Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

JPMorgan Chase & Co. (JPM): Dimon Is the Dow Jones Industrial Average (.DJI)’s Best Friend Today

Page 1 of 2

A second day of no economic news to speak of is taking its toll again on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI). Though the index was boosted early in trading, with gains topping out at 64 points, it has since fallen, waffling between gains and losses. Investors may be sending the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) mixed signals as they wait to hear Fed Reserve Chairman Ben Bernanke testify before Congress tomorrow. Luckily for the index, it’s got some support from within to push it higher.

Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI)

The Bernanke factor
During a lean week of economic news, it’s no wonder that Wall Street is waiting to hear what Bernanke says to Congress about the state of the economy. Speculation about the slowdown of the current stimulus policy is running rampant as more and more signs point to members of the Federal Open Market Committee being in favor of cutting back.

Though the recent FOMC meeting resulted in no changes to the current bond buyback policy, the meeting’s minutes and subsequent comments from members seem to be preparing investors for the inevitable slowdown — though no timeline has been provided. Since Bernanke is speaking with the Joint Economic Committee on the Hill tomorrow, the slightest hint of change may send the markets into a tizzy.

Inside the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI)

The Home Depot, Inc. (NYSE:HD) is up big this morning after reporting better-than-expected first-quarter earnings. Up 2.16% just after 11 a.m. EDT, the home improvement store said that its improved results are thanks to the rebounding housing market. Both revenue and earnings beat expectations, leading the retailer to increase its outlook for the remainder of the year. With a variety of housing market data coming out in the next two days, there may be bigger increases for The Home Depot, Inc. (NYSE:HD) if the positive trends of the market continue.
Travelers Companies Inc (NYSE:TRV) took a hit this morning following yesterday’s horrific tornado outside of Oklahoma City. The insurance company, along with many of its competitors, trended lower yesterday following the natural disaster. Since Travelers Companies Inc (NYSE:TRV) is one of the nation’s largest property and casualty insurance providers, the extent of the damage sustained yesterday may hurt second-quarter earnings. Rival American International Group Inc (NYSE:AIG) ranks higher in market share for P&C coverage, but both will have catastrophic losses to report in the coming weeks —
Page 1 of 2
Loading Comments...