Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link. The Dow Jones Industrial Average ( ^DJI) is trading down 185.0 points (-1.1%) at 16,252 as of Thursday, Apr 10, 2014, 1:36 p.m. ET. During this time, 240.9 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 425.1 million. The NYSE advances/declines ratio sits at 794 issues advancing vs. 2,203 declining with 139 unchanged.
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Holding back the Dow today is JPMorgan Chase (NYSE: JPM), which is lagging the broader Dow index with a $1.74 decline (-2.9%) bringing the stock to $57.52. This single loss is lowering the Dow Jones Industrial Average by 13.17 points or roughly accounting for 7.1% of the Dow's overall loss. Volume for JPMorgan Chase currently sits at 15.5 million shares traded vs. an average daily trading volume of 19.8 million shares. JPMorgan Chase has a market cap of $222.85 billion and is part of the financial sector and banking industry. Shares are up 1.4% year-to-date as of Wednesday's close. The stock's dividend yield sits at 2.6%. JPMorgan Chase & Co., a financial holding company, provides various financial services worldwide. The company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Management. 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, expanding profit margins and attractive valuation levels. 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.