Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Dow Caps Off Forgettable Week With a Whimper

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

The Dow Jones Industrial Average (INDEX: ^DJI  ) broke its four-day losing streak today, barely, with a gain of two points, or 0.02%. Still, it was the worst week for the blue chips since late May, when stocks bottomed out. More good economic news in the form of a five-year high in consumer sentiment led to an early gain. That reading jumped to a preliminary October figure of 83.1 from just 78.3 in September, its highest standing since September 2007, and well ahead of the 78.5 the market was expecting.

Later in the day, comments from IMF Director Christine Lagarde stemmed the morning gains when she said that policymakers in Europe and the United States need to move more aggressively to address slow economic growth and high unemployment.

Financial stocks led the losers today, as the market seemed to say "not enough" to JPMorgan Chase (NYSE: JPM  ) and Wells Fargo (NYSE: WFC  ) , which topped earnings estimates in their pre-market reports. Both banks were buoyed by an improving housing market, as JPMorgan posted an EPS of $1.40 on expectations of $1.21, and Wells Fargo turned in earnings of $0.88 cents per share, a penny ahead of estimates. The market reaction toward the banks seemed to indicate dubiousness that future earnings will not grow as fast as they have been growing, as the financial institutions are forced to deal with tighter regulations and lend to riskier customers in order to grow. JPMorgan fell 1.1%, while Wells Fargo, which missed revenue estimates, dropped 2.6%. Bank of America (NYSE: BAC  ) fell 2.4% as a tandem play and will report next week.

Boeing (NYSE: BA  ) led the Dow advancers, gaining 1.4% after inking a deal with Alaska Airlines for 50 737 planes, worth a total of $5 billion, the largest purchase in the airline's history. Alaska Airlines will also spend an additional $1.2 billion on jet engines from General Electric. Elsewhere, Hewlett-Packard (NYSE: HPQ  ) rose 1.1%, as expectations around Windows 8 are growing. Microsoft (Nasdaq: MSFT  ) began taking pre-orders for the new operating system today. Finally, Wal-Mart (NYSE: WMT  ) was the only other Dow stock to gain more than 1%, as Jefferies bank upgraded the stock after a bullish run over the last few months, capped with news earlier this week that the retail giant would begin same-day deliveries.

For investors looking to get an inside look at the banking sector, I recommend picking up a copy of our premium report on Bank of America. It features opportunities and risks that investors need to watch in the volatile stock, as well as a year's worth of free updates as a bonus. To get your copy now, just click right here.

Fool contributor Jeremy Bowman holds no positions in the companies in this article. The Motley Fool owns shares of JPMorgan Chase, Microsoft, Wells Fargo, and Bank of America. Motley Fool newsletter services have recommended buying shares of Wells Fargo. Motley Fool newsletter services have recommended creating a synthetic covered call position in Microsoft. The Motley Fool has a disclosure policy. We Fools may not 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 (2)

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: 2056120, ~/Articles/ArticleHandler.aspx, 10/25/2016 4:43:44 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...

Today's Market

updated 7 hours ago Sponsored by:
DOW 18,223.03 77.32 0.43%
S&P 500 2,151.33 10.17 0.47%
NASD 5,309.83 52.43 1.00%

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

10/24/2016 4:56 PM
^DJI $18223.03 Up +77.32 +0.43%
BA $137.45 Up +1.82 +1.34%
Boeing CAPS Rating: ****
BAC $16.77 Up +0.10 +0.60%
Bank of America CAPS Rating: ****
HPQ $13.97 Up +0.17 +1.23%
HP CAPS Rating: ***
JPM $68.87 Up +0.38 +0.55%
JPMorgan Chase CAPS Rating: ****
MSFT $61.00 Up +1.34 +2.25%
Microsoft CAPS Rating: ****
WFC $45.52 Up +0.43 +0.95%
Wells Fargo CAPS Rating: ****