Is the Dow Set to Surge?

With the presidential election just around the corner, the markets are understandably soft today. As of 2:45 p.m. EST, the Dow Jones Industrial Average (INDEX: ^DJI  ) is flat, having gained less than a point.

One area seeing gains is the technology sector. Hewlett-Packard (NYSE: HPQ  ) is leading the way, up 1.3%, followed by Intel (Nasdaq: INTC  ) and IBM (NYSE: IBM  ) , up 0.89% and 0.25%, respectively.

Earlier today, Apple (Nasdaq: AAPL  ) revealed that it has sold more than 3 million iPads and iPad minis since the latter went on sale. While analysts had questioned the company's decision to price the downsized tablet at $329, making it more expensive than other similarly sized devices, this clearly doesn't appear to have dampened demand. To read why our resident expert on Apple thinks the company is positioned for a blowout quarter, click here.

In addition, Microsoft's (Nasdaq: MSFT  ) long-awaited Windows 8 has finally debuted on computers and tablets at electronics stores. Sales of personal computers have waned faster than usual lately as consumers put off buying new computers until they came preloaded with the updated operating system. Now that Windows 8 is out, investors will watch for those delayed sales to be reflected in the financial results of HP and others.

Heading down, alternatively, are the financials Bank of America (NYSE: BAC  ) and JPMorgan Chase (NYSE: JPM  ) , the nation's two largest banks by assets. Much of the decline here is likely related to uncertainty surrounding the election and impending "fiscal cliff." In Bank of America's case, for example, the biggest company-specific news of the day was positive. According to reports, the bank will be obligated to hold less capital than previously estimated. This will increase its return potential and may signal that a dividend hike could be on the horizon.

Foolish bottom line
Regardless of who prevails in the election tomorrow, there's good reason to believe that investors in Bank of America will be big winners. To download our in-depth report on the lender, which explains why its stock could "double or triple in the next five years," click here now.


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