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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: CTSH, COST S&P 500 Movers: CTSH, COST
Friday, September 30, 10:41 AM ET
Nasdaq 100 Movers: CTSH, NXPI Nasdaq 100 Movers: CTSH, NXPI
Friday, September 30, 10:39 AM ET
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Dow Movers: GS, WMT Dow Movers: GS, WMT
Friday, September 30, 10:38 AM ET
Nasdaq 100 Movers: MYL, EBAY Nasdaq 100 Movers: MYL, EBAY
Thursday, September 29, 10:36 AM ET
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Dow Movers: MRK, CAT Dow Movers: MRK, CAT
Thursday, September 29, 10:34 AM ET
S&P 500 Movers: CHK, CAG S&P 500 Movers: CHK, CAG
Thursday, September 29, 10:32 AM ET
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S&P 500 Movers: PAYX, FCX S&P 500 Movers: PAYX, FCX
Wednesday, September 28, 10:51 AM ET
Nasdaq 100 Movers: PAYX, INCY Nasdaq 100 Movers: PAYX, INCY
Wednesday, September 28, 10:47 AM ET
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Dow Movers: MCD, CAT Dow Movers: MCD, CAT
Wednesday, September 28, 10:47 AM ET
Nasdaq 100 Movers: GILD, NCLH Nasdaq 100 Movers: GILD, NCLH
Tuesday, September 27, 10:22 AM ET
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S&P 500 Movers: CHK, LUV S&P 500 Movers: CHK, LUV
Tuesday, September 27, 10:16 AM ET
Dow Movers: UNH, IBM Dow Movers: UNH, IBM
Tuesday, September 27, 10:12 AM ET
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Nasdaq 100 Movers: NTES, WDC Nasdaq 100 Movers: NTES, WDC
Monday, September 26, 10:22 AM ET
S&P 500 Movers: MNK, RIG S&P 500 Movers: MNK, RIG
Monday, September 26, 10:16 AM 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 - 2016, All Rights Reserved

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