The Dow Jones Industrial Average
|Dow Jones Industrial Average||+6.51 [0.05%]||13,239.13|
The big news this morning was Apple finally announcing plans for its nearly $100 billion cash hoard. In a conference call before the market open, CEO Tim Cook announced a quarterly dividend of $2.65 billion and a $10 billion, three-year buyback program. Fool Tech Analyst Eric Bleeker believes the dividend is too conservative and will be raised going forward.
However, Apple is not in the Dow -- if it were, the Dow would be far higher. The Dow opened down this morning as the National Association of Home Builders announced that builder confidence in the market for new homes remained unchanged from its revised downwards February numbers; analysts were expecting a continuation of the past five months trend of rising confidence. Around noon, the Dow moved into positive territory, where it stayed for the rest of the afternoon.
On a largely positive day for financials, American Express
Bank of America
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