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.
This morning we saw strong numbers from the auto industry and increasing U.S. factory orders, which have given investors the confidence to continue yesterday's bullish rally and buy stocks again today. As of 11:45 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI ) is higher by 55 points, or 0.37%, and now rests above 15,000, at 15,030. The S&P 500 has risen 0.45%, while the Nasdaq is up 0.38% this morning. Currently, 24 of the Dow's 30 components are moving higher; let's take a look at the best performer of the day.
JPMorgan Chase (NYSE: JPM ) is currently leading all components higher as it is up 2.14%. The reason for the move was an upgrade from Raymond James from "outperform" to "strong buy." Additionally, Raymond James increased its target price for JPMorgan to $64 per share, while the stock currently trades in the $53 area.
A big winner outside the Dow today is Abercrombie & Fitch (NYSE: ANF ) , which is currently up 5% today, and up more than 10% this past week alone. We may be seeing a short squeeze happening right now, as the stock had 8.5% of shares outstanding sold short per the most recent data, which is a few weeks old. The move over the past few days may have put traders in a tight position, and instead of suffering any further, they are now buying back shares and pushing the price of the retailer even higher.
A big loser outside the Dow is Best Buy (NYSE: BBY ) , as shares are now down 2.49%. One negative news report surrounding Best Buy says that Capital One is selling its Best Buy-branded credit card accounts. Citigroup is buying the portfolio of cards and no financial details have been released about the transaction, which is scheduled to close sometime in September, but the idea that Capital One is selling the portfolio would indicate that it has not been an overachiever. And this may be an indication that Best Buy is performing worse than some had previously expected.
More foolish insight
Tax increases that took effect at the beginning of 2013 affected nearly every American taxpayer. But with the right planning, you can take steps to take control of your taxes and potentially even lower your tax bill. In our brand-new special report "How You Can Fight Back Against Higher Taxes," the Motley Fool's tax experts run through what to watch out for in doing your tax planning this year. With its concrete advice on how to cut taxes for decades to come, you won't want to miss out. Click here to get your copy today -- it's absolutely free.