The Dow Jones Industrial Average
Index |
Change |
Ending Value |
---|---|---|
Dow Jones Industrial Average | +6.51 [0.05%] | 13,239.13 |
S&P 500 |
+5.58 [0.40%] | 1,409.75 |
The big news this morning was Apple finally announcing plans for its nearly $100 billion cash hoard. In a conference call before the market open, CEO Tim Cook announced a quarterly dividend of $2.65 billion and a $10 billion, three-year buyback program. Fool Tech Analyst Eric Bleeker believes the dividend is too conservative and will be raised going forward.
However, Apple is not in the Dow -- if it were, the Dow would be far higher. The Dow opened down this morning as the National Association of Home Builders announced that builder confidence in the market for new homes remained unchanged from its revised downwards February numbers; analysts were expecting a continuation of the past five months trend of rising confidence. Around noon, the Dow moved into positive territory, where it stayed for the rest of the afternoon.
Top Winner
On a largely positive day for financials, American Express
Top Loser
Bank of America
The best approach
Watching the broad market each day is exciting, but also gut-wrenching and stressful; investing doesn't have to be. If you're in the mood to pick up a few great companies to buy for the long term, The Motley Fool has created a brand-new free report, "3 Stocks That Will Help You Retire Rich." It features three stocks to help you build a smarter retirement portfolio. Get access to the report and find out the name of these three companies. The report is free, but won't be forever, so check it out today.