3 Stocks Leading the Dow to New Heights

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

The Dow Jones Industrial Average (DJINDICES: ^DJI  ) continues to blow past all-time highs, having briefly reached 14,321 this morning. The market fell slightly as the day went on, and as of 3:15 p.m. EST the Dow is up 0.35%.

The market was driven higher by better-than-expected employment data. According to payroll company ADP, the U.S. added 198,000 jobs during February and added 23,000 more in January than originally estimated. Analysts only expected 175,000 jobs to be added in February, so this was a significant beat.

Bank of America (NYSE: BAC  ) is charging 3.5% higher today. The megabank tends to jump when positive economic data is released, but investors are also speculating that tomorrow's stress-test results will show a bank healthier than it was a year ago. This could lead to an increased dividend, which investors would love to hear in the next few months.

Hewlett-Packard (NYSE: HPQ  ) leads the Dow with a 3.6% gain after it signed a deal with Teradyne for networking solutions. Teradyne expects the deal to speed up development of new testing products, which is data-intensive. At this point any good news is great for HP, and the improving economy gives the company a larger pool of customers to draw from.

Alcoa (NYSE: AA  ) rounds out the top three, gaining 3.2% for the day. Alcoa was down last week on fear that China would slow down, but now it's spiking on hope for the U.S. economy. The stock can be volatile based on economic news, but with the U.S. economy growing gradually, investors looking to buy Alcoa can get in when the stock drops and then take advantage of days like today.

Materials industries are traditionally known for their high barriers to entry, and the aluminum industry is no exception. Representing 14.7% of 2011 global production in this highly consolidated industry, Alcoa is in prime position to take advantage of growth that some expect will lead to total industry revenue approaching $160 billion by 2017. Based on this prospective and several other company-specific factors, Alcoa is certainly worth a closer look. For a Foolish investment perspective on this global giant, simply click here to get started.


Read/Post Comments (0) | Recommend This Article (2)

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: 2297365, ~/Articles/ArticleHandler.aspx, 9/29/2016 1:06:35 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 3 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 12.84 0.24%

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 5:27 PM
^DJI $18339.24 Up +110.94 +0.61%
AA $9.88 Up +0.23 +2.38%
Alcoa CAPS Rating: ***
BAC $15.38 Up +0.09 +0.59%
Bank of America CAPS Rating: ****
HPQ $15.49 Up +0.15 +0.98%
HP CAPS Rating: ***