Bulls Lead the Charge on Election Day
It's Election Day, and markets are in a surprisingly cheerful mood. With 40 minutes left in trading, the Dow Jones Industrial Average (INDEX: ^DJI) is up 1%, and the S&P 500 (INDEX: ^GSPC) has moved 0.8% higher. There isn't any major economic news driving stocks higher, but investors are probably relieved that we're closer to finding out what our fiscal future looks like.
On the company level, Boeing (NYS: BA) jumped 2.4% today after Aeromexico finalized an order for 60 737s, with an option to buy another 30 planes. The order is valued at about $6 billion.
United Technologies (NYS: UTX) rose 2.8% in a steady climb after announcing it had prepaid $1 billion of debt it took on to purchase Goodrich. This was half of the cash borrowed for the acquisition, and I'll always cheer a company paying off debt early.
The only loser for the moment on the Dow is Intel (NAS: INTC) , which has fallen 0.4%. Bloomberg reported late Monday that Apple (NAS: AAPL) may switch from Intel's chips to internally designed chips for Macs sometime in the future. The move may be years off, but it still has investors a bit uneasy about Intel today. Find out if Intel is a dud or a bargain waiting to be pounced on in our premium report on the stock.
Oil and gold have also had big run-ups today. Oil has gained 3.1% and is currently trading above $88 per barrel, while gold has jumped 1.8% on the day. It looks like investors are buying anything they can get their hands on today.
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The article Bulls Lead the Charge on Election Day originally appeared on Fool.com.
Fool contributor Travis Hoium manages an account that owns shares of Intel. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw. The Motley Fool owns shares of Apple and Intel. Motley Fool newsletter services recommend Apple and Intel. 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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