Twenty-seven of the Dow components are down. And, three are playing defense in an brutal market: Coca-Cola (KO), GE (GE), and Caterpillar (CAT). Each of these is up a modest amount.
With the DJIA off over 200 points, financial stocks in the index are taking on more water. AIG (AIG) is off almost 8%. Bank of America (BAC) is down almost 7%. Boeing (BA) is off nearly 5%, even after an upbeat forecast about its next 20 year prospects.
Coke should be holding its own. Most of what it sells is inexpensive, global, and easy for the consumer to find. Its balance sheet is as good as any. If earnings suffer, the ding will be minor.
GE (GE) disappointed some investors today, but, it held its full-year forecast, something which a number of companies may not be able to do.
Caterpillar (CAT) may be an odd stock to be rising on a hard day. Industrial equipment can be cyclical, but the firm says that the demand for its products is unusually strong overseas.
The few stocks which are up today are likely to hold well if the market continues its slide.
Douglas A. McIntyre
Are You Ahead, or Behind on Retirement? (sponsor)
If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention.
Finding a financial advisor who puts your interest first can be the difference between a rich retirement and barely getting by, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors that serve your area in minutes. Each advisor has been carefully vetted, and must act in your best interests. Start your search now.
Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.