Stocks have come up off their lows in late morning trading, but are still lower on the day. China’s economic outlook is keeping investors at bay today. Bank of America (NYSE:BAC) is rallying this morning in an unusual move against the market after the bank said it has no intention of introducing additional equity in a secondary offering, contrary to recent rumors. BAC shares are currently up 4.51% at $9.96.
Approaching midday, the Dow is down about 70 points, the Nasdaq is down 18 points and the S&P 500 is down 6 points.
NYSE Stocks to Watch
Tiffany & Co. (NYSE:TIF) is up 6.79% today at $73.35. TIF has traded heavy volume already today with 5.1 million shares traded, more than double its daily average. TIF shares are climbing today after issuing a strong forecast for 2012. Tiffany did post a slight drop in fourth quarter earnings, but investors ignored that in favor of its forecast. The company has a market cap of 9.30 billion. [Read more...]