logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

Wall Street Struggles as Debt Compromise Disappears

By  +Follow October 15, 2013 2:00PM
Share:
Tickers Mentioned:

With the government shutdown embarking on its third week and a possible debt default only two days away, stocks dropped on Tuesday in reaction to what is by all appearances a chaotic situation in Washington D.C.

The previous day’s optimism over a deal between President Obama and Congress that would at the very least avert a default on US debt until the beggining of next year had dissipated by midday as Republicans in the House of Representatives offered their own plan to counter on the one that was being worked out by the Senate. Both House and Senate proposals would lack the devastating cuts to “Obamacare” and other government spending that has become a selling point for far-right Republican politicians over the past years, but still seeks to force concessions that the White House and the Senate are almost certain to reject.

The wrangling and general atmosphere of calamity flowing out of Capitol Hill found its way onto Wall Street, with the Standard & Poor’s 500 index dropping 0.71 percent to 1,698.06 points, while the Dow Jones Industrial Average fell 0.87 percent to close at 15,168.01, and the NASDAQ was off 0.56 percent for a tally of 3,794.01.

On the S&P 500, J.C. Penney Company (JCP) took yet another hit, with shares losing nearly 9 percent by the end of trading in response to rumors that the company had hired a bankruptcy counselor, rumors that the company denied outright. Overall, the index’s biggest losers were tech shares, with substantial losses taken by hardware companies such as Teradata Corporation (TDC) , F5 Networks Inc. (FFIV) , and Eaton Corporation (ETN) .

United States Steel Corp. (X) was a bright spot, gaining over 5 percent on the day.

The Dow saw all but two of its components lower on the day, with The Home Depot Inc. (HD) leading the way down, followed by Procter & Gamble Co. (PG) . Microsoft Corporation (MSFT) and healthcare giant Johnson & Johnson (JNJ) managed to edge their way into the green.

On the NASDAQ, shares for Savient Pharmaceuticals (SVNT) dropped off the cliff, losing nearly 90 percent to finish at $0.07 each after news emerged that the specialty drug manufacturer was filing for chapter 11 bankruptcy.

Otherwise, the exchange was weighed by tech shares, with Applied Materials Inc. (AMAT) and Yahoo! Inc. (YHOO) dropping on heavy trading, even though Apple Inc. (AAPL) added about half of a percent to close higher on news that the company had hired former Burberry ($BURBY) CEO Angela Ahrendts to the newly created position of senior vice president.

Results for jcp
PsychSignal
16 Apr 14 09:02:18
1100.0% increased bullish conversations in $JCP in the past 3 hours.
S. S.
16 Apr 14 08:59:14
Commented on StockTwits: I for one do not believe in the company, I think it can get much worse $JCP http://t.co/v6E4PvaWEG
Nick Cottone
16 Apr 14 08:42:14
Watch @LIZJNYshow live today at 11:15amCT. We're looking @ earnings plays in $CMG & rolling my short put in $JCP. http://t.co/MdYhEsSiMS
S. S.
16 Apr 14 08:27:24
$JCP This is what this stock is worth
Mendy Feliciano
16 Apr 14 08:22:11
$MU Looking for the next $JCP $KEY $QLYS Try this http://t.co/IRiiBapKpM
Ackmanscam
16 Apr 14 08:15:52
Commented on: "Ackman Will Lose: Regulatory Action Is A Low-Probability Event" http://t.co/xWCI7NzojG $HLF $JCP $MBI $TGT
Sasha Cekerevac
16 Apr 14 08:08:11
No buyers stepping in at all for weak stocks like $JCP and $BBRY
Gavin Dangerson
16 Apr 14 08:06:14
Wanna make money? Help us help you. http://t.co/rASt70A77w Free To Try. Easy to Buy. $aapl $bbry $jcp $googl $tsla $scty $ddd $gmcr
Equity Sense
16 Apr 14 08:06:14
Wanna make money? Help us help you. http://t.co/wsEA3yHeKP Free To Try. Easy to Buy. $aapl $bbry $jcp $googl $tsla $scty $ddd $gmcr
Mike L
16 Apr 14 08:06:14
Wanna make money? Help us help you. http://t.co/dAFNMANbVn Free To Try. Easy to Buy. $aapl $bbry $jcp $googl $tsla $scty $ddd $gmcr
Mark S Boone
16 Apr 14 08:02:28
$JCP That 9 defender must have reloaded his short. Vicious son of .....!
Redmond Green
16 Apr 14 07:50:21
Are you considering buying $GPC $JCP $ATVI $USD I suggest http://t.co/gZWCXS2NbN
Crew Gretzky
16 Apr 14 07:27:01
$JBHT Should you buy $JCP $THG $SPY Visit http://t.co/nzn9MX9oss
Mark S Boone
16 Apr 14 07:11:31
$JCP One more white candle and this is heading higher. JMO. GLTA
Arian Husher
16 Apr 14 07:11:19
Awesome #Stock #Research $JCP $DOW $CPWR $GLD Goto http://t.co/QQZqwtM61u
Franco Gall
16 Apr 14 07:08:49
Considering investing in $MSG $JAH $JCP $IR Give it a try http://t.co/7UpvKZsqZ1
Jean Bryant
16 Apr 14 07:03:51
Get the latest on $JCP $PLD $BSX $S #wealthmanagement http://t.co/Ffoe9dArFM
Seeking Alpha
16 Apr 14 07:00:05
Lifetime Brands: A Mundane Company, With Exciting Profit Potential http://t.co/exFdmKo8u7 $JCP $LCUT
Miller Bailey
16 Apr 14 06:59:38
Get Free research on $CNX $JCP $AES $ABX Check out http://t.co/a40YhtDBEU
GavinGreenberg
16 Apr 14 06:55:35
$JCP: Why Your Easter Will Be More Expensive This Year http://t.co/dVVfhs4aXT
Sqwii
16 Apr 14 06:52:10
$JCP bouncing from lows
CABuyer
16 Apr 14 06:43:35
$JCP: Why Your Easter Will Be More Expensive This Year http://t.co/U9ru1orYSi
Alfredo Gilham
16 Apr 14 06:42:16
$JCP Why Your Easter Will Be More Expensive This Year http://t.co/TKiNd1XRcE
GavinGreenberg
16 Apr 14 06:39:15
$JCP: Why Your Easter Will Be More Expensive This Year http://t.co/kId72ZTLfN
Alfredo Gilham
16 Apr 14 06:36:12
$JCP Why Retail? Why J.C. Penney? http://t.co/7dWbcTwiwt
Nick Landano
16 Apr 14 06:31:12
$JCP up 2% and $BP up 1% on open.
Lilly Bynum
16 Apr 14 06:28:49
Find out the latest on $JCP $SCCO $MFA $SSO #financialnews http://t.co/zZ7N7OnRSx
Nick Landano
16 Apr 14 06:28:49
Dow futures up 77 points 2 minutes before open! Hopefully we see a green day ahead. $JCP $TWTR $FB
North Carter
16 Apr 14 06:28:11
Are you looking to buy $JCP $ADS $WTR $FB #overvalued http://t.co/sUxu5TzLIw
StockNews24
16 Apr 14 06:21:27
$JCP - Why Your Easter Will Be More Expensive This Year -> http://t.co/dQbWQrlOsj #stock #stocks #stockaction
raymond zeena
16 Apr 14 05:53:40
BULLISH $JCP http://t.co/02aa0jfiwL
raymond zeena
16 Apr 14 05:52:56
$JCP http://t.co/K9icppsLl4
Quantpost Service
16 Apr 14 05:46:28
$JCP News Alert: http://t.co/7i2m1cXQGk Updated options view: https://t.co/co4gDTUbcd All options views: https://t.co/hOBOoKUxHS
Seeking Alpha
16 Apr 14 05:46:27
Why Retail? Why J.C. Penney? http://t.co/zi1h5KPXwC $JCP
Travis Howard
16 Apr 14 05:35:04
Market Movers $VXX $KO $FXI $YHOO $PBR $C $ZNGA $VALE $JCP $TWTR $WAVX $AMD $TSM $XLE $EFA $VZ $SDS $CMCSA $INO $ALU http://t.co/3h46FHJaLA
Laci Jack
16 Apr 14 05:13:19
$ENH Some Stocks to Watch $JCP $EGN $SPY Visit http://t.co/XYv3IT4UCm
Brecken Kingston
16 Apr 14 04:25:38
Top Performing #Stocks today $JCP $NSC $IPG $AIG #singedinvestor http://t.co/p52oEgmeII
Alfredo Gilham
16 Apr 14 03:56:06
$JCP J.C. Penney Down 20% in the Past Week http://t.co/k4efVdg8gg
Alfredo Gilham
16 Apr 14 03:50:05
$JCP N.Y. court advances lawsuit against Martha Stewart Living on pet products http://t.co/2IbxXsmXKf
Alfredo Gilham
16 Apr 14 03:45:04
$JCP J.C. Penney: Sometimes The Market Gives You A Gift To Buy http://t.co/CWCQihd6gl
GavinGreenberg
16 Apr 14 03:30:38
$JCP: Lifetime Brands: A Mundane Company, With Exciting Profit Potential http://t.co/HmLhFTxKts
Alfredo Gilham
16 Apr 14 03:21:34
$JCP Market News: Coke, Johnson & Johnson, J.C. Penney Company, Inc. http://t.co/7u94RKYLKF
raymond zeena
16 Apr 14 03:15:04
Best Turnaround Play: J.C. Penney, Best Buy, or Rite Aid?: $JCP $RAD $SPLS http://t.co/gVP12C53RQ via @themotleyfool
raymond zeena
16 Apr 14 03:12:41
Three retail stocks with upside potential $JCP http://t.co/JJ9dSd1TEb via @TheStreet
Horacio Campbell
16 Apr 14 02:47:47
Latest Earnings info on $CTL $JCP $VOYA $S View now http://t.co/UI36cncwN7
Alfredo Gilham
16 Apr 14 02:46:07
$JCP Lifetime Brands: A Mundane Company, With Exciting Profit Potential http://t.co/fK1Z81YcvX
Clinton Majors
16 Apr 14 02:38:53
$DFS Are you hanging on to $JCP $ESV $USD Must see http://t.co/qHGzCBExPn
Stock Herald
16 Apr 14 02:34:35
$JCP: Lifetime Brands: A Mundane Company, With Exciting Profit Potential http://t.co/5rgUvz0U42
Lonnie Bigelow
16 Apr 14 02:30:26
$JCP N.Y. court advances lawsuit against Martha S http://t.co/rnbiGF8d8k
StockNews24
16 Apr 14 02:21:41
$JCP - Lifetime Brands: A Mundane Company, With Exciting Profit Potential -> http://t.co/OVOugLkBxT #stock #stocks #stockaction
				
				
By  +Follow October 15, 2013 2:00PM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.