October 22, 2012
Investors must have had a good weekend, because today's trading was relatively calm following Friday's 1.5% drop, the first decline of more than 1% in over 80 days. Gaining just 2.38 points, or 0.02%, the Dow Jones Industrial Average was split relatively evenly between gainers (13) and losers (17). There really wasn't a consistent trend, either; there were stocks on both sides of the aisle from each sector.
Hewlett-Packard (NYSE: HPQ ) has been a troubled stock this year, but it led the Dow's gainers today, up 1.59%. Counter this with another major player in the technology space, Microsoft, which led the losers, as shareholders lost 2.23% today. Financials also couldn't figure out what direction their industry wanted to head, with Bank of America (NYSE: BAC ) up 1.17% and American Express (NYSE: AXP ) tiptoeing into negative territory, down 0.21%.
On a day where many observers figured to see some further declines based on Friday's sentiment, it was a fairly bland day, especially with Caterpillar (NYSE: CAT ) reducing its profit forecast and clothing conglomerate VF (NYSE: VFC ) reporting skidding revenues out of the European market. We'll see whether Friday's downward pressure has been brushed aside and the market can remain resilient moving forward the rest of the week.
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