New York, NY, United States (AHN) – Stocks fell Friday morning on reports that several euro-region countries may face credit downgrades by Standard & Poor’s and of JP Morgan’s less than impressive earnings.

Just after 10 a.m. on Wall Street, the Dow Jones Industrial Average slumped 107 points, the Standard & Poor’s 500 fell 10 points and the NASDAQ dropped 17 points.

Weighing on stocks in the U.S. was an earnings report from bellwether JP Morgan that showed earnings inline with expectations, but revenues that fell short.

Also dragging stocks lower was a release that revealed the U.S. trade deficit widened more than forecast in November as Americans exports declined and companies stepped up imports of crude oil and automobiles.

Downgrades in the credit ratings of a number of European governments as early as Friday could come from Standard & Poor’s. The rumors sent overseas stocks down.

European markets across the board were lower in afternoon trading and Asian stocks ended mixed.

In commodities, oil dropped 72 cents to $98.25 a barrel and gold lost $6 to $1,640.40 a troy ounce.

U.S. stock markets will be closed Monday in observance of Martin Luther King Day.

View full post on Stocks Stories

New York, NY, United States (AHN) – Blue-chip stocks dipped on Monday pulled down by J.P. Morgan Chase’s downgrading of Wal-Mart Stores shares from overweight to neutral.

The Dow Jones Industrial Average lost 19 points or 0.2 percent to 12,254 as investors were also unresponsive to President Barack Obama’s announcement of a proposed $3.7 trillion budget.

The Standard & Poor’s 500 Index rose 2.54 points or barely 1 percent to 1,330.

The Nasdaq Composite Index rose 7.2 points or 0.3 percent to end at 2,817.

Oil for March delivery was up 14 cents settling at $85.72 a barrel.

Gold futures for April delivery jumped $6.60 to $1,367 an ounce.

View full post on All Stories