A broad market rally is boosting the Dow by 0.9%, or 124 points, as of this writing. The largest percentage gains come from the financial sector as Bank of America (NYSE:BAC) jumped 2.5% and JPMorgan Chase (NYSE:JPM) added 2.2%. A sunny report on American manufacturing activity shines a favorable light on economic growth prospects, which would give entrepreneurs of all stripes plenty of reason to look for financial services. The economy runs on loans and savings, after all.
Several tickers from the tech sector also camp out at the top of today's Dow, including International Business Machines (NYSE:IBM). Since IBM holds the heaviest weight of the 30 Dow blue chips, that move alone added 26 points to the index value. Big Blue can credit this jump to the same favorable economic wave as everyone else, but heavyweight analyst firm Deutsche Bank also helped by raising its price targets on IBM by 7%. These tidbits can move markets.
But this rising tide didn't lift every boat. Microsoft (NASDAQ:MSFT) is today's biggest loser and one of only two Dow stocks trading in the red right now. Investors take a dim view of Mr. Softy's imminent launch of Windows 8 for both mobile and traditional hardware platforms, and today's 0.9% price drop brings Microsoft to a 4.3% negative return over the last 30 days. The Dow has gained 3.4% over the same period.
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Fool contributor Anders Bylund holds no position in any of the companies mentioned. Check out Anders' holdings and bio or follow him on Twitter and Google+. The Motley Fool owns shares of JPMorgan Chase, Bank of America, IBM, and Microsoft. Motley Fool newsletter services have recommended buying shares of Microsoft. Motley Fool newsletter services have recommended creating a synthetic long position in IBM and a synthetic covered call position in Microsoft. The Motley Fool has a disclosure policy.
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