These 4 Stocks are Enjoying the Ride at DOW 14,000
A weaker-than-expected jobs report was not enough to halt the rally in stocks. After posting one of its best months in years, the Dow Jones Industrial Average (NYSEARCA:DIA) managed to crack the 14,000 barrier.
The Dow gained 5.8 percent in January to log its best start to the year since 1994. The momentum seems to be carrying into February. On Friday, the blue-chip index hit as high as 14,019 shortly after the Labor Department said the United States economy added 157,000 jobs in January, below estimates of 166,000. The unemployment rate also ticked slightly higher from 7.8 percent to 7.9 percent.
While the recent data on jobs might appear to be a headwind for the market, it merely means the Federal Reserve will have more reasons to keep quantitative easing and record low interest rates in place.
Here are the four stocks enjoying the ride at Dow 14,000…
JPMorgan Chase (NYSE:JPM):
America’s largest bank by assets increased 2.6 percent over the past week. Shares of JPMorgan have been recovering nicely since the London Whale was captured, and are now at their highest level since April 2011.
In mid-January, the company announced net income climbed 53 percent to $5.69 billion ($1.39 per share) in the fourth quarter, compared to $3.73 billion (90 cents per share) a year earlier.
Jamie Dimon, chief executive officer, explains, “The firm’s results reflected strong underlying performance across virtually all our businesses for the fourth quarter and the full year, with strong lending and deposit growth.”
This company is charging higher…
American Express (NYSE:AXP):
The New York-based credit card company also gained nearly 2 percent on Friday.
Interestingly, the move higher comes after executives sold out of 357,758 shares of the company, totaling more than $21 million, according to Barrons.
This company is treated like a bank…
The technology giant is known for being boring, but safe considering the cash it still manages to rake in each quarter. On Friday, Microsoft shares gained 1.75 percent. However, the stock price is still struggling with the $28 level, its most recent peak made in late January.
Shares of the popular entertainment company increased more than 1 percent Friday. Over the past year, Disney has been one of the best performing stocks in the Dow. Shares hit as high as $54.87, representing a fresh all-time high.
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