Financial stocks lead market lower $GOOG:xnas $TRV $AXP

Last Updated on Friday, 14 October 2011 09:49

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Financials led the market lower after less than impressive results from JP Morgan saw a sell off in the sector. However resilience seen in tech stocks saw the broader market stand firm against some of the losses
Financial and industrial stocks led the losses on the S&P500 with JPM’s weaker earnings pushing the sector lower. As a result the stock fell 4.82% to $31.60. Other majors to pullback were BAC, Citi and MS which fell 5.5%, 5.3% and 4.4% respectively
Other stocks to lead the moves on the Dow overnight were TRV, AXP and GE which fell 1.92%, 1.49% and 1.10% respectively
Tech stocks were higher led by Google which reported a 29% jump in net profit as revenue surged higher. The stock responded by surging 6.55%
European officials continue to move towards a viable solution to the continents debt woes after the Slovakian parliament agreed to the EFSF
Dow Jones -0.35% S&P500 -0.30% NASDAQ 0.60%
USD was weaker against the EUR on EFSF news, AUD rallied to 1.0191
Gold and Spot Crude were weaker overnight on softer Chinese data

Published by Spectrum Live Pty Ltd | www.spectrumlive.com

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