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Wall Street Struggles as Debt Compromise Disappears

By  +Follow October 15, 2013 2:00PM
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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.

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Results for jcp
BreakingStocksNews
27 Mar 15 02:00:02
$APOL $JCP: Stocks Losing their Charm: Scientific Games Corp (NASDAQ:SGMS ...: http://t.co/ofRmk8WKXT
Penny Stockington
27 Mar 15 01:09:57
Our Penny Stock Alerts Have Gained Over 1000% So Far This Year! Big News: http://t.co/Mq9GADvqO5 $JCP $AQUM $WSGI
StockenheimerSchmidt
27 Mar 15 00:57:29
Our Penny Stock Pick On $THCZ Is Up 321.54% In Less Than 6 Weeks! This is Huge: http://t.co/WroUGtaeZF $JCP $AQUM $WSGI
Stockaholics
27 Mar 15 00:41:38
Our Winning Stock Tips Gained Over 680% In The Past 2 Months! Subscribe Today: http://t.co/lLjJU4COQW $JCP $AQUM $WSGI
Stock Dawgzz
27 Mar 15 00:24:49
Our Penny Stock Picks Have Gained Over 1485% In The Past 4 Months! MASSIVE Update: http://t.co/Nr8lmTigQP $JCP $AQUM $WSGI
Capital Market Labs
26 Mar 15 23:22:00
$JWN vs. $DG vs. $JCP vs. $DDS Compared Across 9 Critical Measures Chart: http://t.co/7fpW2e6QDa
Garage Traders
26 Mar 15 19:35:54
RT @RB_Scans: Lots of activity today in $INFN $HOT $STX $GMCR $JCP, be sure to follow up with the trades + OI...leveraging our DMS http://t…
RB Options Scans
26 Mar 15 19:34:41
Lots of activity today in $INFN $HOT $STX $GMCR $JCP, be sure to follow up with the trades + OI...leveraging our DMS http://t.co/gbbVSdKWHZ
Greg David
26 Mar 15 18:49:43
http://t.co/RMvVXnJDpv does trade alerts differently than anyone else. Its super cool. $OIBR $JCP $EAPH $BBEP $MNKD
Nicholas Yee
26 Mar 15 17:37:00
@BrattleStCap "tries not to gloat" on his $JCP sale! Are you kidding me?
Stockaholics
26 Mar 15 15:22:41
Our Penny Stock Alerts Gained 600% In 2 Months! Get Our Next Picks Early: http://t.co/tEvkQFqi7N $JCP $AQUM $WSGI
Stock Dawgzz
26 Mar 15 14:25:23
Our Penny Stock Newsletter Alert On $RCGP Gained 57% Mid-Day Today! Blog Update: http://t.co/Dk7CzkVjdH $JCP $AQUM $WSGI
dailystockplays.com
26 Mar 15 14:15:27
Below 50 SMA http://t.co/tfxNvzHmyG $VZ $NOK $JCP $TLT $SLB $OCN $GRPN $DISCA $GGP $KEG $XOMA $AGO $SONC $HL $ALSN $NWSA $PLD $LQD $ALL $BCS
Stock Rocket
26 Mar 15 14:01:22
$THCZ Has Become One Of The Hottest Penny Stocks Of The Year So Far! Check It Out: http://t.co/3wv3AMJ7Ni $JCP $AQUM $WSGI
Capital Market Labs
26 Mar 15 13:38:58
$SHLD, $JCP, $JWN, $M, $KSS Book Value Trend Comparison Chart: http://t.co/XHVtgO8Ijw
Uncle Omer
26 Mar 15 12:50:42
Nice chunk of retirement plan is based on $JCP bankruptcy. Accumulating 2017 Puts. Love the risk reward ratio! If I'm wrong, I lose little.
Penny Stockington
26 Mar 15 12:21:05
Our Penny Stock Pick On $THCZ Is Up 321.54% In Less Than 6 Weeks! Big News: http://t.co/PqlF5t9PRj $JCP $AQUM $WSGI
StockenheimerSchmidt
26 Mar 15 11:54:12
Our Penny Stock Picks Have Gained Over 1485% In The Past 4 Months! MASSIVE Update: http://t.co/Cu9lMFFRwA $JCP $AQUM $WSGI
Lisa Diaz
26 Mar 15 11:09:00
RT @TheDomino: Tks @FredRuffy for heads up on $JCP options volume...due to busted trades, total put volume so far today ~29K & NOT 79K (per…
Leni
26 Mar 15 10:43:20
Careful with shorts on $JCP Mind the inverse head shoulders See weekly head 12/8 bottom. Im long the stock full disclosure
Himanish Prabhakar
26 Mar 15 10:42:18
RT @TheDomino: Tks @FredRuffy for heads up on $JCP options volume...due to busted trades, total put volume so far today ~29K & NOT 79K (per…
TradeCNBC
26 Mar 15 10:40:56
Big Put Bets on $JCP from @TheDomino
Forex Update
26 Mar 15 10:40:15
RT @TheDomino: Tks @FredRuffy for heads up on $JCP options volume...due to busted trades, total put volume so far today ~29K & NOT 79K (per…
Dominic Chu
26 Mar 15 10:33:36
Tks @FredRuffy for heads up on $JCP options volume...due to busted trades, total put volume so far today ~29K & NOT 79K (per @thinkorswim)
Clayton Gilman
26 Mar 15 10:06:29
$JCP 2nd order filled 7.61
Ajit Singh
26 Mar 15 10:04:01
RT @TheDomino: Had to do double-take on @thinkorswim page, as JCPenney $JCP put options traded 78k contracts so far vs. 1,300 calls http://…
Whale Options UOA
26 Mar 15 10:02:00
$JCP Mar.27 7.50 Put flow
Reico Fund
26 Mar 15 09:59:35
Looks as though the future of $JCP is looking glum. 78 thousand puts being traded in comparison to 13 hundred calls! http://t.co/PM9MzDQVFo
Dominic Chu
26 Mar 15 09:58:13
@DGonsch @thinkorswim Yeah...so it's not just me, right? Lots of bearish bets trafficking in $JCP today
Schaeffer's Research
26 Mar 15 09:57:10
RT @TheDomino: Had to do double-take on @thinkorswim page, as JCPenney $JCP put options traded 78k contracts so far vs. 1,300 calls http://…
Dominic Chu
26 Mar 15 09:52:34
Had to do double-take on @thinkorswim page, as JCPenney $JCP put options traded 78k contracts so far vs. 1,300 calls http://t.co/A2ws7oXze2
benson
26 Mar 15 09:44:55
just when I thought u $JCP bitches grew some balls. guess not
Whale Options UOA
26 Mar 15 09:25:37
750 $JCP May.15 7.00 Puts BTO at$0.17
Clayton Gilman
26 Mar 15 09:20:57
$JCP fills @ 7.71
Bill Stoller
26 Mar 15 09:19:18
$RPAI, $DDR, DDR Corp. $KIM, Kimco Realty, $SHLD, $JCP, $SPG, $MAC, $GGP, $TCO, $ODP, $SPLS, $RAD, $BBY https://t.co/zr0DDZMQTE
Quantified Alpha
26 Mar 15 09:17:41
$JCP growth profile has been atrocious recently, with negative momentum & profitability http://t.co/Jbwn2fPI1i http://t.co/NTYb1piK8H
Trader News Daily
26 Mar 15 09:08:22
Wow http://t.co/PeRPkYu8Uk just posted last weeks results. +429%. Crazy. They offer a free trial too. $SD $JCP $FNMA $MCP $DRYS $ZNGA
Jann Gobble
26 Mar 15 09:06:22
$JCP News: Siiri Dougherty http://t.co/huTiTffBe4
Bill Stoller
26 Mar 15 08:56:00
Deutsche Bank Is Talking Troubled Retailers And #REIT Risk $SHLD $JCP $RPAI http://t.co/fpzqCwSb4w via @benzinga #Malls & Shopping Centers
Mark S Boone
26 Mar 15 08:54:28
$JCP Buying the hell out of this dip. Lovely gift. Gratzi! GLTA
Breaking News Now
26 Mar 15 08:50:02
$SHLD $JCP: Deutsche Bank Is Talking Troubled Retailers And REIT Risk: http://t.co/JpaWJBqsFd
Mark Trader
26 Mar 15 08:45:14
http://t.co/U0VrKn1h21 has the most reliable picks in the market. The move fast and never fail. $ARNA $BAC $JCP $PBR $TLM $MTG $F
Clayton Gilman
26 Mar 15 08:14:39
$JCP stopped out 7.86 -10
Penny Stock Secret
26 Mar 15 08:07:23
Gains Over 2500% In one Trade.. Subscribe Here! http://t.co/SVqoMkrw2z .. $JCP $AQUM $WSGI
Lightspeed
26 Mar 15 07:34:42
Call/Put Highest % volume changes: Calls: $INFN, $DG, $IDCC, $CNAT, $ARRY Puts: $JCP, $HEDJ, $TSN, $CRR, $EPI.
Seeking Alpha Alerts
26 Mar 15 07:01:12
@loutocco Subscribed to $JCP To add another, tweet: $SYMBOL @sa_alerts To unsubscribe: unsubscribe $SYMBOL @sa_alerts
Lou Tocco
26 Mar 15 07:00:41
$JCP @sa_alerts
Breaking News Now
26 Mar 15 06:35:06
$ZFGN $JCP: Big Movers: Zafgen (NASDAQ:ZFGN), J C Penney Company Inc ...: http://t.co/PLohksvZoD
Cabin Parker
26 Mar 15 06:18:01
$JCP Your ignorance is overwhelming! https://t.co/t4VZdM6ahw
Cabin Parker
26 Mar 15 06:14:16
$JCP Jummy Long..... This site is for sharing constructive ideas... Not for your crap! https://t.co/t4VZdMnL94
				
				
By  +Follow October 15, 2013 2:00PM
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