US Stocks Fall Amid Home Foreclosure Concerns

MARKET SNAPSHOT

	Overall market activity on the Jamaica Stock Exchange (JSE) today resulted in 12 stocks of which 8 advanced, 2 declined and 2 traded firm. The JSE Market Index advanced by 111.36 points (0.14%) to close at 82,708.28.
	Trading activity on the Trinidad & Tobago Stock Exchange (TTSE) today saw 7 stocks traded of which 1 advanced, 1 declined and 5 traded firm. The Composite Index advanced by 0.44 points (0.05%) to close at 810.37.
	US stocks fell, dragging benchmark indices down from five-month highs, as the shares of Banks plummeted amid concern over increased legal scrutiny of home foreclosure practices. The S&P 500 Index fell to 1,169.61 at 1:30 pm in New York. The Dow Jones Industrial Average (DJIA) dropped 44.5 points or 0.4% to 11,051.58.

STOCKS ON THE MOVE
LOCAL

• First Jamaica Investments Ltd (FJI) was the volume leader today with 20,825,896 units traded, accounting for 55.52% of market volume. The stock gained JMD 0.24 to close at JMD 36.25.
• Pan-Jamaican Investments Trust Ltd (PJAM) had the biggest dollar gain today, rising JMD 0.49 to close at JMD 47.00. A total of 11.28mm units traded.

REGIONAL

• The West Indian Tobacco Co Ltd (WCO) was the volume leader on the TTSE today with 12,341 units crossing the floor, valuing TTD 544,060.80. WCO was the sole stock to advance, gaining TTD 0.65 to close at TTD 44.15.

INTERNATIONAL

• Bank of America Corp (NYSE: BAC) and Wells Fargo & Co (NYSE: WFC) dropped 5.87% and 5.19% respectively at 3:20 pm in New York to lead financial Companies in the S&P 500 Index to a 2.3% decline, the biggest among 10 industry groups.
• Yahoo! Inc (NASDAQ: YHOO) gained 4.2% to USD 15.90 and EMC Corp (NYSE: EMC) rose 4.4% to USD 21.20 on reports they may be takeover targets.