It sure didn't take long for the Dow Jones Industrial Average (^DJI 0.85%) to forget all about last week. The Dow took off this morning and has shown no signs of slowing down so far: As of 2 p.m. EDT, the index has gained 125 points, or 0.9%, and all but four stocks are in the green. With a bevy of highfliers in the market today and several stocks flirting with 52-week highs in the midst of this week's flurry of earnings reports, let's go around the Dow to see who's winning the day.
A big bevy of good news
While it doesn't seem anybody in the market has figured out the abrupt shakeup of Citigroup's leadership yet, strong news out of both Spain and the U.S. manufacturing sector has boosted the Dow for the day. Regarding the former, a Spanish minister claimed that Spain is considering asking for a line of credit from the European Union in what could be the initial step in a bailout for the debt-plagued nation.
In manufacturing, American industrial output rose 0.4% in September, rebounding from a drop of 1.4% in August that stemmed from damages caused by Hurricane Isaac. Renewed activity in oil and gas wells also kicked up industrial activity. The news took the entire sector higher on the Dow today. Index manufacturing staple Caterpillar (CAT 2.11%) ranks among the Dow's leaders with a 2.2% gain so far today.
An uptick in the Consumer Price Index, as well as a sterling earnings report out of Goldman Sachs (NYSE: GS), took the Dow's financial companies higher. American Express (NYSE: AXP) and JPMorgan Chase (NYSE: JPM) have seen shares jump 1.5% and 1.1%, respectively, on the day.
Earnings releases today have been mixed. Health care colossus Johnson & Johnson (JNJ 0.60%) surpassed expectations, and shareholders have been rewarded with shares gaining 1.3%. Meanwhile, Coca-Cola (KO 0.05%) experienced a rare miss in its quarterly report. The beverage company ranks among the worst of the Dow members for the day, down 0.8%. United Health (UNH 0.76%) also inexplicably dropped following a solid earnings report. It's actually the biggest loser, despite the news, with shares down 1.2%.
