Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Markets Surge on Jobs Report

Following yesterday's lower-than-expected jobless-claims report and the announcement that the European Central Bank will hold interest rates at 0.5%, the markets were primed for a big run-up. Today's jobs report, where analysts had expected to see 145,000 new jobs created in April, came in better than expected at 165,000 additions, spurred the market's charge.

As of 12:50 p.m. EDT the Dow Jones Industrial Average (DJINDICES: ^DJI  ) is up 163 points, or 1.1%, while the S&P 500 and the Nasdaq have gained 1.2% and 1.3%, respectively. The Dow is now just a few points shy of the 15,000-point mark, while the S&P 500 has easily surpassed the milestone of 1,600. But even on a day when the markets are setting new records, we can still find a few individual companies moving lower.

Dow losers
Communications giant AT&T (NYSE: T  ) is down 0.5% today. The telecommunication industry is currently going through a number of changes, with T-Mobile and MetroPCS merging, Sprint possibly merging with either DISH Network or Japan's SoftBank, and former venture capitalist Tom Wheeler assuming the role of FCC chairman. Investors will likely grow nervous about what changes, if any, Wheeler may make to the industry's regulations. Uncertainty breeds fear in the markets, and fear turns the markets red.

Shares of JPMorgan Chase (NYSE: JPM  ) are down 0.5% as well, thanks to the announcement that the Federal Energy Regulatory Commission is investigating allegations that the bank manipulated the energy markets in California and Michigan. This is just another in a recent string of smudges on the reputation of the bank and it's CEO, Jamie Dimon, starting with the London Whale incident. Investors may be starting to fear that Jamie Dimon has lost control of the ship, and his once impeccable public image is starting to tarnish.

Shares of Pfizer (NYSE: PFE  ) are the biggest loser on the Dow today, down 1%. Over the past five days, shares are down 3.8%, mainly due to the poor quarterly results the company announced on Tuesday. For the first quarter, revenue fell 9% from the same period last year, while adjusted income fell 10%. The company saw a 21% decline in its primary-care business unit, while its oncology unit increased by 29%. The problem is that the 21% decline was actually an $859 million drop, while the 29% increase only amounted to an additional $84 million. 

More on JPMorgan
With big finance firms still trading at deep discounts to their historic norms, investors everywhere are wondering if this is the new normal or if finance stocks are a screaming buy today. The answer depends on the company, so to help you figure out whether JPMorgan is a buy today, check out The Motley Fool's premium research report on the company. Click here now for instant access!

Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2407275, ~/Articles/ArticleHandler.aspx, 9/25/2016 11:57:17 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 2 days ago Sponsored by:
DOW 18,261.45 -131.01 -0.71%
S&P 500 2,164.69 -12.49 -0.57%
NASD 5,305.75 -33.78 -0.63%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/23/2016 4:55 PM
^DJI $18261.45 Down -131.01 -0.71%
JPM $67.25 Down -0.14 -0.21%
JPMorgan Chase CAPS Rating: ****
PFE $34.26 Up +0.11 +0.32%
Pfizer CAPS Rating: ****
T $41.28 Up +0.17 +0.41%
AT and T CAPS Rating: ****