Market Continues to Rally in Mid-Day Trading
The U.S. equity market is continuing to rally in mid-day trading, with all three major indexes currently in green. The Dow Jones is currently up 0.75% to 11,207.60, the S&P 500 is currently up 0.82% to 1,194.11 and the Nasdaq is currently up 0.97% to 2,529.07.
NYSE Euronext (NYSE: NYX) today reported its third-quarter financial results. The company reported a 2.3% increase in its third-quarter profit. The company reported a 20% increase in its total revenue from technology division to $113 million. Excluding one-time items, the company reported net profit of $121 million, or $0.46 per diluted share, compared with $138 million, or $0.53 per diluted share reported in the third quarter of 2009. Analysts were expecting the company to report earnings per share of $0.43. Shares of NYSE Euronext are currently down 2.33% to $29.72, touching an intra-day low of $29.63.
JP Morgan Chase & Company (NYSE: JPM) is being investigated by the Securities and Exchange Commission (SEC) in relation to a mortgage backed deal. The SEC is investigating whether JP Morgan allowed Magnetar Capital, a hedge fund, to select assets in a $1.1 billion CDOs deal backed by subprime mortgages. Earlier this year, SEC had filed a suit against Goldman Sachs (NYSE: GS) on similar charges. The deal called “Squared” was completed in May 2007. Magnetar Capital had purchased the riskiest slice of the CDOs as part of its strategy to bet against the mortgage market. Shares of JP Morgan are currently down 0.94% to $37.07, touching an intra-day low of $37.
