JP Morgan Must Pay $13 Billion; Stocks End Down

After the Dow Jones was trading above 16,000 yesterday, the three main indexes ended the day in the red. Janet Yellen, the nominee for chair of the Federal Reserve, stated that one of her top priorities is to resolve the issue that banks are "too big to fail". While this is a big task to take on, many feel that if she can solve this problem she is doing a big service to many. Home Depot, (HD) the nation's largest home-improvement retailer revealed their revenue has increased 7% throughout the past year. These numbers help show that there is continual growth and improvement in the housing market.
The Department of Justice and JP Morgan came to the agreement that JP Morgan will pay a settlement of $13 billion for their part in failed mortgage investments that played a part in triggering the 2008 financial crisis. Cost of benefits for employees rose 0.4% last quarter, up 1.9% over the past 12 months. Walmart's (WMT) low wages are getting national attention once again after donation bins have been found in an Ohio store asking for food donations for "Associates in Need" so they can celebrate Thanksgiving.

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Published on Nov 19, 2013
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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