Personal Income Rises Less Than Expected
Personal income rose less than expected in May to weigh the markets down to a lower close with the Dow slipping 5 points to 10,138. Nasdaq eased 2 points to 2220.
On the upside
Aflac (NYSE: AFL) sold all of its holdings in Greek debt.
Genco (NYSE: GNK) announced on Friday that it would pay $545 million to purchase 16 Supramax dry bulk vessels.
Vishay Intertechnology (NYSE: VSH) will offer a new mid-range infrared sensor with both digital and analog outputs.
On the downside
Isle of Capri (Nasdaq: ISLE) will offer 9 million common shares.
Shares of Ford (NYSE: F) fell ahead of Tesla's IPO tomorrow.
Bank of America (NYSE: BAC), JPMorgan Chase (NYSE: JPM), and Citigroup (NYSE: C) must all increase their capital levels under the Collins amendment ot the financial reform bill.
In the broad market, declinig issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 641.
