By
Austin Smith
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More Articles
January 30, 2012
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Despite a strong push throughout the day, the major indices closed lower at the end:
|
Index
|
Gain / Loss
|
Gain / Loss %
|
Ending Value
|
| Dow Jones Industrial Average (INDEX: ^DJI ) |
-6.74 |
-.05% |
12,653 |
| Nasdaq (INDEX: ^IXIC ) |
-4.61 |
-.16% |
2,812 |
| S&P 500 |
-3.32 |
-.25% |
1,313 |
The anchors
Here's a look at those companies which weighed most heavily on the index today.
- Bank of America (NYSE: BAC ) was the market dunce today, closing down over 3%. Goldman Sachs lowered its rating on the banking giant from buy to neutral. Also, continued Greek debt fears stoked the coals that threaten to torch the broader banking sector. Despite this, though, the banking titan is still the best performing Dow stock for 2012.
- Procter & Gamble (NYSE: PG ) was the second-worst Dow stock today, giving up 1.7% to the market. The company had disappointing earnings recently, despite beating second-quarter expectations. The consumer-goods giant lowered its forecasts on high commodity costs and a strong dollar. This will certainly curtail the profitability of their international operations.
- American Express Company (NYSE: AXP ) also fell on Greek debt talk worries. The company actually reported positive earnings two weeks ago. The other major credit-card company on the Dow, MasterCard, reports earnings on Thursday. Look for MasterCard's release to move other credit card companies like American Express for the day.
Foolish bottom line
The Greek debt situation is moving the Dow today, and with it being earnings season, there are plenty of companies out there that investors need to watch, since they could move the Dow. In the Fool's "Fourth-Quarter Earnings Report: 7 Stocks You'll Want to Watch," you'll find information on this quarter's possible big performers. It's completely free for our readers, so click here to access yours today.
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