Why the Dow Couldn't Keep Up Today
In today's edition, industrials editor and analyst Brendan Byrnes discusses the Dow's interesting day today. The blue-chip index dropped in early trading on disappointing Japanese export data and more concerns about Greece and a potential new bailout for the country. But the tide started to turn this afternoon, when minutes from the Federal Reserve's July 31-Aug. 1 meeting were released. The minutes indicated that further stimulus action from the Fed is possible "fairly soon." That was enough to drag the S&P 500 into positive territory, though the Dow's comeback fell just short.
Individually, Hewlett-Packard was the biggest loser on the Dow today, dropping 3.6% ahead of earnings. The stock gained some of that back after hours following an earnings report that beat expectations, though revenue was slightly disappointing. Outside the Dow, Zynga rose 10% after being upgraded by JPM Securities. Still, this is a stock that Brendan thinks long-term investors should stay far, far away from. Check out the following video for more on the Dow's day, and which other stocks made headlines today.
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Brendan Byrnes and The Motley Fool have no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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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