Friday, July 16, 2010
Down Jones Industrial Average
At early morning most stocks are declining on the Dow Jones. Bank of America is down over 6%. BAC reported a profit of nearly 3 billion and stated that non performing loans declined as charge-offs of loans gone sour fell. Traders sent BAC lower on skepticism of their ability to execute in the future. General Electric reported a profit of over 3 billion. GE's top line growth fell from the previous year which is in focus today by the markets. The markets have sent GE shares spinning 3%. Alcoa is down another 1.3% today in trading news. There is a quiet whisper on Wall Street that Alcoa will be replaced in the Dow Jones. Pfizer is currently level on the day with a quiet whisper on their ability to develop new drugs. This has sent Merck tumbling .36% as a new push by Pfizer means declining sales for Merck.
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