The Dow's Down Streak Continues
Everyone's blaming continuing problems in Europe for today's big drop in the Dow Jones Industrials (INDEX: ^DJI) , which were down more than 150 points just before 10:45 a.m. EDT. European markets were down around 1% as they entered their final hours of trading for the day, and both gold and oil saw further declines as well, as the risk-off trade has apparently taken hold. Only bonds managed gains, with the 10-year Treasury yield (INDEX: ^TNX) falling to just above 1.8%.
One of the only bright spots in the Dow today was Disney (NYS: DIS) , which rose more than 1% after a strong earnings report. Despite the failure of its John Carter movie, strength in its network holdings and record results from TheAvengers -- the latest release from the company's pickup of Marvel Studios in 2009 -- helped boost the company's prospects and bode well for its future.
JPMorgan Chase (NYS: JPM) was a big loser, falling nearly 3%. The company said that it intends to sell prepaid debit cards in its branches beginning this summer, as the bank tries to navigate fee regulations on traditional debit cards while maintaining its profits. JPMorgan Chase notes that some customers will pay less with a prepaid card than they do for checking accounts with minimum-balance charges and overdraft fees. Nevertheless, critics see the move as part of a larger trend toward boosting fee income.
Finally, Bank of America (NYS: BAC) was down less than 1% as protesters demonstrated outside the company's annual shareholder meeting in Charlotte. On the agenda is a vote on pay for CEO Brian Moynihan. The protest is the latest in a series of demonstrations targeting big banks.
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At the time this article was published Fool contributor Dan Caplinger doesn't own shares of the companies mentioned. You can follow him on Twitter here. The Motley Fool owns shares of Disney, JPMorgan Chase, and Bank of America. Motley Fool newsletter services have recommended buying shares of Disney. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Fool has a disclosure policy.
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