D&D Note (6-26-2012)
Traders remain tepid with the Supreme Court to hand down a ruling Thursday on the Health Care reform, otherwise known as Obamacare, along with the upcoming EU Summit later this week. All together there is still a great deal of uncertainty in the markets.
The major banks reversed after leading yesterdays sell-off. JPMorgan (JPM), Bank of America (BAC), and Morgan Stanley (MS) all closed up on the day. Both Citigroup (C ) and Goldman Sachs (GS) both finished lower on the day.
The big talk of the day was that Rupert Murdoch’s News Corp (NCR) might split into two companies. One with the FOX media properties and the other with the newspaper and book publishing properties. The stock jumped 8% on the day.
Facebook (FB) continued to rise after the company announced their first female board member in COO Sheryl Sandberg. Sandberg is the reason behind the monetization of Facebook and is seen as the number 2 person at the company behind Mr. Hoody and creator of Facebook Mark Zuckerberg.
The DOW (INDU) rose 32 points, the S&P 500 (SPX) finished up 6 points, and the Nasdaq (COMP) was up 18 points on the day.
Oil rose 14 cents to close at $79.35 a barrel.
Gold fell $13.50 to $1,574.90 an ounce.
The 10-Year Note fell pushing the yield up to 1.62%.
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