FX.co ★ The US stock market review

The US trading session closed with the stock indices decline, despite that Intel and J.P. Morgan Chase profit was higher than analysts’ expectations. J.P. Morgan low income put pressure on the financial market. Dow Jones Industrial Average index fell by 100.90 points or by 0.94% to 10609.65 points. Nasdaq Composite dropped by 28.75 points or by 1.24% to 2287.99 points. Standard & Poor\'s 500 moved down by 12.43 points or by 1.08% to 1136.03 points.
The falling leaders became shares of Bank of America, which went down in value by 0.56 USD or by 3.3% to 16.26 USD. J.P. Morgan report for Q4, which profit rose in four times, but the income was lower than economists’ forecasts, caused the decrease. The Bank also sustained losses in such fields as credit cards, consumer credit and retail banking. J.P. Morgan shares tumbled by 1.01 USD or by 2.3% to 43.68 USD.
Intel shares ticked down by 0.68 USD or by 3.2% to 20.80 USD. Quarterly profit of the company increased almost in ten times, and gross margin reached the record mark. However, investors are afraid of that the company shares value is close to the highest level after the most profitable quarter ending in Intel’s history.

Best regards,

analyst V. Donin