Cisco Systems, Inc. (CSCO), Microsoft Corporation (MSFT), JPMorgan Chase & Co. (JPM): Three Stocks Driving Stock Markets to New Highs

JPMorgan Chase & Co. (NYSE:JPM) rounds out the top three Dow stocks after a 6.8% gain this week. Early this week, hedge fund manager David Tepper sent banking stocks higher when he said he sees a very bullish case for the stock market. He also said he owns shares of Citigroup Inc (NYSE:C), Bank of America Corp (NYSE:BAC), and JPMorgan Chase & Co. (NYSE:JPM), so the whole banking sector shot higher. As the week moved on, investors began to bet that Jamie Dimon wouldn’t have his roles as CEO and chairman split in a shareholder vote next week. One of T. Rowe Price Associates’ largest stock funds said it will vote against the proposal, and other funds in the family may follow suit.

The market may want Dimon to keep both jobs, but it’s always good to have checks and balances in a company. The board of directors is meant to watch over the company’s direction and keep an eye on the management team, something that’s hard to do when one person is the CEO and head of the board. Next Tuesday we’ll find out if Dimon will keep both roles, but this Fool thinks all companies should split the roles into two jobs.

The article 3 Stocks Driving Stock Markets to New Highs originally appeared on Fool.com and is written by Travis Hoium.

Fool contributor Travis Hoium manages an account that owns shares of Microsoft. The Motley Fool recommends Cisco Systems (NASDAQ:CSCO) and owns shares of Bank of America, Citigroup, JPMorgan Chase, and Microsoft.

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