Why the Dow Rose Despite 1 Stock's Huge Fall
It was an up and down day for the Dow Jones Industrial Average, which tracked back and forth between positive and negative territory to finally finish up just 0.09%. A positive report from ADP Employer Services showed that employers added 162,000 jobs in the U.S. in September, higher than expectations. An encouraging report on the U.S. services industry was also released today, though data from China helped dampen the mood on Wall Street.
Individually, 2012's worst Dow stock, Hewlett-Packard, continued its terrible run, losing a whopping 13% today after releasing a highly disappointing fiscal 2013 forecast. The stock closed at a nine-year low. Outside the Dow, automaker GM rose 3% today and has now jumped more than 7% in just three days this week. The stock was helped up by investor David Einhorn's comments at the Value Investing Congress touting GM as a cheap stock. Check out the following video for more on what drove markets today, and how individual stocks fared.
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