Count ‘Em: 9 Straight Winning Sessions for the Dow – JPMorgan Chase & Co. (JPM), AT&T Inc. (T)

The Dow Jones Industrial Average‘s winning streak continued today, after the index closed higher by 5.22 points, or 0.04%. The Dow also set a new closing high today, while the S&P 500 and Nasdaq both also closed higher. Finishing up 0.09%, the technology-heavy Nasdaq managed to outperform the Dow, while the S&P 500 rose an even greater 0.13%.

The markets got positive economic data this morning, when the Census Bureau reported that February retail sales rose by 1.1%. Economists had been expecting an increase of just 0.06%. The good data boosted some stocks, but not every industry benefited from the news.

JPMorgan Chase & Co (NYSE:JPM)The Dow’s downers
Shares of the Dow’s big industrial stocks didn’t help the now-nine-day bull rally. Caterpillar Inc. (NYSE:CAT) fell by 0.51%, while Alcoa Inc (NYSE:AA) lost 0.93% of its value. Both companies have lagged behind the blue-chip index thus far in 2013. Year to date, the Dow is up 10.31%, while Caterpillar is down 0.37%, and Alcoa has fallen by 1.61%.

Fears that China’s GDP and overall economic growth are slowing have increased investors’ concerns about these two stocks. But as a number of my colleagues have pointed out, buying when stocks are down and out is usually a winning long-term strategy. Fool Richard Saintvilus also believes that Alcoa’s relationship with China will pay off handsomely in the future years.

Shares of JPMorgan Chase & Co. (NYSE:JPM) fell by 0.24% after it was announced that a number of the company’s executive’s will have to testify before a Senate panel on Friday about the London Whale incident, in which a single trade cost the company billions. One name missing from the list was Jamie Dimon, PMorgan Chase & Co. (NYSE:JPM)’s CEO.

This hearing really has no upside for the company and can only be seen as a negative event. Not only will the bad publicity be a reminder of the bank’s big loss, but these hearings could also lead to tougher regulations on the industry.

Shares of AT&T Inc. (NYSE:T) were down 0.33% when the closing bell rang today. The fall was probably due to the approval of the merger between T-Mobile USA and MetroPCS Communications Inc (NYSE:PCS), the fourth and fifth largest wireless providers in the United States. The union of these two companies should give consumers better wireless options than they had in the past, which could hurt both AT&T Inc. (NYSE:T) and Verizon Communications Inc. (NYSE:VZ), the top two providers in the U.S. by a large margin.

The article Count ‘Em: 9 Straight Winning Sessions for the Dow originally appeared on Fool.com and is written by Matt Thalman.

Fool contributor Matt Thalman and The Motley Fool own shares of JPMorgan Chase. Check back Monday through Friday as Matt explains what caused the Dow’s winners and losers of the day, and every Saturday for a weekly recap. Follow Matt on Twitter: @mthalman5513.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Top Reasons For Getting Fired

The 3 Best States to Start an LLC

10 Jobs That Allow You to Travel

7 High-Paying Jobs You Can Do From Home

12 Best Cities to Shop in USA

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!