Blue Chips Bring Dow Higher

Earnings from blue chip companies are helping drive the Dow higher today. Indeed, the surprising earnings have been helping blue chip stocks, while the Nasdaq drops and the S&P 500 struggles. Of course, it is worth noting that the Dow Jones Industrial Average only includes 30 companies. If those companies are all reporting pretty decent earnings, it is bound to help matters.

This is happening even as unemployment continues to rise. But, with earnings in focus, it is little surprise that unemployment isn’t doing much to slow down the Dow. The fact that there are fewer works to be paid is working for companies that are looking for ways to boost the bottom line.

It’s a very interesting day, since equities in Europe and Asia had a complete rout. And only the Dow is moving upward with any sort of confidence. It really gives one an idea of the scope of the large companies that make up the Dow, and the effect that earnings data has on them, in terms of the way investors see them.

Image source: mag3737 via Flickr