Yawn -- another day, another record high close for the Dow Jones Industrial Average (^DJI 0.40%). Despite early data from China that disappointed Wall Street, markets rallied back to continue a remarkable bull run as a prominent measure of volatility registered its lowest reading in more than five years. Adding 50 points, or 0.35%, to close at 14,447, the Dow ended Monday at a new record, its fifth record close in as many days.
A major reason behind the rise, Boeing (BA 0.25%) added 2.1% on reports that the aerospace mainstay has a surefire fix in the mix for safety issues with its 787 Dreamliner. The issues go back to the beginning of the year, when a fire erupted on a Dreamliner aircraft that touched down in Boston. The comments today from Boeing executive Randy Tinseth, who also said the company was boosting production, rallied both Boeing and the Dow. Boeing's daily swings, as the index's ninth heaviest weighted component, meaningfully sway the Dow's performance.
Lest we get complacent with what seems to be nothing but good news, General Electric (GE 0.68%) assumes the important role of bringing us down to Earth today, falling 0.6%. Despite nominating former SEC Chairman Mary Schapiro to its board of directors, comments from CEO Jeff Immelt saying domestic fiscal uncertainty would stem meaningful capital spending sent shares lower today.
Shareholders cheered the news today from VeriFone Systems (PAY), which added as much as 8% after hours after announcing CEO Douglas Bergeron is stepping down. The fact that the stock rose so dramatically on the transition shows that shareholders and the board of directors are on the same page, which is a good place to start for a company that recently cut its first- and second-quarter guidance.
Finally, zooming 10.4% higher Monday, Zynga (ZNGA) shares were some of the hottest in the market, as takeover talk fueled a buying frenzy. Sometimes, like today, all it takes is hypothetical talk from a single analyst to make a stock go crazy. Suggesting Yahoo! might want to acquire the mobile and online gaming company, a Wunderlich Securities analyst got investors seriously considering the lucrative what-if scenario.
