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Dow Soars to New All-Time High with Nearly All Components Trading in the Green

That Dow Jones Industrial Average broke its all-time high during Tuesday’s trading was not exactly a surprise. Indeed, it had been anticipated for at least a few days, if not longer. The mid-day
Michael Teague is a staff writer for Equities.com. His previous experience includes three years as the associate editor of Los Angeles-based Al Jadid Magazine, a bi-annual review of the arts & culture of the Middle East, where he contributed many articles on the region in the form of features and book & film reviews. His educational background includes a BA in French literature from the University of California, Irvine, where he developed a startling proclivity for anything having to do with the 19th century.
Michael Teague is a staff writer for Equities.com. His previous experience includes three years as the associate editor of Los Angeles-based Al Jadid Magazine, a bi-annual review of the arts & culture of the Middle East, where he contributed many articles on the region in the form of features and book & film reviews. His educational background includes a BA in French literature from the University of California, Irvine, where he developed a startling proclivity for anything having to do with the 19th century.

That Dow Jones Industrial Average broke its all-time high during Tuesday’s trading was not exactly a surprise. Indeed, it had been anticipated for at least a few days, if not longer. The mid-day high of 14,286.37 eclipses the previous record that was set on October 9, 2007, when the DIJA closed at 14,164.

Of the 30 stocks on the index, 28 are currently trading in the green: Hewlett Packard Company (HPQ) leads the way with a near 3-percent at $20.57 per share, aerospace company United Technologies Corp. (UTX) is up 2.27 percent at $91.15 per share, Boeing Co. (BA) is up 1.40 percent to $78.17 per share, International Business Machines Corp. (IBM) is up 0.82 percent to $206.88 per share, Cisco Systems Inc. (CSCO) is up 2.22 percent to $21.20 per share, Bank of America Corp. (BAC) is up 1.88 percent to $11.63 per share, 3M Co. (MMM) is up 1.46 percent to $104.79 per share, and Caterpillar (CAT) regained on its losses yesterday, up 1.19 percent to $90.82 per share.

The Dow’s surge Tuesday comes in the face of several economic uncertainties. On Friday, not only did the dreaded sequestration go into effect–the whole drama is still more or less unresolved, with neither party in Washington putting a viable proposal to deal with or avert automatic spending cuts on the table.  On top of that, Friday also saw the Chinese government announcing new restrictions on home buying that had the markets the world over biting their nails.

Furthermore, the economic recovery that has been taking place in the United States has been spoken of almost invariably with caution. There has been a unanimous “wait-and-see” attitude, even in the previously lowly housing market where solid numbers would otherwise seem to permit an optimistic outlook.

Other movers on the Dow today include Exxon Mobil Corp. (XOM) up 1.24 percent to $90.82, Walt Disney Co. (DIS) up 1.17 percent to $56.46, Verizon Communications Inc. (VZ) up 0.96 percent to $47.56, and Pfizer Inc. (PFE), up 1.53 percent to $28.11 per share. The two biggest laggards on the day thus far are Merk & Co. (MRK) and The Coca-Cola Co. (KO).