Why the Dow's Up This Morning

Despite rioting on the streets of Athens, Greece's parliament went forward with an austerity deal that should open the door to its receiving further assistance from the rest of Europe. The stock market reacted favorably to that news and its positive impact on the global banking industry. At around 10:45 a.m. EST, the Dow Jones Industrials (INDEX: ^DJI  ) were up 35 points to 12,836, while the S&P 500 was up four points to 1,347.

Among stocks in the Dow, General Electric (NYSE: GE  ) was up about 0.6% in early trading. The company said that it would spend $580 million to expand its aviation unit, building three new plants and hoping to add 400 workers. GE also announced a partnership with Microsoft (Nasdaq: MSFT  ) to create a joint venture called Caradigm. The venture will aim at providing information technology to the health-care industry, allowing real-time sharing of information to improve treatment. Microsoft fell slightly on the news.

Energy stocks were slightly higher Monday, with ExxonMobil (NYSE: XOM  ) and Chevron both rising about 0.4%. Chesapeake Energy (NYSE: CHK  ) announced plans to raise between $10 billion and $12 billion in cash by entering into partnerships and selling some of its assets. The money should go toward capital expenditures, with an emphasis on increasing its production of liquids now that natural gas is near decade lows. Although Exxon and Chevron are larger and have fewer liquidity issues than Chesapeake does, the moves that Chesapeake is making have implications for their own natural gas businesses in the future.

Stocks may rally after promising news, but it's all part of a bigger picture for the best stocks. To learn about some promising stock prospects, let me invite you to read the Motley Fool's latest special report and discover three stocks with the potential for huge gains over the long haul. It's free, but don't wait -- click here and read it today.

Fool contributor Dan Caplinger doesn't own shares of the companies mentioned. You can follow him on Twitter here. The Motley Fool owns shares of Microsoft. Motley Fool newsletter services have recommended buying shares of Chesapeake Energy, Microsoft, and Chevron, as well as creating a bull call spread position in Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Fool has a disclosure policy.

Read/Post Comments (0) | Recommend This Article (10)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 1779550, ~/Articles/ArticleHandler.aspx, 10/23/2016 12:27:08 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 1 day ago Sponsored by:
DOW 18,145.71 -16.64 -0.09%
S&P 500 2,141.16 -0.18 -0.01%
NASD 5,257.40 15.57 0.30%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/21/2016 4:47 PM
^DJI $18145.71 Down -16.64 -0.09%
CHK $6.68 Down -0.23 -3.33%
Chesapeake Energy CAPS Rating: ***
GE $28.98 Down -0.09 -0.31%
General Electric CAPS Rating: ****
MSFT $59.66 Up +2.41 +4.21%
Microsoft CAPS Rating: ****
XOM $86.62 Down -0.59 -0.68%
ExxonMobil CAPS Rating: ****