Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. The Dow Jones Industrial Average ( ^DJI) is trading up 52 points (+0.4%) at 13,627 as of Friday, Oct 5, 2012, 11:35 a.m. ET. During this time, 259.4 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 579.1 million. The NYSE advances/declines ratio sits at 2,153 issues advancing vs. 735 declining with 134 unchanged.
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The Dow component leading the way higher looks to be JPMorgan Chase (NYSE: JPM), which is sporting a 17-cent gain (+0.4%) bringing the stock to $41.99. This single gain is lifting the Dow Jones Industrial Average by 1.29 points or roughly accounting for 2.5% of the Dow's overall gain. Volume for JPMorgan Chase currently sits at 13 million shares traded vs. an average daily trading volume of 27.2 million shares. JPMorgan Chase has a market cap of $155.22 billion and is part of the financial sector and banking industry. Shares are up 22.9% year to date as of Thursday's close. The stock's dividend yield sits at 2.9%. JPMorgan Chase & Co., a financial holding company, provides various financial services worldwide. The company has a P/E ratio of 9.4, above the average banking industry P/E ratio of 9.2 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates JPMorgan Chase as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
Steve Ricchiuto, MZUHO Securities chief economist, and Bob Michele asset management global CIO with JP Morgan (JPM), joined BloomberTV's 'Bloomberg GO' to discuss the economy and the Fed raising rates.