Friday, May 11, 2012

Stock Market "Not that bad" Despite JPM News

$JPM may be getting nuked by nearly 10%, but the rest of the market is holding up okay.  While it will be difficult for the overall index to move higher with financial stocks moving lower, there is some green on the screen this afternoon.

Stocks have retreated a bit after the surge higher (after the gap down), but tech seems okay today.  Tobacco seems okay today.  Telephones seem okay today.  Fast food... sodas...  Reits... 

Imagine the day it could have been without the $2B snafu from $JPM!

Stock market inches higher despite bank slump
AP BUSINESS | MAY 11, 2012

JPMorgan's surprise $2 billion trading loss prompted a sell-off in financial stocks Friday, but the broader market edged higher as investors decided ... Read more

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