The Dow Jones Industrials (INDEX: ^DJI) closed the day with a strong rally as news enticed investors to swoop up equities with expectations that the Federal Reserve could apply another round of quantitative easing when it meets next week. Today's top performers were the volatile and economically sensitive companies that were heavily sold on eurozone economic woes.
Gain/ Loss %
Dow Jones Industrials
Source: Yahoo! Finance.
The broad markets enjoyed an impressive day, but this rally isn't the beginning of a round of steady gains. Next week will probably be one of the more volatile we've seen this year, as the Greek election could ignite a fire under the eurozone's economic problems.
Blue chips had an exceptional day. In fact, aside from United Technologies (NYS: UTX) , every Dow component was in the green. Boeing (NYS: BA) was the head of the class today, up 3.52% as the aircraft manufacturer received an upgrade from Bernstein Research, which upped its valuation because of an improved outlook for new Dreamliner sales.
Financials also significantly topped the markets today, with Bank of America (NYS: BAC) and JPMorgan Chase (NYS: JPM) accumulating 2.9% apiece. JPMorgan CEO Jamie Dimon said the bank expects "solid profits" this quarter, ahead of his Senate hearing on his firm's $2 billion trading loss.
The good news is that once again the Dow turned in a solid performance. However, we can't forget that Europe is still in a perilous state. To stabilize the market for a long bull run, the Fed and their counterparts in the European Central Bank need to take measures to help the markets brave the upcoming storms. The problems are complex and the treatment is supplied in small doses, so expect some turbulence on the way. With increased instability expected in the market, now is a great time to check out The Motley Fool's special report describing 3 Stocks That Will Help You Retire Rich. This free report will list three remarkable companies as well as offer great advice on how to invest to secure a comfortable retirement -- get your free report now.
At the time thisarticle was published Joel South owns shares of no company listed above. The Motley Fool has adisclosure policy. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days.
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