Top Performing Dow Component: JP Morgan

Published on Tuesday, 07 August 2012 12:35 Written by Christian Paolinetti

New York, August 7th (TradersHuddle.com) - The Dow Jones Industrial Average is higher trading at 13201.4, which represents 0.64% versus its previous trading session close, with 24 of its components trading in positive territory.

JP Morgan (NYSE:JPM) is the Dow's top performer this morning with the stock trading at $37.49 representing 3.26% versus the previous trading session. Shares of JP Morgan, the second largest U.S. lender have defined support at $34.76 and resistance at $37.20.

Cisco (NASDAQ:CSCO) is also among the top performers early in the session, trading at $17.18 representing 2.91% from its previous close. Cisco, the networking giant has calculated support and resistance levels at $14.96 and $16.11 respectively. The other top performer this morning is Bank of America (NYSE:BAC), which is trading at $7.84 representing 2.63% from the previous trading session.

The Dow's worst performers include Pfizer (NYSE:PFE) that is trading at $23.85 or -1.71% from the previous close. Shares of Pfizer, the pharmaceutical company maker of Viagra and Lipitor have defined support at $21.95 and resistance at $24.49. Also among the worst performers we have JNJ (NYSE:JNJ), which is trading at $68.49 representing -0.51% from the previous session.

Benchmark crude for August delivery is also trading higher at $92.66 a barrel on the New York Mercantile Exchange higher by $0 from the previous trading session.

The Dow is under performing the S&P 500, but is pretty much equal with the NASDAQ composite. The S&P 500 is currently trading at 1405.92, which represents 0.84% from previous close, the Nasdaq on the other hand is trading at 3024.69 that represents 1.16% from previous session.