Greek Uncertainty Sends Markets Down for the Day (GRPN, JPM)
PUBLISHED ON: May 15, 2012
Major indices fell today, as the Greek government continued to fail to form a governing coalition. There was positive news in housing, however, as new data from the National Association of Home Builders came out indicating that market confidence was up. In corporate news, Treasury Secretary Timothy Geithner stated that regulators would be looking into JPMorgans' (JPM) catastrophic $2 billion loss. Meanwhile, Groupon (GRPN) saw its stock soar to enormous heights today after their phenomenal Q1 results.
Word on the Street
- Greece's ongoing failure to create a coalition government sent stocks down today.
- Regulators are honing in on JPMorgan (JPM).
- Social security earnings and benefits are now available to view online.
- There is some positive news in housing data.
- Groupon (GRPN) shares were up as much as 27 percent at times today.
- The craze around the Facebook IPO continues to grow.
Posted in ...Daily Market Commentary