JPMorgan, Procter & Gamble: Dow Movers
NEW YORK (TheStreet) -- U.S. stocks finished mixed on Wednesday as Wall Street digested the Federal Reserve's decision to extend its Operation Twist bond maturity extension program.
The Dow Jones Industrial Average fell 13 points, or 0.10%, to close at 12,824. The S&P 500 dropped 2 points, or 0.17%, to finish at 1356, and the Nasdaq Composite rose less than a point, or 0.02%, to close at 2930.
JPMorgan shares rose 3% after CNBC reported that the bank had sold 65% to 70% of its "London Whale" position that helped lead to its $2 billion loss.
Shares of P&G lost nearly 3 % after the Cincinnati-based consumer products giant lowered its fourth-quarter outlook, citing slower-than-anticipated sales growth in developed markets.
P&G anticipates fourth-quarter core earnings of between 75 to 79 cents a share. The company previously expected earnings of 79 to 85 cents a share. Analysts were looking for earnings of 82 cents a share.
The stock has fallen 9.47% so far in 2012.
--Written by Alexandra Zendrian in New York.
>To contact the writer of this article, click here: Alexandra Zendrian
>To submit a news tip, send an email to: firstname.lastname@example.org.
>To follow the writer on Twitter, go to Alexandra Zendrian.