US midday: JP Morgan counterparty warns of possibly higher losses

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^REURUSD1,738.01-5.77
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LONDON (ShareCast) - -Facebook weighs on prices of other social-media stocks -JP Morgan off 2% on worries over possible derivate losses Dow Jones Industrial: 0.72% Nasdaq Comp.: 1.87% S&P 500 (SNP: ^GSPC - news) : 1.11% The main equity indices are now bouncing even higher, on the back of 'market chatter' regarding possible new policy stimulus measures in China and Europe (Chicago Options: ^REURUSD - news) . Acting as a back-drop the most talked about subject is the fact that shares of Facebook are trading below their IPO price, and are now off by 10%, with analysts invariably talking of a 'bubble' in shares of the social media giant or of 'signals' of a market top. Other internet companies´ shares, such as those of Zynga or Linkedin, are being dragged down alongside it. No less relevant, Bloomberg is reporting that J.P.Morgan´s counterparty in some of its stressed derivatives trades believes the bank may face even greater losses should the Eurozone crisis worsen in the very short-term. Other stocks that are making some big moves are Yahoo (NasdaqGS: YHOO - news) and Lowe´s . The first of those is rallying by 6% after Alibaba agreed to re-purchase a stake in itself for $7.1bn. Stock in Lowe´s Cos., on the other hand, is plummeting 10% after the home improvement retailer whittled down its full-year net profit forecasts, to a range of $1.73 to $1.83 from $1.75 to $1.85 due to lower gross margins. UBS (NYSEArca: DJCI - news) has downgraded Avon Products (NYSE: AVP - news) to sell from neutral. The provider of kidney care services DaVita (NYSE: DVA - news) is to acquire HealthCare Partners for $4.42bn. Eaton (NYSE: ETN - news) has agreed to acquire electrical equipment supplier Cooper Industries in a roughly $11.8bn cash-and-stock transaction. More QE is a possibility The President of the Federal Reserve Bank of Atlanta (BSE: ATLANTA.BO - news) has gone on record as saying that the option of further quantitative easing should not be dismissed. The three-month moving average for the Chicago Federal Reserve bank´s national activity index fell to -0.06 in April, from 0.02 in the month before. Few changes in oil and bonds 10 year US Treasuries are now falling by 2/32 dollars with yields at 1.73%. Front month West Texas crude futures are now up by 0.94% to the $92.34/barrel mark in NYMEX trading. S&P 500 - Risers Cooper Industries Plc (CBE) $70.48 +26.22% Nabors Industries Ltd. (NBR) $13.95 +6.81% Monster Worldwide Inc (NYSE: MWW - news) . (MWW) $8.93 +5.68% Sears Holdings Corp (NasdaqGS: SHLD - news) . (SHLD) $55.19 +5.67% Davita Inc. (DVA) $85.11 +5.32% Chesapeake Energy Corp (NYSE: CHK - news) . (CHK) $15.12 +5.31% Textron Inc (Berlin: TXT.BE - news) . (TXT (Taiwan OTC: 4969.TWO - news) ) $23.41 +4.74% Advanced Micro Devices Inc (NYSE: AMD - news) . (AMD) $6.29 +4.66% Cliffs Natural Resources Inc. (CLF) $50.91 +4.56% Pitney Bowes Inc (Dusseldorf: 962890.DU - news) . (PBI) $13.53 +4.52% S&P 500 - Fallers Lowe's Companies Inc. (LOW) $25.76 -9.55% Campbell Soup Co (NYSE: CPB - news) . (CPB) $32.20 -3.59% Public Service Enterprise Group Inc. (PEG) $30.93 -2.37% Bank of America Corp (NYSE: IKJ - news) . (BAC) $6.87 -2.14% JP Morgan Chase & Co. (JPM) $32.79 -2.08% Avon Products Inc. (AVP (Other OTC: AVPI.PK - news) ) $16.64 -1.83% Exelon Corp (NYSE: EXC - news) . (EXC) $37.24 -1.72% Ross Stores Inc. (ROST) $59.71 -1.57% Interpublic Group (Dusseldorf: IPG.DU - news) of Companies Inc. (IPG) $10.59 -1.49% General Mills Inc. (GIS) $38.42 -1.37% Dow Jones I.A - Risers Boeing Co (NYSE: BA - news) . (BA) $71.43 +3.29% Caterpillar Inc (NYSE: CAT - news) . (CAT) $91.37 +3.03% Hewlett-Packard Co. (HPQ) $21.88 +1.96% American Express Co. (AXP) $56.27 +1.57% Microsoft Corp (NasdaqGS: MSFT - news) . (MSFT) $29.70 +1.49% E.I. du Pont de Nemours and Co. (DD) $48.60 +1.31% Alcoa Inc (NYSE: AA - news) . (AA) $8.54 +1.30% McDonald's Corp. (MCD) $90.82 +1.08% Cisco Systems Inc (NasdaqGS: CSCO - news) . (CSCO) $16.65 +1.06% Wal-Mart Stores Inc. (WMT) $62.96 +0.85% Dow Jones I.A - Fallers Bank of America Corp. (BAC) $6.87 -2.14% JP Morgan Chase & Co. (JPM) $32.79 -2.08% Merck (Xetra: A0YD8Q - news) & Co. Inc. (MRK) $37.61 -0.56% Verizon Communications Inc. (VZ) $41.35 -0.45% Procter & Gamble Co. (PG) $63.26 -0.41% Pfizer Inc. (PFE) $22.53 -0.18% Kraft Foods Inc. (KFT) $38.45 -0.10% AT&T Inc. (T) $33.63 -0.09% Nasdaq 100 (Nasdaq: ^NDX - news) - Risers Logitech International S.A. (LOGI) $11.29 +6.01% Sears Holdings Corp. (SHLD) $55.19 +5.67% Baidu Inc (NasdaqGS: BIDU - news) . (BIDU) $120.91 +4.81% Apple Inc (NasdaqGS: AAPL - news) . (AAPL) $551.90 +4.06% Research in Motion Ltd. (RIMM) $11.43 +4.00% Marvell Technology Group Ltd. (MRVL) $13.24 +3.80% Priceline.Com Inc. (PCLN) $655.00 +3.64% Seagate Technology Plc (STX (KSE: 011810.KS - news) ) $27.86 +3.55% Autodesk Inc (NasdaqGS: ADSK - news) . (ADSK) $31.32 +3.50% eBay Inc. (EBAY (NasdaqGS: EBAY - news) ) $39.67 +3.42% Nasdaq 100 - Fallers Ross Stores Inc. (ROST) $59.71 -1.57% Infosys Technologies Ltd. (INFY) $42.52 -0.82% Teva Pharmaceutical Industries Ltd. ADS (MCX: APDS.ME - news) (TEVA) $38.82 -0.21% AB