These Dow Gainers Don't Care About the Shutdown
Often, the stock market doesn't perform well going into a potentially contentious weekend, as short-term traders don't want to risk keeping their positions with potential problems looming over the nation. Yet even though the government shutdown will inevitably produce substantial debate over the weekend, investors seemed to be optimistic that even small signs of progress could lead to a resolution in short order. The Dow Jones Industrials finished the day up 76 points, cutting its overall losses for the week.
Looking at the stocks that powered the Dow higher, you can see that they all have long-term prospects that should be strong enough to overcome any near-term obstacles. Disney was the biggest gainer in the Dow, climbing 2%. The company's stranglehold on various forms of media, including its ESPN network and its filmed-entertainment production divisions, will continue offering huge growth opportunities as demand for content climbs ever higher, both in the US and internationally. Combined with its complementary businesses like theme parks based on the very characters featured in their content, cross-selling opportunities should keep Disney rising for years to come.
Boeing gained 1.7% as it delivered 14% more commercial aircraft during the third quarter than it did in the year-ago period. In addition to sending 112 of its 737 aircraft to customers, Boeing managed to almost double deliveries of its 787 Dreamliner. That's especially impressive given the technical troubles that the Dreamliner has had, and Boeing's overall delivery numbers points to huge demand for updated aircraft among airlines and other customers.
JPMorgan Chase rose 1.4%, even in the aftermath of CEO Jamie Dimon deciding to step down from his role as Chairman of its JPMorgan Chase Bank, N.A. subsidiary. Investors likely hope that by appeasing regulators, Dimon's move could lead to reduced legal liability going forward. Any such impact would be welcome for the bank, which has paid huge amounts in settlements of legal and regulatory issues recently.
Finally, beyond the Dow, Potbelly more than doubled after going public at $14, closing at $30.77. The IPO market has shown new signs of health lately, and Potbelly's strong performance today should only add fuel to the fire for those who believe that hunger for new-company equity could push the overall market even higher despite its aging bull character.
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The article These Dow Gainers Don't Care About the Shutdown originally appeared on Fool.com.Fool contributor Dan Caplinger owns warrants on JPMorgan Chase. The Motley Fool recommends Walt Disney. The Motley Fool owns shares of JPMorgan Chase and Walt Disney. 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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