Without green shoots, stocks post first weekly loss since May
Take this afternoon's announcement by JPMorgan Chase (JPM) that it will take a hit to its quarterly earnings of only $1.1 billion as it buys back the preferred shares it sold under the government's bank rescue program. That's less than a prominent bank analyst had predicted, sending its shares higher in the last hour of trading. Other financials followed suit, leading the Dow Jones industrial average up somewhat. Still, the Dow finished lower by 16 points, or 0.2 percent, at 8,540, for its first weekly loss in more than a month.
For more on stocks making moves today, be sure to check out BloggingStocks' market wrap-up.