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Trading at Noon: JPMorgan's loss knocking financial stocks

Friday, May 11, 2012 - 03:08

JPMorgan's $2 billion trading loss knocking financial stocks across the globe today. Sentiment data offsets the downward trend.

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The. JPMorgan's two billion dollar trading losses knocking financial stocks across the globe today is also hurting their reputation. Of the biggest US bank by assets and it's CEO Jamie diamond. Thursday at a conference call and investors diamonds -- the losses could rise by up for that one billion dollars and all of this is because they've logged in Wales that's the nickname given by the Wall Street Journal a lot based trader. The -- an outside position which hedge funds that bet against. JPMorgan shares are currently trading down seven point 6% to. -- slowdown and job growth does. Me hitting consumer Thomson Reuters University of Michigan consumer sentiment reading from day. Reaching a four year high nearly twice as many consumers reported hearing about new job gains -- and they have heard about recent job losses. But Richard Curtin director at the top -- in Britain Michigan surveys of consumers -- the pictures on -- We've come to this level several times in store. Recovery began and we keep pulling back because of I'm very sluggish. Two on. The economic news giving a boost. Stocks right now the essence he is currently up by about a -- of -- percent Dow and NASDAQ also climbing higher lending ESP at this hour is the telecoms sector and the consumer discretionary sector financials -- -- by JPMorgan. The ten year -- up slightly -- mere one point 85%. Light sweet crude is down a bit at the moment. And gold volley of four month lows on worries over the financial help. Greece and Spain institutional investors liking FaceBook candidates side you know as far -- telling -- the offering is already oversubscribed. The company planned to raise about ten point six billion dollars by selling more than 337. Million shares at 28 to 35 dollars apiece. -- -- revised filing indicating it was having trouble ramping up mobile advertising but that apparently not serving as her. Now for stocks a lot let's start with Reuters -- correspondent Ed -- Korea policy was that a breakthrough last night and it gave I don't -- the company -- -- obesity drug. The drug could be in need to in the battle against the country's growing obesity problem. The shares -- much as 90% making the top rated stuff monastic. Find that gave movies -- on June 27. Yahoo! slightly lower as the Sox over the educational credentials of the company's CEO continues. CEO Scott Thompson told senior staff that. Never -- and resonate more incorrect information Yahoo!. Pictures of -- soaring after it posted quarterly revenue that beat lowered expectations. On strong demand for the latest graphics chips. -- stocks still below where was the authorities -- warning in February. I Rhonda schaffler this is Reuters.