With only two of the Dow Jones Industrial Average (INDEX: ^DJI) components in the green, it's rather easy to find a few companies we can blame for today's 243-point slide. Earnings announcements and proof that the bears needed to justify their fears that the world is slowing caused the Dow to drop today.
Today, 28 of the 30 Dow components are in the red, with the index closing at 13,102, down 1.82% for the day. That's not want investors wanted after last Friday's 200-point slide. The only two stocks that were up on the day were Microsoft (Nasdaq: MSFT) and Intel (Nasdaq: INTC).
So why were they up?
Microsoft moved higher by 0.17% today after reports broke that the company has sold out of its preorders for the company's Surface tablet. While this means that demand is present for the product, the issue is that no numbers have been released on what the availability was. The number of units actually sold is still unknown, and if it's a rather low number, investors jumping in now will just be crushed later. The company will also be releasing Windows 8, its new and supposedly much improved operating system, on Oct. 26.
Intel's positive move was probably also due to the Surface news. While the Surface that's been reported to have sold out doesn't reportedly have an Intel chip in it, the Surface for Windows 8, which many expect will soon be available, will have the Intel Core i5 processor in it. So today's news doesn't really add to Intel's bottom line, but it shows that the current Surface has demand, and investors are hoping that rolls into the Windows 8 model. Intel was the Dow's biggest winner, up 0.61%.
