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



Dow Churns as Markets Wait on News From the Fed

The Dow Jones Industrial Average (DJINDICES: ^DJI  ) spent the early part of the morning in the dumps, after losing nearly 160 points yesterday, but began to perk up by midmorning. Stocks dropped again shortly thereafter, however, and appear to be on a bit of a roller-coaster ride as the Washington standoff continues, and President Barack Obama and House Speaker John Boehner appear to move further apart on fiscal issues.

Early this morning, the Mortgage Bankers Association delivered a trickle of good news on the mortgage front, reporting an uptick in mortgage applications of 1.3% last week, after a decrease of 0.4% for the prior week. A slight decrease in mortgage rates pushed up refinancing demand, with that index gaining 2.5%, its highest level since early August.

The Federal Reserve will take center stage this afternoon, as markets eagerly await the minutes of the Federal Open Market Committee meeting for September. In addition, President Obama is expected to announce the nomination of Janet Yellen as his pick to become the next Chair of the Federal Reserve.

A bumpy ride for Dow companies
As the Dow heads downward again by late morning, three companies are still holding on to their gains. AT&T (NYSE: T  ) and Verizon are shining, as is technology giant Intel (NASDAQ: INTC  ) .

AT&T, which is up by 2.25% so far, is very close to a sale of its wireless towers to Crown Castle International, a deal which could put $5 billion in the communication company's pockets.

More good news for AT&T also involves Intel, as General Electric (NYSE: GE  ) pushes forward with its plans to build out the industrial Internet. GE has announced that it will use AT&T's network and cloud to wirelessly connect GE machines all over the world, boosting efficiency and reducing downtime. Partnering with Intel, GE plans to increase the efficiency of machine software upgrades and embed cloud-based interfaces within its GE Predix platform. This ambitious project aims to increase productivity and improve communications for industries such as airlines, railroads, and power plants.

More great investing advice
The best investing approach is to choose great companies and stick with them for the long term. The Motley Fool's free report " 3 Stocks That Will Help You Retire Rich" names stocks that could help you build long-term wealth and retire well, along with some winning wealth-building strategies that every investor should be aware of. Click here now to keep reading.

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: 2675336, ~/Articles/ArticleHandler.aspx, 9/25/2016 11:54:10 PM

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 2 days ago Sponsored by:
DOW 18,261.45 -131.01 -0.71%
S&P 500 2,164.69 -12.49 -0.57%
NASD 5,305.75 -33.78 -0.63%

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

9/23/2016 4:55 PM
^DJI $18261.45 Down -131.01 -0.71%
GE $29.89 Down -0.15 -0.50%
General Electric CAPS Rating: ****
INTC $37.19 Down -0.36 -0.96%
Intel CAPS Rating: ****
T $41.28 Up +0.17 +0.41%
AT and T CAPS Rating: ****