The Dow Rallies Late to Avoid a Big Drop

What a crazy day it was for the Dow Jones Industrial Average (INDEX: ^DJI  ) , which crawled nearly all the way back to even today after dropping more than 190 points in early trading. Europe was the main catalyst for the drop early in the day, as investors continued to worry about the possibility of Greece's exit from the eurozone. But the day turned around late as optimism reigned that the Greece fears were overblown, and more positive U.S. housing data was digested. Individually, Bank of America (NYSE: BAC  ) was the biggest winner on the day, while Intel (NYSE: INTC  ) and Microsoft were dragged down by Dell's poor earnings and concern about demand for PCs. Outside the Dow, Facebook (Nasdaq: FB  ) finally had a positive day, gaining 3.2%, but is still down 23.9% since its IPO on Friday. 

While it's important to pay close attention to the market, it's also important to not to get too worked up about what happens in the short term. The most successful stock picks are usually great businesses that grow over time. Our analysts have uncovered one such company in our new report, "The Motley Fool's Top Stock for 2012." It highlights a company that is revolutionizing commerce in Latin America. You can get instant access to the name of this company by clicking here -- it's absolutely free.

Brendan Byrnes owns no shares of any company mentioned above. The Motley Fool owns shares of Intel, Bank of America, and Microsoft. Motley Fool newsletter services have recommended buying shares of Intel, Dell, and Microsoft, creating a diagonal call position in Wal-Mart Stores, and creating a bull call spread position in Microsoft. The Motley Fool has a disclosure policy. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.


Read/Post Comments (0) | Recommend This Article (6)

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.

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: 1893517, ~/Articles/ArticleHandler.aspx, 10/30/2014 11:19:12 AM

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...


Advertisement