Dow Fades After 5 Straight Days of Gains

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

For the third day in a row, the Dow Jones Industrial Average (DJINDICES: ^DJI  ) failed to move significantly, falling 24 points or 0.2%. Economic reports out today were essentially as expected, while three of the biggest companies to report earnings yet -- eBay, JPMorgan Chase (NYSE: JPM  ) , and Goldman Sachs -- all beat estimates.

JPMorgan, the country's No. 1 bank by assets, said profits rose 53% in the fourth quarter to $1.39 a share from $0.90 a year ago. That figure topped Wall Street estimates of $1.16, but the big news seemed to be that CEO Jamie Dimon's 2012 payout was slashed to $11.6 million because of the London Whale debacle. Shares opened lower but closed out the day up 1%.

The Consumer Price Index for December was flat as gas prices came down and customers tended to stay during the holiday shopping season, and industrial production was up a modest 0.3%. In the afternoon, the Federal Reserve delivered its Beige Book report, which comes out eight times a year. Though the announcement at times moves markets when interest rates are hanging in the balance, today the central bank merely observed that economic activity has continued to grow even as the fiscal cliff hampered consumer spending last month.

Boeing (NYSE: BA  ) found itself in more hot water after an All Nippon Airways Dreamliner plane was again forced to make an emergency landing, this time because of a battery issue. Later on, just days after Transportation Secretary Ray LaHood insisted the 787s were safe to fly, the FAA ordered all 787 Dreamliners to be temporarily grounded. The agency said airlines would have to demonstrate that the lithium ion batteries that have caused some of the problems were safe before they could fly the new jet again.

United is the only U.S. airline that currently flies the planes, but Japanese airlines followed suit and grounded their fleets. Only about 50 787s are operational, though Boeing has orders for at least 800 more, and there have already been several safety issues. Shares of Boeing dropped 3.4% during the trading session and another 2.1% after hours.

Hewlett-Packard (NYSE: HPQ  ) shares jumped 4.1% after The Wall Street Journal reported that some buyers have expressed interest in its Autonomy and EDS units, which follows news earlier this week that rival Dell may be taken private. HP doesn't seem interested in selling at the moment, but the offers nonetheless caused shares to spike this afternoon.

Several Dow components will deliver earnings tomorrow, including American Express, Bank of America, and Intel.

If you're feeling nervous after the latest announcement about Boeing, I recommend taking a look at our premium research report all about the aerospace giant. This analysis provides all the details you need to know about the Dreamliner and will keep you updated as the story develops. You'll also learn about other important opportunities and risks facing the company. To get started with this valuable new package now, just click right here now.

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

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: 2200516, ~/Articles/ArticleHandler.aspx, 9/30/2016 1:23:39 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 4 hours ago Sponsored by:
DOW 18,143.45 -195.79 -1.07%
S&P 500 2,151.13 -20.24 -0.93%
NASD 5,269.15 -49.39 -0.93%

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

9/29/2016 4:01 PM
AXP $63.37 Down -0.85 -1.32%
American Express CAPS Rating: ****
BA $131.03 Down -1.20 -0.91%
Boeing CAPS Rating: ****
BAC $15.16 Down -0.22 -1.43%
Bank of America CAPS Rating: ****
DELL.DL $0.00 Down +0.00 +0.00%
Dell CAPS Rating: *
EBAY $32.30 Up +0.45 +1.41%
eBay CAPS Rating: ****
GS $158.95 Down -4.50 -2.75%
Goldman Sachs CAPS Rating: ***
HPQ $15.39 Down -0.10 -0.65%
HP CAPS Rating: ***