales and
capital spending would be less than expected this year and J.P. Morgan Chase
& Co
(
JPM |
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News |
PowerRating) surprised investors with a fourth-quarter loss. The loss
was due partly to Enron’s
bankruptcy and Argentina’s bond defaults and currency devaluation.
Chip equipment makers, including Applied Materials
(
AMAT |
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PowerRating), had the
biggest declines in the S&P 500 after Intel said capital spending will fall
for a second year. Financial service firms Citigroup
(
C |
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News |
PowerRating) and Bank of
America
(
BAC |
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Chart |
News |
PowerRating) also dropped in relation to the JP Morgan Chase news.
The DJIA
(
$INDU |
Quote |
Chart |
News |
PowerRating) is trading lower,
down 131.96 to 9792.19. The Nasdaq
(
$COMP |
Quote |
Chart |
News |
PowerRating) is down 38.36 to 1962.53,
and the S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating) is down 10.01 to 1136.18.
The March S&P 500
(
SPH2 |
Quote |
Chart |
News |
PowerRating) has
broken below its S1 (1140.67); the March Dow futures
(
DJH2 |
Quote |
Chart |
News |
PowerRating) have
broken below the S2 (9792); and the March Nasdaq
(
NDH2 |
Quote |
Chart |
News |
PowerRating) is below it
S1 (1599.67).
JDA Software Group
(
JDAS |
Quote |
Chart |
News |
PowerRating) has hit a
new 60-day
High on Double-Volume. JDAS is trading higher today with overhead resistance
at 30.00. JDAS has been as high as 28.26 today.
Rent-A-Center
(
RCII |
Quote |
Chart |
News |
PowerRating) broke out above
its resistance with strong volume yesterday. Today it continues to hold its
gains with adequate volume. RCII has overhead resistance at 40.
Stocks with Unusually High Volume
Harrah’s Entertainment
(
HET |
Quote |
Chart |
News |
PowerRating)
Alliance Gaming
(
ALLY |
Quote |
Chart |
News |
PowerRating)
Wells Fargo Bank
(
WFC |
Quote |
Chart |
News |
PowerRating)
CoinStar
(
CSTR |
Quote |
Chart |
News |
PowerRating)
Avon Products
(
AVP |
Quote |
Chart |
News |
PowerRating)
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