Why the Dow Is Rallying Today
The Dow Jones Industrial Average (INDEX: ^DJI) is rallying today along with worldwide markets as China reported slowing GDP growth, leading many to believe Chinese monetary policy will ease. At 1:30 p.m. EST, the Dow was up 87 points to 12,519. The S&P 500 was up nine points to 1,298.
In the fourth quarter, China's GDP rose 8.9%, its slowest rate in more than two years. Faster growth in China would be a boon to today's leading Dow stock, United Technologies (NYS: UTX) . The company is leading the pack, up 1.87% to $77.50. Last year, United Technologies got 17% of its operating profit from the Asia-Pacific region. The company reports earnings next Wednesday, and analysts expect it to report earnings per share of $1.46.
Following closely behind it is Boeing (NYS: BA) , up 1.54% to $75.75. While Airbus delivered more planes than Boeing this year -- 534 compared with 477 -- 2012 should be a more balanced year between the two jet manufacturers.
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At the time this article was published Dan Dzombak holds no position in any company mentioned. Click here to see his holdings and a short bio. 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.
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