Dow Hits 14,000 and Keeps On Going: American International Group, Inc. (AIG) and More

Page 1 of 2

See what a nice three-day weekend can do for one’s well-being? After the President’s Day holiday, the Dow Jones Industrial Average is stretching its legs this morning. Hitting well above the 14,000 mark shortly after the opening bell, the index is hovering around a 45-point gain as of this writing. The index is getting closer to its 2007 record close of 14,163 — another benchmark for investors to watch in the coming days and weeks.

Investor confidence may be up following some news from Europe. The German economy is gaining steam, with the ZEW economic sentiment index reaching 48.2 in February, a 34-month high. European markets gained on the news, with indexes in Germany, France, and Britain up 1%.

Dow Jones Industrial Average 2 Minute (INDEXDJX:^DJI)We also have quite a lineup of company earnings releases today, which will fuel more trading during this short week. Scheduled to release earnings after the closing bell, Hewlett-Packard Company (NYSE:HPQ) is up 2% in trading this morning. The beleaguered tech company is reporting first-quarter earnings, and so far Wall Street isn’t expecting much. But investors may be banking on the company’s past earnings surprises — it beat analyst estimates in the past four quarters. So as bears sell off shares today, bulls may be scooping them up with expectations of a big earnings win. And that may not be so hard to do — analysts are expecting the PC maker to report huge drops in both revenue and earnings, with the latter expected to decline 22%.

Bank of America Corp (NYSE:BAC) is also leading the pack today in winning Dow components, up 1.7% so far today. The bank has been getting some good press so far in this short week of trading. After court documents were released last week, it’s been noted that the Federal Reserve put its weight behind B of A in the legal fight between the bank and insurance giant American International Group, Inc. (NYSE:AIG). Seeking $7 billion in damages, American International Group, Inc. (NYSE:AIG) is still trying to recover losses from mortgage-backed securities it insured that were not of the quality banks like BAC had represented them to be. Bank of America also got some good news when regional bank Arvest Bank received regulatory approval to purchase 29 of the big bank’s branches. The sale will move forward, with Arvest beginning its rebranding of the branches next month. The bank also recorded a mark in the win column for record growth of its commercial bank 401(k) business — it had a 28% increase from 2011.

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 Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

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!