Bank of America - Top Performing Dow Component

Published on Friday, 03 February 2012 12:35 Written by Christopher Lynn

New York, February 3rd (TradersHuddle.com) - The Dow Jones Industrial Average is higher trading at 12852.2, which represents 1.16% versus its previous trading session close. The blue chip index is having a broad rally with only one Dow component trading lower.

Bank of America (NYSE:BAC) is the Dow's top performer this morning with the stock trading at $7.8 representing 4.7% versus the previous trading session. Shares of Bank of America, the largest U.S. lender have defined support at $7.02 and resistance at $7.50.

Caterpillar (NYSE:CAT) is also among the top performers early in the trading session, trading at $113.08 representing 2.49% from its previous close. Caterpillar, the largest earth moving equipment maker in the world has calculated support and resistance levels at $104.45 and $114.00 respectively. The other top performer this morning is Alcoa (NYSE:AA), which is trading at $10.67 representing 2.4% from the previous trading session.

The Dow's worst performers include Wal-Mart (NYSE:WMT) that is trading at $61.89 or -0.08% from the previous close. Shares of Wal-Mart, the biggest retailer in the world have defined support at $56.32 and resistance at $62.00. Also among the worst performers we have Merck (NYSE:MRK), which is trading at $38.48 representing 0.1% from the previous trading session.

Benchmark crude for January delivery is also trading higher at $97.12 a barrel on the New York Mercantile Exchange higher by $-0.1 from the previous trading session.

The Dow is underperfoming the S&P 500 but is pretty much equal with the NASDAQ composite. The S&P 500 is currently trading at 1342.92, which represents 1.31% from previous close, the Nasdaq on the other hand is trading at 2902.84 that represents 1.51% from previous session.