Dow Sets Up for Another Record Close
Mar 11th 2013 3:33PM
Updated Mar 11th 2013 4:50PM
Another day, another record for the Dow Jones Industrial Average , which has recovered early losses to move 0.22% higher as of 3:20 p.m. EDT. The S&P 500 is also up 0.22%, although there was little news driving either index higher today.
On a company-specific level, Boeing has been leading the Dow higher today, jumping 1.9% to a 52-week high. Vice president of marketing Randy Tinseth said the company has found a permanent fix for the 787 Dreamliner's battery problems, and investors are hoping the company will return aircraft to flight soon. I'd rather hear news like this from the engineering team than from marketing, but investors are taking any good news they can get right now.
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American Express is up 1.2% today as investors bet on growing consumer credit in an improving economy. Friday's better-than-expected unemployment numbers and steadily growing consumer credit should be positives for American Express going forward. The big banks are also moving higher today, but American Express is leading the group.
On the downside, General Electric has fallen 0.9% today. The company said it will expand a $1 billion Hudson River cleanup at the request of New York's comptroller. The cost of the expansion is unknown at this point, but the company is halfway to the EPA's initial goal of removing 2.65 million cubic yards of sediment contaminated by GE decades ago. In the long term, this shouldn't have a big impact on the company.
The article Dow Sets Up for Another Record Close originally appeared on Fool.com.Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool recommends American Express. The Motley Fool owns shares of General Electric 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.
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