Today, industrials editor and analyst Brendan Byrnes talks about what's dragging down the Dow through midday trading. Spain is a main catalyst for the Dow's drop, as its benchmark 10-year bond yields rose again above 7%, a level that's considered unsustainable. Spain also cut its 2013 GDP forecast, predicting now that GDP would contract 0.5% in 2013 versus the 0.2% growth previously forecast. With earnings season in full swing, a number of blue chips reported after hours last night or this morning. General Electric slightly beat expectations, as did Microsoft, though it technically posted a loss due to the writedown in the value of its online unit. Outside the Dow, Google reported impressive earnings last night, growing EPS by 11% and revenue by a whopping 35%. Check out the video below for more on what's driving the Dow today, as well as individual winners and losers.
As evidenced with bad news out of Spain today, there is still a tremendous amount of uncertainty surrounding the market. That may tempt many investors to take their money and run far from stocks, but that can be one of the biggest mistakes investors can make. Some of the most successful stock picks are great dividend stocks purchased at attractive valuations on dips in the market. With that in mind, we've taken an in-depth look at all 30 Dow components and picked out our three favorite Dow dividend stocks that investors can buy right now. You can find the names and analysis of these companies in our brand-new free report: "The 3 Dow Stocks Dividend Investors Need." Read the report now -- it's absolutely free.
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