The Dow closed up +19.98 (+0.16%) at 12,855.04. The S&P 500 and Russell 2000 were also up, however the Nasdaq did not join them.
JPMorgan’s stock (JPM) fell nearly 7 percent to $38.05 in after-hours trading, dragging down shares across the entire banking sector. JPM’s executives called an extraordinary conference call with analysts at 5 p.m. EDT where Chief Executive Jamie Dimon said “egregious” mistakes had been made. It must be big when you use the term “egregious” in the same sentence with mistakes.
Cisco (CSCO) was the biggest drag on all three indexes, with shares tumbling more than 10%. Late Wednesday, the networking giant released a disappointing sales outlook for the current quarter.
The Dow had 11 of its components close lower today, led by CSCO (-10.49%), CAT, BAC, BA, IBM,, AA, MM, DD, AXP, MCD and MSFT.
DJIA winners were led by PFE (+1.69%), CVX, TRV, HD, T, GE, KO, MRK, HPQ, VZ and PG.
Disney held onto its gain today and closed very near its new 52 week high $45.59.
Current market leaders are the domestic housing market, aka Home Builders.
The dollar was down against the euro and British pound, but gained against the Japanese yen.
Oil for June delivery rose 27 cents to settle at $97.08 a barrel.
Gold futures for June delivery gained $1.30 to settle at $1,595.50 an ounce.
The price on the benchmark 10-year U.S. Treasury was down, pushing the yield up to 1.88% from 1.84% late Wednesday.
Tomorrow, before the open, notable stocks expected to report earnings include RTK, ALIM, SOL, TNP, GMAN, and CACH.