The Dow Jones Industrial Average
A knight in yellow armor
Enter Dow winner Caterpillar
One of the big reasons Caterpillar is driving the Dow today, despite the AT&T anchor, is that the equipment maker is the second most heavily weighted stock on the index at 6.5%. That's 3.6 times AT&T's 1.8% weighting.
AT&T and fellow carrier Verizon's light weighing on the Dow is good news for the index today, as well as going forward.
While AT&T stumbled today, the story was much the same for fellow wireless provider Verizon -- minus the breakup fee -- when it reported earnings earlier. The company was hit by the burden that offering Apple's
The trend is indicative of the power shift in the mobile space as some of the best players cease to be the providers themselves.
The best approach
Many investors have been eyeing telecom stocks for their fat dividends, but the reality is that there are better picks out there.
If you'd like to uncover some of The Motley Fool's favorite dividend payers, I invite you to read our special free report: "Secure Your Future With 11 Rock-Solid Dividend Stocks." In it you'll find some of the safest, most sterling dividend payers out there. The report is free today, but won't be available forever, so click here to read it now.
Austin Smith owns no shares of the companies mentioned here. The Motley Fool owns shares of Apple. Motley Fool newsletter services have recommended buying shares of Apple, as well as creating a bull call spread position in Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.