Stocks opened lower Thursday after reports indicated factory orders dropped and layoffs are rising, but the market quickly started bouncing back. The Dow was up 12.58 points at 8,604.27, the
S&P 500 was up 2.10 points at 872.84, and the
Nasdaq was up 1.67 points at 1,494.05. Bank stocks were mostly in the positive, climbing slowly.
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J.P. Morgan Chase & Co. is up after it seized tens of millions in collateral from
Guggenheim Partners LLC, after the bank funded to provide additional capital to meet margin calls.
Citigroup Inc. is in the green after reports that the bank's executives may wave their bonuses this year.
Morgan Stanley is up after selling $475 million of notes backed by the Federal Deposit Insurance Corp. That's on top of the $5.25 billion of debt it sold last week in a three-part deal backed by the FDIC. Capital One Financial Corp. is up after acquiring regional bank Chevy Chase Bank FSB. Meanwhile
Bank of America Corp. is down on reports that layoffs from its acquisition of Merrill Lynch & Co. could happen soon, and job cuts could total 30,000.
- Maria Woehr
Troubled Wall Street
Prices at 10:30am EST |
| Name |
Price at
open |
Price
at 10:30am |
Change |
Mkt cap |
| J.P. Morgan Chase & Co. |
29.84 |
31.31 |
1.06 |
116.86B |
| Merrill Lynch & Co. |
12.14 |
12.39 |
-0.04 |
19.82B |
| Goldman Sachs Group Inc. |
68.19 |
69.11 |
0.16 |
27.32B |
| Morgan Stanley |
13.34 |
14.17 |
0.32 |
15.04B |
| Citigroup Inc. |
7.61 |
7.97 |
0.15 |
43.43B |
| Fannie Mae |
0.91 |
0.89 |
0.05 |
957.82M |
| Freddie Mac |
0.9 |
0.88 |
0.06 |
569.50M |
| Bank of America Corp. |
14.74 |
14.83 |
-0.22 |
74.41B |
| Wachovia Corp. |
5.33 |
5.45 |
0.01 |
11.77B |
| Wells Fargo & Co. |
27.54 |
28.07 |
-0.03 |
93.33B |
| American International Group Inc. |
1.92 |
1.97 |
-0.04 |
5.29B |
| Sovereign Bancorp Inc. |
2.32 |
2.38 |
-0.05 |
1.58B |
| National City Corp. |
1.74 |
1.88 |
0.06 |
3.82B |
| Fifth Third Bancorp |
7.74 |
7.93 |
0.03 |
4.57B |
| Capital One Financial Corp. |
30.75 |
31.72 |
0.13 |
12.42B |
| SunTrust Banks Inc. |
27.8 |
30.32 |
1.68 |
10.73B |
| U.S. Bancorp |
27.17 |
28.11 |
0.20 |
49.32B |
| Regions Financial Corp. |
9.55 |
10.09 |
0.15 |
6.98B |
| KeyCorp |
7.74 |
8.47 |
0.29 |
4.19B |
| PNC Financial Services |
45.98 |
49.45 |
2.47 |
17.21B |
| BB&T Corp. |
26.9 |
28.46 |
0.86 |
15.72B |
| Bank of New York Mellon Corp. |
28.89 |
29.55 |
-0.04 |
33.91B |
| State Street Corp. |
36.55 |
38.73 |
2.13 |
16.72B |
Source: The Deal |
