Japan, Major Announcements Drive Dow Thursday

Before you go, we thought you'd like these...
Before you go close icon

Providing yet another reminder of how interconnected global markets are, U.S. stocks advanced today on news of a proposed $1.4 trillion injection into Japan's economy by the country's central bank. This is notable because the move nearly doubles Japan's monetary base by the end of next year. As a result, Wall Street is optimistic that the stimulus can help Japan emerge from 20 years of minimal growth. The Dow Jones Industrial Average  which added 55 points, or 0.4%, also saw a few big-time announcements from its components, and ended the day at 14,606.

Rebounding from a steep decline in the prior three trading days, Hewlett-Packard shares rose 1.8% today to lead the index. HP had fallen in recent days on analyst sentiment that the stock was overvalued after a huge run-up in 2013 -- its meteoric 56% rise this year still tops the index by far. The biggest news from HP actually came after the markets closed: the chairman of HP's board, Raymond Lane, is giving up his leadership position. Two other board members are resigning, making for an uncertain future at the top of the company. 

International Business Machines slipped 0.6%, to end as one of the weakest blue chips today. Its decline, though hardly extreme and not substantiated by any major revelations, comes as Big Blue defends itself against claims from rival server manufacturer Oracle . IBM rushed to combat various assertions from Oracle that IBM's server offerings are slower than Oracle's, claiming that the comparisons used outdated IBM products.


But, by far, the biggest news out of the Dow today came from AT&T . Taking the stage with Facebook's Mark Zuckerberg, AT&T Mobility CEO Ralph de la Vega excitedly announced that AT&T would be the exclusive service provider on the new HTC First smartphone. The First will indeed be the first smartphone that's built with Facebook's new Home interface to hit the markets, and could be a big win for the service provider. For Facebook, today marked a new era in the company's quest to integrate social media with mobile devices.

After the world's most-hyped IPO turned out to be a dunce, most investors probably don't even want to think about shares of Facebook. But there are things every investor needs to know about this company. We've outlined them in our newest premium research report. There's a lot more to Facebook than meets the eye, so read up on whether there is anything to "like" about it today, and we'll tell you whether we think Facebook deserves a place in your portfolio. Access your report by clicking here.

The article Japan, Major Announcements Drive Dow Thursday originally appeared on Fool.com.

Fool contributor John Divine has no position in any stocks mentioned. You can follow him on Twitter @divinebizkid and on Motley Fool CAPS @TMFDivine.The Motley Fool recommends Facebook. The Motley Fool owns shares of Facebook, International Business Machines, and Oracle. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners