The S&P 500
Despite the up week for the market, the latter part of the week held some bad news for Europe and for banking. Most significantly for Europe, ratings agency Standard & Poor's downgraded France from its vaunted AAA perch. In banking, JPMorgan Chase's earnings weren't stellar and Bank of America
All that said, JPMorgan was still up for the week with a 1.6% gain. Meanwhile, B of A was one of the week's three biggest winners.
Gain This Week
|Bank of America||7%||18.9%|
You'll also notice that each of these three is up pretty big for the year. In fact, they're the three biggest winners in the Dow so far.
Alcoa and Bank of America are coming off a miserable 2011 that saw their shares fall by about half (a little less for Alcoa, a little more for B of A). Meanwhile, Caterpillar was only down about three percent.
All three are especially sensitive to macroeconomic hopes and fears. And for whatever reason, sentiments have been more favorable to start the year.
If you're a shareholder in Caterpillar, Alcoa, or B of A, enjoy these short-term gains. But let's all remember to keep focused on the long term. If you're looking for three vetted stocks with good future prospects, check out our brand new free report: "3 American Companies Set to Dominate the World." Get instant access.
Anand Chokkavelu and The Motley Fool own shares of JPMorgan Chase and Bank of America. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.