Can the Dow Jones Industrial Average (DJINDICES:^DJI) make up any ground this week? So far the index has looked hesitant to do so, as the Dow sits flat with a marginal gain of just two points. Earnings season hasn't been very kind to the markets so far this quarter, but one household Dow name has pulled off some nice gains today despite an up-and-down earnings report. From that to another stock falling from the sky today, let's see why the Dow can't manage to really break into the green.
Up and down
The market started off with a bang this morning on positive economic data. News that U.S. durable-goods orders jumped 10% sent the Dow rising quickly, but alas; it wasn't meant to be. Renewed economic fears over the draconian budget cuts comprising the "fiscal cliff" -- and a lack of confidence that the government will find a solution in time to prevent it -- continue to swirl around the markets. Between this and a downbeat earnings season, the macroeconomic environment isn't being too kind to Wall Street right now.
Fortunately, one stock has made the most of earnings season today. Consumer goods staple Proctor & Gamble (NYSE:PG) saw earnings drop almost 7% (when including exceptional items) for the quarter, but that didn't stop the stock from leading all Dow members up. So far, P&G has risen more than 3% to maintain a huge lead over the other Dow components today. Core earnings excluding one-time costs managed to beat estimates, overshadowing the other, declining numbers.
The tech sector has also performed well today. Dow tech members Hewlett-Packard (NYSE:HPQ) and Intel (NASDAQ:INTC) have both picked up gains, rising 1.2% and 0.8%, respectively. With the release of Microsoft's (NASDAQ: MSFT) Windows 8 here at last, computer -oriented companies have finally found a little reason to celebrate after being massacred by mobile recently. Still, HP has fallen more than 15% over the past month, and Intel is trading near a 52-week low. Microsoft also rose with the tech wave today, experiencing a minor 0.1% boost.
Riding a bumpy road
Moving on to the losers, aerospace giant Boeing (NYSE:BA) has really taken a beating today. With reduced passenger travel a concern, some investors are fearful that a slowdown in air travel could hurt Boeing's future orders. So far, the stock has lost about 2.7% for the day to lead all Dow laggards.
Dan Carroll has no positions in the stocks mentioned above. The Motley Fool owns shares of Intel and Microsoft. Motley Fool newsletter services recommend Intel, Microsoft, and The Procter & Gamble Company. 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.