Stocks Lose Ground This Week After Election
It was a rough week for stocks. On Wednesday, the markets crashed after Mario Draghi said the situation in Europe was even worse than expected, and the fall continued on Thursday, sealing a down week for the market. When it was all over, the Dow Jones Industrial Average (INDEX: ^DJI) fell 2.1% and the S&P 500 (INDEX: ^GSPC) lost 2.4% this week.
Interestingly enough, there was only one stock on the Dow that gained ground this week. Boeing (NYS: BA) jumped 5.2% on a number of positive news items. On Monday, the stock rose because the company signed a $1.4 billion deal to supply 15 CH-47F Chinook helicopters to the Indian military. On Wednesday, the company said it will restructure its Defense, Space, and Security division in an effort to save $1.6 billion over the next two years. Finally, on Friday, Boeing confirmed an order of 20 737 Max aircraft from ALAFCO and said it had reached 1,000 orders for the year. All in all, it was a great week for Boeing.
Of the other 29 Dow stocks, 3M (NYS: MMM) and Wal-Mart (NYS: WMT) were the two closest to gains, losing just 0.2% and 0.6%, respectively. There wasn't anything earth-shattering out of either company, but with investors running to safety this week, these two stocks did better than most.
Since we're now through third-quarter earnings season and the election, investors will be turning most of their attention to the pending "fiscal cliff" and negotiations between the president and Congress. Buckle up for a wild ride, because stocks, bonds, and commodities will probably swing up and down for the next two months depending on the mood in Washington.
Volatility will be the short-term norm, but a solution to the "fiscal cliff" could bring on a bull run for stocks. If you're looking for some long-term investing ideas, read the Fool's brand-new special report: "The 3 Dow Stocks Dividend Investors Need." It's absolutely free, so just click here and get your copy today.
The article Stocks Lose Ground This Week After Election originally appeared on Fool.com.Fool contributor Travis Hoium has no positions in the stocks mentioned above. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his CAPS picks at TMFFlushDraw. The Motley Fool has no positions in the stocks mentioned above. Motley Fool newsletter services recommend 3M. 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.