Bank of America, Intel and General Electric plunge as the Dow Jones Fell 0.51%

US stock market witnessed correction on Friday as the Dow Jones Industrial Average fell 0.51 percent or 61.23 points to 11,938.24. Standard & Poor’s 500 index declined 0.63 percent or 7.92 points to 1,253.23 while NASDAQ Composite plunged 0.44 percent or 11.82 points to close at 2,686.15 points.

Bank of America Corp (NYSE:BAC) was the top fall with highest volume among Dow Jones companies today. The share price plunged 6.08 percent to close at $6.49 with traded volume of 265.50 million shares. The share price saw its support at $6.45 while its resistance was seen at $6.75.

Intel Corporation (NASDAQ:INTC) declined 1.90 percent to close at $23.74 for the day. The share price traded with the volume of 46.47 million shares as compared to its average traded volume figure of 1.95 million shares per day. The stock found its support at $23.66 while its resistance could be seen at $24.07. The share price was trading at a price to earnings of 10.26 which is in the lower range comparing it with its industry peers.

General Electric Company (NYSE:GE) fell 1.68 percent to close at $16.39 for the day. The share price traded with volume figure of 41.63 million shares as compared to its average traded volume of 68.81 million shares per day. The share price saw the support at $16.23 while its resistance was witnessed at $16.56.

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Rehan Khan

About Rehan Khan

Rehan Khan has been involved in the financial sector for last 6 years. During that time he has been associated with many financial institutions, banks and brokerages. Rehan is also a graduate in finance and has been writing for last 2 years for various web publications, specializing in US stock markets, penny stocks, forex and commodities.

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