Dow Heads Skyward on Good News: Hewlett-Packard Company (HPQ), Intel Corporation (INTC)

Page 1 of 2

Maybe it’s a Friday thing. After hitting the 14,000 mark last Friday, the Dow Jones Industrial Average experienced big ups and downs throughout this week. And though it opened flat this morning, it jumped minutes later and hasn’t looked back. Passing the 14,000 mark yet again, the Dow was hovering there for more than an hour before falling below it shortly after 11 a.m. — but it’s anyone’s guess if it will break the mark once again before closing bell. If the good news released this morning from our government and the EU are any indicators, the Dow might have a good chance of doing so.

Hewlett-Packard Company (NYSE:HPQ)Good news
The Commerce Department’s announcement that the country’s trade deficit has shrunk during the month of December was expected. What was not expected was the degree to which it shrank — December’s deficit is the narrowest this country has seen in three years. While analysts expected $46 billion, the actual number ($38.5 billion) suggests that the economy performed much better than we thought during the fourth quarter of 2012. These numbers could result in a revision of the GDP numbers released last week, which disappointed many.

And from across the pond, it was announced that the European Union has agreed to a budget deal after overnight meetings. The European markets were up after the news.

More good news
The tech sector is getting some love from the Dow, as Hewlett-Packard Company (NYSE:HPQ), Intel Corporation (NASDAQ:INTC), and Microsoft Corporation (NASDAQ:MSFT) have all had good boosts this morning.

HP announced that it would be stepping up oversight on its Chinese suppliers, who often take advantage of student and temporary workers. According to HP’s proposed action, students from vocational schools will be limited in their suppliers’ workforce, must work in an area relevant to their study, and be allowed to leave without penalty after giving reasonable notice. Though some question the efficacy of these new proposals, HP will begin requesting information and auditing its suppliers on a more frequent basis. This announcement comes before the July 1 enactment of a Chinese amendment aimed at protecting student and temporary workers.

Intel has had a few news mentions this morning. The semiconductor giant has invested another $6.5 million in network virtualization start-up Big Switch. The purpose of Big Switch is to develop software-defined networking, which would allow software to control networks and replace some of the functions in traditional routers and switches. This new focus is supposedly a big threat to Cisco Systems, Inc. (NASDAQ:CSCO)‘s current hold on the router and switch market. In other news, Asus has revealed a new phablet (phone-tablet) that centers around an Intel Atom processor with Imagination PowerVR SGX540 graphics. The Asus MeMO Pad would be aimed at the Google Inc (NASDAQ:GOOG) Nexus 7′s market share.

Page 1 of 2
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

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

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!