What Drove the Dow's Monster Gain
Today, industrials editor and analyst Brendan Byrnes discusses the Dow's huge 212 point gain. News from Europe was the main driver of the Dow's surge, as investors approved of comments made by the European Central Bank President Mario Draghi that the central bank would do whatever it takes to preserve the eurozone. Positive domestic data helped, as well, with U.S. weekly jobless claims falling more than expected, and June durable goods orders coming in higher than expected.
|Dow Jones Industrial Average||211.88 [1.67%]||12,887.93|
|S&P 500||33.12 [1.65%]||1,360.02|
As for individual stocks, Home Depot was the Dow's biggest gainer, buoyed by positive signs from the housing sector. American Express was the second best Dow stock today, erasing most of last week's losses when the company reported disappointing earnings. Check out the video below for more on what drove the Dow today, and which individual stocks were winners and losers.
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The article What Drove the Dow's Monster Gain originally appeared on Fool.com.Brendan Byrnes owns no shares of any company mentioned above. The Motley Fool owns shares of Facebook and Cisco Systems. The Fool has created a bear call spread position in American Express.Motley Fool newsletter serviceshave recommended buying shares of The Home Depot.Motley Fool newsletter serviceshave recommended creating a write covered strangle position in American Express. The Motley Fool has adisclosure policy. We Fools may not 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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