It was a bit of a yawner today for the Dow Jones Industrial Average
There was some stimulus news to report from Europe and China. The European Central Bank lowered its benchmark lending rate by 0.25% to 0.75%, and the Bank of England injected the British economy with another $78 million in an attempt to help jump-start the economy. China managed to catch many investors off guard when it cut some benchmark interest rates for the second time in just the past few weeks.
Investors didn’t seem terribly excited about any of these events as they look forward to tomorrow’s release of June’s U.S. jobs report. Here’s how all three indices fared on the day.
|Dow Jones Industrial Average||-47.15 [-0.36%]||12,896.67|
|S&P 500||-6.44 [-0.47%]||1,367.58|
Turning to individual stocks, the hits just keep coming for JPMorgan (NYSE: JPM). The bank, still dealing with the fallout of its multi-billion dollar trading losses announced in May, was dealt another blow today, when it was subpoenaed by U.S. energy regulators to produce 25 emails that are associated with a probe which focuses on, "JPMorgan bidding practices that may have been designed to manipulate the California and Midwest electricity markets," the Federal Energy Regulatory Commission said in the subpoena. JPMorgan stock dropped over 4%, while Bank of America’s
Looking outside the Dow, Netflix
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Brendan Byrnes owns no shares of any company mentioned above. The Motley Fool owns shares of Bank of America Corporation Com, McDonald's Corporation S, JP Morgan Chase, and Netflix. Motley Fool newsletter serviceshave recommended buying shares of McDonald's Corporation S and Netflix. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.