Once again, the markets responded favorably to positive news. Today, the contributing factor was the renewal of the payroll tax holiday, which will cut Social Security tax withholding from 6.2% to 4.2% for the remainder of 2012. Fellow Fool Chuck Saletta thinks that's terrible news for Social Security itself, but the move helped push the Dow Jones Industrials (INDEX: ^DJI ) to another multiyear high, rising 46 points to 12,950.
Some stocks did even more to support the Dow. Let's take a look at three of them.
Intel (Nasdaq: INTC ) , up 2.1%
Speaking of multiyear highs, Intel is back at levels it hasn't seen since the end of 2007. Thus far, 2012 has been a good year for tech stocks generally, but Intel is flying higher than some of its peers.
The reason may be its new mobile offerings. As Piper Jaffray analyst Gus Richard told Barron's this morning, Intel's new mobile chips may give wireless carriers what they want: branded phones of their own, rather than having to rely on third-party handset makers to drive sales -- and take subsidies away from carrier revenue. If Intel can deliver that, then any concerns that Intel is too late to the mobile game could evaporate quickly -- and the market's love affair with rival ARM Holdings (Nasdaq: ARMH ) , which had a head start in mobile, could end as quickly as it began. That's why I gave Intel a bullish CAPScall earlier this week.
DuPont (NYSE: DD ) , up 1.9%
DuPont is a huge company, with its hand in both agribusiness and chemicals. Although the company's profits dropped in its most recent quarter, the future for DuPont looks bright.
One big reason is the tight market for titanium dioxide. The chemical, which is used as a white paint pigment as well as for plastics, textiles, and other uses, has seen demand and prices skyrocket. Yet among major producers, DuPont is the only one in a position to expand its capacity substantially, with a 350,000 ton increase expected by 2014. That wide moat should keep DuPont looking good in the coming years.
General Electric (NYSE: GE ) , up 1.5%
GE has been one of the big winners in the Dow since the market meltdown. The company has gone a long way toward restoring its dividend, with its shares also having provided quite a bit of capital appreciation as well.
Today, the company announced that it would open a new technology center in New Orleans. The center will eventually employ 300 IT workers to help improve technology for the company's GE Capital financial services business. Combined with GE's initiative to boost its aviation business that it announced earlier this week, the company is clearly trying to reverse any beliefs that GE is benefiting from U.S. tax breaks while sending jobs overseas.
Tomorrow's another day
These stocks celebrated the weekend early, but who knows what will happen next week? If you invest for the long haul, day-to-day movements aren't important. If you're interested in the one stock that our chief investment officer picked to crush the market, check out our brand-new report, "The Motley Fool's Top Stock for 2012." It highlights a company that is revolutionizing commerce in Latin America. For a limited time, you can get instant access to the name of this company for free by clicking here.