The Dow Jones Industrial Average ( ^DJI) is trading up 25 points (+0.2%) at 15,485 as of Friday, Jul 12, 2013, 10:35 a.m. ET. During this time, 123.5 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 609.7 million. The NYSE advances/declines ratio sits at 1,288 issues advancing vs. 1,500 declining with 125 unchanged.
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The Dow component leading the way higher looks to be JPMorgan Chase (NYSE: JPM), which is sporting a 30-cent gain (+0.5%) bringing the stock to $55.44. This single gain is lifting the Dow Jones Industrial Average by 2.27 points or roughly accounting for 9.1% of the Dow's overall gain. Volume for JPMorgan Chase currently sits at 14.1 million shares traded vs. an average daily trading volume of 22.6 million shares. JPMorgan Chase has a market cap of $207.24 billion and is part of the financial sector and banking industry. Shares are up 24.7% year to date as of Thursday's close. The stock's dividend yield sits at 2.8%. JPMorgan Chase & Co., a financial holding company, provides various financial services worldwide. 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, impressive record of earnings per share growth, compelling growth in net income, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
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.