Tag Archive: jp morgan chase

Unfortunately, the momentum from last week’s stock market rally did not carry over to this week. We start this week in the red after the stock market dives almost everywhere.  The dive comes after worries about Greece reemerges as people speculate that Greece will default. If they default, they will stop all payments to their lenders and stop making bond payments. It will hurt banks and it will send a shockwave throughout the Global Economy and we can most definitely look to seeing it in the US Markets.

I am hoping that this doesn’t happen because if it does, it’ll undo everything good that we have experienced last week (and perhaps more). The last thing we need right now is a country defaulting and sending stocks around the globe plummeting.

As for today, the Dow Jones dropped more than 108 points, sticking just over the 11,400 mark. The NASDAQ Composite dropped less than 10 points. You may think it’s not so bad, but it still dropped. The S&P 500 dropped almost 12 points while the NYSE dropped more than 113 points.

Today definitely was not a good day for the market, but we have seen worse. The markets were really down earlier today but the fact that it bounced back up a little shows that investors haven’t lost complete faith in Greece or the global economy. I believe that things will bounce back up. Like always, the market will fluctuate, there isn’t much that we can do, we can only try to predict but that’s harder than it sounds.

Out of the stocks hit hardest, the banking sector took a big hit today. Citigroup (C) dropped $1.28 per share or more than 4.4%. Bank of America (BAC) Dropped $0.24 or about 3.3%. JP Morgan Chase dropped more than 2.8% or $0.94 per share. The banking sector last week saw big gains and a lot of it has been undone in today’s fall. But not to worry, things will go back up as investors use this opportunity to buy low in order to sell high later in the future.

So What is Qwikster?

The Title asks the Question, what’s Qwikster?  Sounds like a service my Internet Service Provider provides that gives a speed boost. But no, it’s not that. Qwikster is Netflix’s (NFLX) new thing. Netflix earlier announced that they will be splitting up their service. Currently, you can stream movies over the internet and order DVDs by mail on the same plan. But now, you have to get them separately. If you only want DVD service, that’s when you go with Qwikster and if you want to stream your videos online, you sign up for Netflix.

Netflix Drops 7% on Monday September 19

by Yahoo! Finance

So how did this go for Netflix (NFLX) today? Not very well. The announcement sent Netflix stocks plummeting again. This time it dropped more than 7.3% or $11.44 per share today. It dropped another 1.77% or $2.55 per share in after hours trading. This drop sent Netflix dangerously close to its 52 week low of $140.02. Currently it’s price is $143.75 (not taking into account its drop after hours). This news will carry over into tomorrow and we can expect Netflix to see another drop in their stocks. They will most likely set a new 52 week low because investors are basically losing hope.

They have lost more than 50% of their market share in the past few months after announcing a change in pricing so what’s Netflix thinking?  They’ve lost about $8 billion after everything that has happened since their first announcement in July and it doesn’t look like they are done. I guess they are hoping people will adapt to their changes and come back to them in the future. I think they will get exactly what they want, but it will take some time. They have to allow people time to get  used to the changes.

Whatever happens, I still think that Netflix is a very strong stock and they will bounce back. As this stock which at one point was over $300 goes closer to $100, investors will look at this opportunity to buy low which should increase the stock prices. And as people get used to Netflix’s new prices and features and whatever Qwikster hopes to accomplish, I think they will start regaining subscribers and will still remain the top company in its field with ease.

Even if the stocks rallied today, Netflix would have gone down. And today wasn’t as bad as it could have been. I’m glad the losses were minimal and hopefully some good news comes out of Greece tomorrow. I know good news will send stocks rallying all over again and that’s exactly what we need in order to set aim for the 12,000 mark.

What are your thoughts on Netflix? What about Greece?

Stock Market Going Up and Down Today

by jscreationzs

Earlier today, it seemed as if the momentum of the stock market has stopped for a bit. The Dow Jones Industrial Average was as low as 11,429 today, more than a 100 points below its previous closing price of 11,539. Even with the big swings today, the Stock market finished at a positive with the Dow Jones gaining just 20 points, finishing at 11,559.

The NASDAQ Composite gained just 14 points, finishing off at 2,576. The S&P 500 gained less than 3 points finishing at 1,212. And the New York Stock Exchange (NYSE) finished at $7,462 with a gain of 13.7 points.

It was a fairly slow day in terms of gains for the overall stock market. Most of the banks in the banking sector went down in value including Citigroup (C), Huntington Bancshares Inc (HBAN), JP Morgan Chase (JPM), Bank of America (BAC), and Goldman Sachs Group (GS). They’ve all dropped, but not that much. The drop in the banking sector contributed to the very slow and small gains of the stock market today. The Volume of trades were also low throughout the stock market today. But it could be just the world slowing down for today. I believe that the next three days of trading will be better, well at least I hope it will be better.

After my report yesterday, Gold price was at a steady $1,786 an ounce. Today, it saw a bit of juice as the stock market was going up and down all day long. Currently, Gold is standing at $1,838 an ounce. It gained just over $52 an ounce since yesterday. Slow gains in the stock market usually means a decent gain in Gold. I’m sure gold would have been higher today if the stock market stayed in the red all day. And I am still sticking to what I said yesterday, I still believe the overall average price of Gold will continue to decrease over the next few months. The economy is still recovering and there has been talks of more economic stimuli to come our way which will most definitely help the economy grow a little faster.

Even with the volatile stock market today, we saw small gains. I am thankful that we saw gains. We need to keep the green streak going and keep the momentum up. A positive attitude about the growth of the economy and what we can do to stimulate it can go a long way. Today was a slow day, hopefully the rest of the week sees some more action and sees more green!

This is a followup post of the article from earlier today titled “Market Falls as Reports Come in of Lower Home Prices.”

Earlier today, it seemed that the momentum from yesterday would not carry over, that the rallying of the stock market was over. But today, it showed us that the stock market isn’t done. After my last article here, the Dow Jones rallied and finished with a gain of almost a 144 points totaling to 11,320. It’s getting closer and closer to the 12,000 mark, a mark we haven’t seen for some time.

The NASDAQ Composite increased just under 22 points, finishing at 2,467. The S&P 500 finished with a gain of 15 points at 1,177. And the New York Stock Exchange finished at 7,273 with a gain of 63 points.

Steep Gold Price Drop

Gold Price Drop by Yahoo! Finance

While the stock market rallied, the price of gold kept on dropping. Currently the price of gold is roughly $1,758, dropping an additional $26 from our last report here on Stocksicity. To the left you see a graph that shows you just how steep the drop has been for gold. And if the stock market’s momentum carries on to tomorrow once again, we could see the price of Gold keep dropping as investors start putting their money in stocks rather than Gold. As always, some investors could use this as an opportunity to buy gold for a discount compared to earlier this week. If I had the money to purchase large sums of gold, I personally wouldn’t. I believe that this is a bubble and once the market gets better (and I believe it will soon enough), the price of Gold will keep dropping and eventually get to a level we haven’t seen for several years.

The banking sector did pretty well today. Citigroup (C) showed an increase of more than 4% which Bank of America Corporation (BAC) saw a rise of almost 11%. JP Morgan Chase (JPM) saw an increase of just over 3%.

Apple’s stock originally rose $2.58 during the trading day. However, after the market closed, it was announced that CEO Steve Jobs has resigned from his post at Apple. He left his post to Chief Operating Officer Tim Cook. As a result of the news, Apple stocks plummeted more than 5%, or almost $20 per share,  in after hours trading. The news should sink in over night and the value of Apple should go back up to balance itself out over the next few days. But this requires Tim Cook to make a good presence at Apple. He has to show everyone that he is the right person for the job. I have no doubt that he is the right person for the job. For Apple’s sake, let’s hope that he can fill the shoes of Steve Jobs.

I am glad the market turned around in the afternoon. I would have hated to see the stock market do so well earlier in the week just to go through a steep drop the next day. I also hope that the stock market’s momentum carries onto tomorrow and the stocks rally again. We are still hopeful for what Bernanke has to say in his announcement on Friday. If it’s a good one, I think we’ll be seeing more greens in the stock market next week as well.