3 Dow Component Stocks Riding the Wave
The Dow Jones Industrial Average (NYSE:DIA) is up today 0.06% and stands at 11,403. The large stocks below are among the positive performers today.
Bank of America (NYSE:BAC): Bank of America made $6.2 billion in profits in the third quarter. This exceeded expectations and propelled the stock up further. A lot of this profit occurred through accounting mechanisms, the sale of a Chinese bank, pre-tax and several one-time charges. Bank of America is still susceptible to global economic woes and its large overhang of housing assets. The stock is up 6.55%.
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JP Morgan Chase (NYSE:JPM): Lending actually increased for JP Morgan and other banks during the third quarter, and many believe, including Wells Fargo CFO Timothy Sloan, that lending will only increase going forward. We will see. JP Morgan is up 2.05%.
General Electric (NYSE:GE): GE is up in part because of economic data from China. Many commentators reject data that comes from Beijing. They are right to be skeptical. But on another level, China’s growth will only propel companies like GE for decades. The stock is up 1.32%. Don’t Miss: General Electric Company Third Quarter Earnings Sneak Peek.
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