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



The Dow Finishes Up a Stellar Week

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.

The Dow Jones Industrial Average (DJINDICES: ^DJI  ) closed out a strong week with another solid performance, gaining 71 points, or 0.5%, to reach 13,896. For the week, the Dow gained 300 points, or 2.3%, rising to a five-year high, while the S&P 500 finished above 1,500 for the first time since 2007.

Macroeconomic indicators on housing and jobs are moving in the right direction, corporate earnings are strong, and concerns over budget troubles and Europe have mostly faded.

Procter & Gamble (NYSE: PG  ) helped keep the rally going today, delivering better-than-expected earnings in its fiscal second quarter. The consumer goods giant earned $1.22 per share against Wall Street estimates of just $1.11, a gain driven by higher prices and new products such as single-use units of Tide detergent. Organic sales grew 3% in the quarter, a greater increase than expected, as the household products maker has struggled to find new avenues for growth in recent years. The company also boosted its 2013 EPS forecast to $3.97-$4.07 and increased its buyback range. P&G shares finished the day up 4%.

New home sales for December were lower than expected at 369,000, but the report still closed out 2012 with the first annual gain in new home sales since 2005, and the highest number since 2009. Industry analysts expect the upward trend to continue in 2013. In Europe, a German business index also made a surprising jump in December, dissuading fears of a fourth-quarter contraction there, sending the German DAX up 1.4%.

In other Dow stocks making moves, JPMorgan Chase (NYSE: JPM  ) climbed 1.7% after Deutsche Bank upgraded the big bank to a buy."Analyst Matthew O'Connor said JPMorgan "was the best-positioned market-sensitive bank for a pickup in consumer loan growth." It also noted that the bank's annual operating expenses may drop by as much as $5 billion in part because of a decline in mortgage service costs.

Wal-Mart (NYSE: WMT  ) was the blue chips' biggest loser today, falling 1.1% on essentially no company-related news. The CEO of Wal-Mart International met yesterday with India's trade minister at Davos to discuss new rules on Foreign Direct Investment in the country. Wal-Mart is still working out the best strategy for entering the subcontinent.

To find out what else JPMorgan Chase is up to, get a copy of our new premium research report, which features an inside look at the company's opportunities and risks. As a free bonus, it comes with a year's worth of updates to keep you in the know as breaking news and earnings reports come out. To get access to this exclusive package now, all you have to do is click right here.

Read/Post Comments (0) | Recommend This Article (1)

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: 2216968, ~/Articles/ArticleHandler.aspx, 9/29/2016 8:20:05 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 18,339.24 110.94 0.61%
S&P 500 2,171.37 11.44 0.53%
NASD 5,318.55 0.00 0.00%

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

9/28/2016 4:00 PM
JPM $66.71 Up +0.35 +0.53%
JPMorgan Chase CAPS Rating: ****
PG $89.46 Up +1.10 +1.24%
Procter and Gamble CAPS Rating: ****
WMT $71.79 Down -0.54 -0.75%
Wal-Mart Stores CAPS Rating: ***