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

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 World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

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

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!