NASDAQ Wins the Day, but the Dow and S&P 500 Set New Records
As the S&P 500 and the Dow Jones Industrial Average set new record intraday highs, investors seem to have a lot to celebrate. As of 12:45 p.m. EDT the major indexes are all moving higher. The Dow is up 142 points, or 0.97%, to 14,816. The S&P 500 is up 1.22% to 1,588, but the NASDAQ has risen the most, up 1.8%.
Big technology stocks have pushed not only the NASDAQ higher today, but also the Dow. And at the time of writing, only two of the Dow's 30 stocks are trading lower: Wal-Mart and Travelers .
Wal-Mart has lost 0.36% of its value on little negative news. The company faces a number of legal issues, and officials reported today that an investigation into Wal-Mart's lobbying for entry into India will be completed by June. This investigations stems from a bribery scandal that started in Mexico and then spread to other countries around the world.
Although the company has been plagued by poor news over the past six months, the stock is still up 14% year to date, while the Dow has risen about 13%.
One of the Dow's big winners this year is Travelers, which has risen 18.1% in 2013. However, shares have dropped 0.4% today. Yesterday Travelers CEO Jay Fishman said his company needs to stop making excuses about the frequency of natural disasters and low bond yields. Fishman further said the company had embarked on a "carefully calibrated strategy of selectively but actively raising rates." This should give investors confidence that the company will be able to weather future storms while maintaining profitability in the long the run.
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The article NASDAQ Wins the Day, but the Dow and S&P 500 Set New Records originally appeared on Fool.com.
Fool contributor Matt Thalman has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Check back Monday through Friday as Matt explains what caused the Dow's winners and losers of the day, and every Saturday for a weekly recap. Follow Matt on Twitter: @mthalman5513. 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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