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Daily Market Wrap: May 14, 2012
Monday, May 14, 4:40 PM ET

Stocks rallying off earlier losses as Greek leaders set a meeting for tomorrow in an effort to prevent a possible exit from the Euro. Traders say that meeting is supposed to take place at 7am New York time on Tuesday. Uncertainty surrounding the effects of that country's withdrawal from the Euro sent the major averages sharply lower at the open.

Among big losers on the Dow - JP Morgan (NYSE:JPM). Those shares continue to fall after the bank's $2 billion dollar trading loss announced last week. Today the firm's chief investment officer Ina Drew announced her retirement.

One bright spot in the Dow -Cisco Systems (NASDAQ:CSCO) rising 1-3/4% after losing almost 14% of its value last week on lower than expected earnings guidance.

Heading into the last hour of trading, all three major indexes were down around half a percent.

In addition to news out of Greece early tomorrow morning investors will have plenty of economic data to sort out, starting with the consumer price index and retail sales. A little later in the morning we'll take a look at business inventories and the housing market index.

For Marketnewsvideo.com, I'm Kristin Bianco.

Daily Market Wrap: May 14, 2012 picture
S&P 500 Movers: HAS, RHT S&P 500 Movers: HAS, RHT
Friday, December 19, 1:21 PM ET
Nasdaq 100 Movers: XLNX, WYNN Nasdaq 100 Movers: XLNX, WYNN
Friday, December 19, 1:19 PM ET
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Dow Movers: NKE, DD Dow Movers: NKE, DD
Friday, December 19, 12:49 PM ET
S&P 500 Movers: CAG, ORCL S&P 500 Movers: CAG, ORCL
Thursday, December 18, 12:48 PM ET
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Nasdaq 100 Movers: BBBY, VIP Nasdaq 100 Movers: BBBY, VIP
Thursday, December 18, 12:48 PM ET
Dow Movers: PG, GS Dow Movers: PG, GS
Thursday, December 18, 12:46 PM ET
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S&P 500 Movers: XL, DO S&P 500 Movers: XL, DO
Wednesday, December 17, 12:45 PM ET
Nasdaq 100 Movers: EXPD, VIP Nasdaq 100 Movers: EXPD, VIP
Wednesday, December 17, 12:45 PM ET
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Dow Movers: CAT, XOM Dow Movers: CAT, XOM
Wednesday, December 17, 12:44 PM ET
S&P 500 Movers: MHK, RRC S&P 500 Movers: MHK, RRC
Tuesday, December 16, 12:57 PM ET
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Nasdaq 100 Movers: VIP, MNST Nasdaq 100 Movers: VIP, MNST
Tuesday, December 16, 12:56 PM ET
Dow Movers: MSFT, BA Dow Movers: MSFT, BA
Tuesday, December 16, 12:50 PM ET
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S&P 500 Movers: F, PETM S&P 500 Movers: F, PETM
Monday, December 15, 1:01 PM ET
Nasdaq 100 Movers: VIP, EXPD Nasdaq 100 Movers: VIP, EXPD
Monday, December 15, 1:00 PM ET
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Daily Market Wrap: May 14, 2012  NOW PLAYING
Daily Market Wrap: May 14, 2012
Monday, May 14, 4:40 PM ET
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Daily Market Wrap: May 14, 2012 | Market News Video | Copyright © 2008 - 2014, All Rights Reserved

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