How GE Pushed the Dow to a 5-Year High
Feb 19th 2013 8:00PM
Updated Feb 19th 2013 8:05PM
Another day, another multiyear closing high for the markets.
Despite continuing issues on Capitol Hill, ongoing economic pressure in the Eurozone, and the threat of currency wars starting to get much more serious, enthusiasm about stocks pushed the Dow Jones Industrials to its best close since late 2007, as it finished up 54 points to jump above the 14,000 level once more.
The S&P 500 also hit a five-year closing high, while the Nasdaq Composite has long since eclipsed its levels in 2007 and is now setting highs not seen since the early stages of the tech bust in 2001.
Within the Dow, General Electric was one of the top gainers in the average, rising about 2%. Although the conglomerate's industrial segments have gotten the lion's share of investor attention lately, GE reminded investors of the broad scope of its business today, as it announced that its health-care unit would expand an existing partnership with ServiceSource to include the Japanese health-care market. Combined with plans to invest $300 million in Indonesia, GE is targeting Asia as a major source of growth.
Elsewhere, SunPower climbed another 17%, adding to huge recent gains. As Fool solar expert Travis Hoium observed last week, the economics of the industry are starting to get much more viable, and once the industry goes through some much-needed consolidation, leaders like SunPower should be poised to take full advantage of the high-growth potential of solar energy.
Finally, Express Scripts climbed 2.5% after announcing better-than-expected earnings results in its latest quarterly report. Investors also celebrated positive earnings guidance for the year, and more importantly, the company doesn't see the new health-insurance exchanges under Obamacare having a material impact on its customers. Some have feared that businesses would stop offering health insurance and instead turn workers to exchanges, which could hurt Express Scripts' pharmacy benefit relationships with employers.
Can GE keep shining?
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The article How GE Pushed the Dow to a 5-Year High originally appeared on Fool.com.Fool contributor Dan Caplinger has no position in any stocks mentioned. You can follow him on Twitter @DanCaplinger. The Motley Fool recommends and owns shares of Express Scripts. It also owns shares of General Electric. 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.
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