After falling in nine out of the last 10 days, the Dow Jones Industrials (INDEX: ^DJI ) are finally taking a solid step forward this morning, rising almost half a percent as of 10:55 a.m. EDT. Some commentators pointed to positive economic news on new home sales, although the problems in Europe still hang over the stock market and will likely keep investors nervous at least until next month's newly scheduled elections in Greece. Gold and oil both fell again, but the 10-year Treasury rate (INDEX: ^TNX ) rose back above the 1.8% level in morning trade.
General Electric (NYSE: GE ) was the big winner in the Dow, soaring more than 3% after announcing that its GE Capital unit would pay a special dividend of $4.5 billion to its corporate parent this year. The move marks another milestone in GE's recovery from the financial crisis, as GE Capital stopped paying its dividend to GE back in 2009 in order to conserve cash.
On the down side, Microsoft (Nasdaq: MSFT ) fell slightly despite a report from Forrester Research yesterday that said that the company is in the best position in the competition among tech giants to build a strong TV presence. Forrester pointed to the company's Xbox platform, which Microsoft has used to pull in a substantial audience and which provides a valuable conduit for content delivery.
Finally, JPMorgan Chase (NYSE: JPM ) was up almost 1% despite having shareholder lawsuits filed against it yesterday over its massive trading loss. Although there's nothing surprising about the suits, JPMorgan investors should expect plenty of volatility in the coming months as the controversy works its way forward through the legal system as well as in the court of public opinion.
Is the correction over?
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