LONDON (ShareCast) - - Cyprus deposit-tax proposal weighs on banks
- Some progress on deficit proposal
Dow Jones Industrials: -0.41%
Nasdaq Composite: -0.68%
S&P 500: -0.61%
The major US equity benchmarks have begun the day moderately lower following news, over the weekend, that Cyprus may impose a levy on bank deposits to help finance a rescue of the country´s banking system. Adding to the downbeat sentiment may be the somewhat inconclusive results of the latest attempts in Italy to form a viable government.
Shares of Bank of America (Other OTC: BACYL - news) , JP Morgan and Goldman Sachs (NYSE: GS-PB - news) are moving lower due to the news-flow surrounding Cyprus. The worry of some in the markets is that any such 'successful' rescue plan could create an incentive in European authorities´ minds to attempt a similar approach in larger economies - such as Spain or Italy - should those countries eventually need a similar degree of help as well. Or so at least some market commentary holds this afternoon.
Acting as a backdrop over the weekend some observers indicated that progress had been made on reaching a bi-partisan budget agreement.
Transocean (NYSE: RIG - news) shareholders have voted against a proposal by activist investor Carl Icahn in favour of a $4-a-share annual dividend.
Significantly, analysts at Morgan Stanley (Xetra: 885836 - news) have upgraded their view on Hewlett Packard (NYSE: HPQ - news) , while those at Citi have moved to a 'buy' recommendation on shares of Verizon Communications and United Technologies (NYSE: UTX - news) , from neutral before.
Front month West Texas crude futures are now registering a fall of 1.71% to the 91.85 dollar per barrel level on the NYMEX.
10 year US Treasury yields are now dropping by 5 basis points, to the 1.94%.
S&P 500 - Risers
J.C. Penney Co. Inc. (JCP (Taiwan OTC: 4747.TWO - news) ) $16.03 +3.59%
Constellation Brands Inc (NYSE: STZ - news) . Class A (STZ) $47.02 +2.78%
Intuitive Surgical Inc (NasdaqGS: ISRG - news) . (ISRG) $470.90 +2.50%
Newmont Mining Corp (NYSE: NEM - news) . (NEM) $40.52 +2.12%
Hewlett-Packard Co. (HPQ) $22.42 +1.08%
Sherwin-Williams Co. (SHW (Berlin: SW1.BE - news) ) $169.93 +0.74%
Humana Inc (NYSE: HUM - news) . (HUM) $70.15 +0.52%
Gap Inc (NYSE: GPS - news) . (GPS) $36.57 +0.49%
Kraft Foods Group, Inc. (KRFT) $50.49 +0.44%
Cabot Oil & Gas Corp. (COG) $67.30 +0.36%
S&P 500 - Fallers
Helmerich & Payne Inc (NYSE: HP - news) . (HP) $63.46 -4.23%
Juniper Networks Inc (NYSE: JNPR - news) . (JNPR) $19.45 -3.57%
Micron Technology Inc (NasdaqGS: MU - news) . (MU) $9.07 -3.15%
Borg Warner Inc. (BWA) $77.43 -2.92%
Morgan Stanley (MS) $22.92 -2.82%
MetLife Inc (NYSE: MET - news) . (MET) $39.19 -2.51%
Carnival Corp. (CCL) $34.10 -2.42%
Ford Motor Co (NYSE: F - news) . (F) $13.13 -2.38%
Nabors Industries Ltd (NYSE: NBR - news) . (NBR) $16.85 -2.26%
Citigroup Inc (NYSE: C - news) . (C) $46.20 -2.25%
Dow Jones I.A - Risers
Hewlett-Packard Co. (HPQ) $22.42 +1.08%
Verizon Communications Inc. (VZ) $48.19 +0.35%
Unitedhealth Group Inc. (UNH) $54.88 +0.27%
Travelers Company Inc. (TRV) $82.41 +0.16%
Wal-Mart Stores Inc. (WMT) $72.56 +0.08%
Dow Jones I.A - Fallers
JP Morgan Chase (Other OTC: JFTTL - news) & Co. (JPM) $49.10 -1.84%
Bank of America Corp. (BAC) $12.39 -1.43%
Boeing Co (NYSE: BA - news) . (BA) $85.28 -1.33%
Cisco Systems Inc (HKSE: 4333.HK - news) . (CSCO) $21.69 -1.07%
Walt Disney Co. (DIS) $57.08 -0.87%
E.I. du Pont de Nemours and Co. (DD) $49.49 -0.82%
AT&T Inc. (T) $36.15 -0.77%
General Electric Co. (GE) $23.28 -0.68%
Merck & Co. Inc (Xetra: A0YD8Q - news) . (MRK) $43.82 -0.61%
Intel Corp. (INTC) $21.25 -0.60%
Nasdaq 100 - Risers
Intuitive Surgical Inc. (ISRG) $470.90 +2.50%
Randgold Resources Ltd. Ads (GOLD) $83.90 +1.86%
Vodafone Group Plc ADS (VOD) $27.75 +0.36%
Apple Inc (NasdaqGS: AAPL - news) . (AAPL) $445.08 +0.32%
Dollar Tree Stores Inc. (DLTR) $44.29 +0.11%
Nasdaq 100 - Fallers
Micron Technology Inc. (MU) $9.07 -3.15%
Activision Blizzard Inc (NasdaqGS: ATVI - news) . (ATVI) $14.34 -2.12%
Sears Holdings Corp. (SHLD) $50.87 -1.83%
Baidu Inc (NasdaqGS: BIDU - news) . (BIDU) $83.60 -1.74%
Maxim Integrated Products Inc (NasdaqGS: MXIM - news) . (MXIM) $32.28 -1.74%
QUALCOMM Inc. (QCOM) $63.85 -1.73%
Alexion Pharmaceuticals Inc (NasdaqGS: ALXN - news) . (ALXN) $92.06 -1.71%
Citrix Systems Inc (NasdaqGS: CTXS - news) . (CTXS) $72.53 -1.71%
F5 Networks Inc (NasdaqGS: FFIV - news) . (FFIV) $89.36 -1.70%
Liberty Global Inc (NasdaqGS: LBTYA - news) . Series A (LBTYA) $68.00 -1.62%
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