You can try blaming Friday the 13th for today�s misery on Wall Street, but that wouldn�t be doing justice to the damage Monday and Tuesday also unleashed. So, despite some healthy rebounding on Wednesday and Thursday, the equity indices all suffered a losing week — the second in a row, and the worst weekly performance of 2012. Fingers were pointed at China�s 8.1% first-quarter GDP rate (versus 8.9% in the previous quarter), a drop in U.S. consumer confidence, more Euro-jitters — and flat-out fear, as the 10-year Treasury bond ended at exactly 2%.
On Friday, the Dow Jones Industrials tumbled 137 points, or 1.1%, closing at 12,850. The S&P 500 dropped 17 points, or 1.3%, closing at 1,370. And the Nasdaq gave up 44 points, or 1.5%, closing at 3,011. For the week, the Dow lost 1.5%, the S&P 1.9% and the Nasdaq 2.2%.
Unable to sustain their Thursday bounces were search giant Google (NASDAQ:GOOG) and financials JPMorgan Chase (NYSE:JPM) and Wells Fargo (NYSE:WFC). Google reported better-than-expected earnings (and a stock split that ensures its founding fathers keep a Beijing-like grip on the company) Thursday evening, as did both of the banks on Friday morning.
Still, GOOG shed 4%, or $26, on the day; JPM lost 3.6%, or $1.63; and WFC dropped 3.5%, or $1.18.
Financials overall got shellacked on Friday, most far worse than JPMorgan or Wells. Bank of America (NYSE:BAC) lost 5.23%, or 48 cents; Morgan Stanley (NYSE:MS) dropped 5%, or 91 cents; and Goldman Sachs (NYSE:GS) slid 4.5%, or $5.43 (could that CEO pay for Lloyd Blankfein have contributed?)
Three Up:- Chenier Energy (NYSE:LNG): Up 7.4% ($1.16) to $16.86.
- Coinstar (NASDAQ:CSTR): Up 7.3% ($4.47) to $65.78. (See why Coinstar�s recent roll is justified.)
- Brightcove (NASDAQ:BCOV): Up 4.9% (90 cents) to $19.31.
- Infosys (NASDAQ:INFY): Down 13.4% ($7.62) to $49.15.
- Sony (NYSE:SNE): Down 7.3% ($1.37) to $17.36.
- Ceasar�s Entertainment (NASDAQ:CZR): Down 7% ($1.09) to $14.55.
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