The Dow’s Winning Streak Continues: Hewlett-Packard Company (HPQ), Wal-Mart Stores, Inc. (WMT)

Page 1 of 2

March has been good to blue-chip stocks. Since the beginning of the month, the Dow Jones Industrial Average has closed higher in every trading session. Assuming it does so again today, that will make it 10 straight days of gains. According to Yahoo! Finance, that adds up to the Dow’s longest winning streak since 1996. As of 2:55 p.m. EDT, the Dow is up 60 points, or 0.4%.

Wal-Mart Stores, Inc (NYSE:WMT)Today’s rally was fueled by news that the employment picture is continuing to improve. The Department of Labor reported this morning that the number of Americans filing for unemployment benefits last week fell by 10,000 to a seasonally adjusted 332,000. The median estimate of economist surveyed by Bloomberg predicted an increase to 350,000. According to The Wall Street Journal, it’s generally held among economists that the labor market is improving when claims are below 400,000.

In terms of individual stocks, technology giants Hewlett-Packard Company (NYSE:HPQ) and International Business Machines Corp. (NYSE:IBM) are leading the Dow higher in afternoon trading, up 2% and 1.6%, respectively. As my colleague Dan Dzombak noted earlier, the British Serious Fraud Office recently opened an investigation into Hewlett-Packard Company (NYSE:HPQ)’s claims that U.K.-based Autonomy defrauded HP into acquiring the software company. Meanwhile, as fellow Fool Jessica Alling pointed out, International Business Machines Corp. is riding the waves of positive publicity related to its work for the city of Boston. In addition, International Business Machines Corp. (NYSE:IBM)’s strong presence in cloud computing and data analytics has positioned it well to exploit the opportunities that will inevitably spring up in the sector.

Heading lower, alternatively, are shares of retailing giants Wal-Mart Stores, Inc. (NYSE:WMT) and The Home Depot, Inc. (NYSE:HD). Because there doesn’t seem to be a specific impetus for either of these companies being down today, it’s possible that they’re suffering by association with the likes of J.C. Penney Company, Inc. (NYSE:JCP) and Sears Holdings Corporation (NASDAQ:SHLD), two failing industry giants. As three of our top analysts discussed earlier today, the former is hanging to life by a thread, while the latter is doing only marginally better.

Page 1 of 2
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 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

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!