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



These Stocks Turned the Dow Around

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

Everybody knows just how important the fiscal cliff is to the nation's economy. But investors in particular seem almost obsessed by every tiny news item related to the tax increases set to take effect at the beginning of 2013. Initially, negative comments from Warren Buffett appeared responsible for sending the Dow Jones Industrials (INDEX: ^DJI  ) to a 100-point loss early in the session. Yet the market turned around after less pessimistic comments from House Majority Leader John Boehner and President Obama, and by the end of the day, the Dow finished up more than 100 points.

Remaining in the spotlight among Dow stocks was Hewlett-Packard (NYSE: HPQ  ) , which rose 3% to wipe out yesterday's plunge. The move came despite a bond-rating downgrade from Moody's, which cut its rating from A3 to Baa1. Citing what it called "execution challenges," Moody's still has confidence that the company will be able to remain a leader in the industry. But the move serves as an important reminder of the competitive challenges HP faces even once it gets its house in order.

Chevron (NYSE: CVX  ) had a nice up-move, jumping more than 2%. The company made the highest bid in a U.S. government auction of drilling rights off the coast of Texas, paying $17.2 million for a single tract. It also spent the most in total of any company among the winning bidders of 116 different tracts, paying $56 million and narrowly beating out ConocoPhillips (NYSE: COP  ) . With production levels falling, Chevron needs opportunities like this to try to restore older wells elsewhere.

Finally, American Express (NYSE: AXP  ) saw gains of almost 2%. Fool contributor Rick Munarriz pointed to news that AmEx had successfully exchanged almost $2 billion in debt for new notes with maturities three to four years further into the future. Locking in financing is important, but the true test for AmEx will come from whether consumer spending rises and its attempts to capture lower-end customers through its Bluebird card initiative pan out.

Should you look to the Dow for dividends?
Millions of investors have turned to dividend-paying stocks for income and protection from market turbulence, and the Dow has plenty of good prospects. If you're looking for some long-term investing ideas, let me invite you to read the Fool's popular special report: "The 3 Dow Stocks Dividend Investors Need." It's absolutely free, so just click here and get your copy today.

Read/Post Comments (0) | Recommend This Article (7)

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: 2131538, ~/Articles/ArticleHandler.aspx, 10/22/2016 8:15:22 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 10 hours ago Sponsored by:
DOW 18,145.71 -16.64 -0.09%
S&P 500 2,141.16 -0.18 -0.01%
NASD 5,257.40 15.57 0.30%

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

10/21/2016 4:00 PM
AXP $67.36 Up +0.58 +0.87%
American Express CAPS Rating: ****
COP $41.54 Up +0.05 +0.12%
ConocoPhillips CAPS Rating: ****
CVX $101.30 Down -0.57 -0.56%
Chevron CAPS Rating: ****
HPQ $13.80 Down -0.30 -2.13%
HP CAPS Rating: ***