Merck & Co., Inc. (MRK), Intel Corporation (INTC): Dow Fights to Keep Tuesday Winning Streak Alive

Investors received a little good news and a little better-than-expected news today. According to Core Logic, housing prices were 12.1% higher in April 2013 than they were during April of last year. This is just another indication that the housing market is recovering nicely at this time. In other economic news, the U.S. trade deficit widened in April, but less than expected. Economists were predicting the deficit to hit $41.1 billion, but it came in at $40.3 billion.

And with that news, as of 11:45 a.m. EDT the Dow Jones Industrial Average is trading lower by 9 points or 0.06%. If the index can’t manage to close positive today, it will break a winning streak that has been going for the past 20 weeks. The Dow has closed higher for the past 20 Tuesdays, and it looks as if that run may come to an end today.

Merck & Co., Inc. (NYSE:MRK)

Yesterday’s big Dow winners seem as if they will contend to be today’s winners also. Shares of Merck & Co., Inc. (NYSE:MRK) are up 2.03% while Intel Corporation (NASDAQ:INTC) has risen 1.98%. Merck recently received very positive news pertaining to a developmental treatment for cancer. The drug, called lambrolizumab, has been able to reduce the size of tumors in 38% of the patients who took the medication. That may not sound like a big success rate, but those in the medical field are very excited about this drug.

Intel Corporation (NASDAQ:INTC) also recently received good news. The company’s chip will be used in the newest Samsung Galaxy tablet, a position that Intel Corporation (NASDAQ:INTC) has been fighting to get and a sign that the dominant PC chip maker can convert to mobile. This announcement prompted an analyst to upgrade the stock and change the price target to $28 per share.

Two of the Dow’s biggest losers today are Chevron Corporation (NYSE:CVX) and Exxon Mobil Corporation (NYSE:XOM), which are down 0.98% and 0.68%, respectively. Both companies may be feeling some downward pressure due to lower crude prices today and a report from Barclays that energy exploration and production spending will be higher than expected at the beginning of the year. Crude is currently down 0.81%, but with increased spending on exploration, the market could be hit with an oversupply problem in the coming years if large oil fields are found. That would send the price of crude down even more, which would ultimately hurt the big oil companies’ bottom lines.

The article Dow Fights to Keep Tuesday Winning Streak Alive originally appeared on Fool.com.

Fool contributor Matt Thalman has no position in any stocks mentioned. The Motley Fool recommends Chevron and Intel. The Motley Fool owns shares of Intel. 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.

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!