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Closing Bell: Bank earnings and major biotech fail to win over oil and profit taking

Today was light on the economic front as far as impact numbers. The June leading economic indicators were down at -0.1%, and the May gain of +0.1% was revised lower to -0.2%. This shows little argument for a strengthening economy. Oil showed how it can still rise as tropical storm Dolly is in the Gulf of Mexico and no deal was reached with Iran, with prices back above $131.00 per barrel. Today was looking like a gain at the start, but the market slid as the day went on.

Below are today's unofficial closing bell index levels:

DJIA 11.467.67 (-28.90)
S&P 500 1259.72 (-0.96)
NASDAQ 2279.69 (-3.09)
10 YR T-NOTE 4.067% (-0.014%)
52-WEEK LOWS
Top Analyst Calls

Bank of America Corp. (NYSE: BAC) showed a more than 4.6% gain at $28.80 in today's final minutes after the earnings report this morning came in far above lowered expectations. This stock is now up over 50% in a few days.

Continue reading Closing Bell: Bank earnings and major biotech fail to win over oil and profit taking

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 12, 2012: 10:58 PM

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