Investor Ideas Snapshot; Dow Continues High Streak
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Point Roberts, WA - March 7, 2013 (www.investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors reports on the DOW Jones Industrial Average for March 7th, 2013.
The Dow Jones Industrial Average (^DJI) continues its upward streak, trading up $47.60 or 0.33% at $14,343.84 as of Thursday, Mar 7 th, 2013. During this time, 230.9 million shares of the 30 Dow components have changed hands versus the average daily trading volume of 620.2 million.
Now that the Dow Jones Industrial Average (has broken the $14,300 barrier many are asking: Where will it stop? With many investors hitting the market on DOW's rise, it remains up to the index's components to keep it afloat, which they continue to do with yesterday being a positive day for tech stocks, and today showing positives for the financials sector.
One of the major Dow components leading the way higher looks is Bank of America Corporation (NYSE:BAC), with a gain of $0.28 or 2.39%, bringing the stock up to $12.20. This single gain is lifting the Dow Jones Industrial Average by 1.97 points or 4.7% of the Dow's overall gain. Volume for Bank of America Corporation currently sits at 96 million shares traded, much lower than an average daily trading volume of 163.4 million shares.
JPMorgan (NYSE:JPM) is also up today, trading at $50.64 and gaining $0.61 or 1.22% to help the Dow see new heights. JPMorgan was one of the only banks to make it through the financial crisis largely unscathed, and though it has had its problems since then, it is expected to pass the Fed's stress test.
Today is the third day in a row where the DOW has continued to hit new highs and many analysts have begun updating the stocks from "hold" to "buy" as it is expected the index will continue to rise through the end of the week.
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