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'Whale' of loss hits futures

By: Decomposed in ROUND | Recommend this post (0)
Fri, 11 May 12 4:56 PM | 53 view(s)
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J.P. Morgan Chase shares down 7%
'Whale' of loss hits futures

May 11, 2012, 7:58 a.m. EDT

Stock futures sunk by ‘London Whale’
Bank stocks in focus as J.P. Morgan Chase falls 7% in premarket

By William L. Watts, MarketWatch

FRANKFURT (MarketWatch)—U.S. stock index futures pointed to a lower start for Wall Street on Friday, sunk by J.P. Morgan Chase & Co.’s revelation of a $2 billion trading loss attributed to a trader known as the “London Whale.”

Futures on the Dow Jones Industrial Average fell 55 points, or 0.4%, to 12,779.

S&P 500 Index futures /quotes/zigman/900181 SPM2 -0.82% dropped 6.3 points to 1,351.3, while Nasdaq 100 futures declined 4.5 points to 2,614.25.

Bank stocks were expected to be in focus.

More: http://www.marketwatch.com/story/stock-futures-sunk-by-london-whale-2012-05-11?dist=beforebell




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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months


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