Weak financials had the Dow Jones Industrial Average down about 0.11% to take it to the 12,555 range in the morning session. The financial sector continued to be the poorest-performing group for the Dow, with Bank of America (NYSE: BAC) down to about $10.70, close to a 3% loss; and JP Morgan (NYSE: JPM) lower by almost 2%, to around $40.30.
Bank of America is trading beneath its 20-, 50- and 200-day moving averages. Its relative strength index is at 41.68, with 30 being the benchmark for a stock considered to have been oversold. There is a low short float on Bank of America at 0.98%, and the stock is trading about 3% higher than its bottom price for the year.
JP Morgan also is trading beneath its 20-, 50- and 200-day moving averages. It too has a low short float at 0.88%. With a relative strength index of 44.44, JP Morgan is well above the 30 threshold, too. JP Morgan is about 15% above its year low.
AT&T (NYSE: T) was down at 1.5%, trading around $31.20 on news a Sprint (NYSE: S) iPhone deal was reported as likely. AT&T is trading above its 20-, 50- and 200-day moving averages. With a relative strength index of 53.32, it is well beneath the 70 plateau for a stock to be viewed as overbought.
Leading the gainers for the Dow was United Technologies (NYSE: UTX), up about 0.67% to about $90.10. UTX is trading more than 12.5% above its 200-day moving average and also is above its 20- and 50-day moving averages. With a relative strength index of 67.96, it is very close to the 70 mark. UTX is trading close to its year high of $90.57.
Also gaining in the morning session was Pfizer (NYSE: PFE), posting a 0.43% increase to take it near $21 per share. The company announced positive Phase 3 results for Lyrica, a neuropathic pain drug, in Japan. Pfizer also is trading above its 20-, 50- and 200-day moving averages, has a relative strength index of 57.64 and is close to its year high of $21.45.
Taking aloft in early trading was Boeing (NYSE: BA), with gains over 0.3% to lift the price to around $74.40. Boeing is trading above its 20- and 200-day moving averages. It is about 7% beneath its high for the year of $80.22. The relative strength index for Boeing is 50.93.
