Weekly Market Wrap Up, January 9-13, 2012

January 9 – 13, 2012
Submitted by: Charles Stack

As we close out the second week of 2012, the weight of the European debt crisis still looms over the U.S. stock market. The S&P 500, which experienced a consecutive four-day rise, declined half a percent to close at 1,289.09 while the Dow Jones Industrial Average slipped approximately 49 points to close at 12,422.06. Leading the losses in the U.S. market was the Financial sector: JPMorgan Chase and Co. reported a drop in profit while Bank of America and Citigroup Inc. both fell more than 2 percent. The fall in the overall world markets comes after news of Standard & Poor’s (who confirmed after the U.S. markets closed) that France’s credit rating would be cut from AAA to AA+. Along with France, other downgrades will include Austria, Italy, Slovakia, Malta, Cyprus, Portugal and Spain, and Slovenia. It was reported that Germany, Belgium, Estonia, Finland, Ireland, Luxembourg, and the Netherlands would not be cut.

 – Charles Stack


Article submitted by: Charles Stack of the Capital Markets Lab (CML). To learn more about the Capital Markets Lab (CML) please visit https://business.fiu.edu/capital-markets-lab/.

About Capital Markets Lab

The Capital Markets Lab (CML) provides students, faculty, and the South Florida community with unparalleled educational and technological resources relating to finance. By utilizing the most current financial research platforms available, students are given an opportunity to supplement academic theory with the real world analytical tools used by leading financial institutions. Visit us at http://business.fiu.edu/capital-markets-lab/.

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