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The Daily Dow
LEXINGTON, Ky. (July 12): After the exciting week we've seen (not fun, mind you, but exciting), today ended a little bit calmer for the Dow stocks. A tame wholesale inflation figure this morning did a little to fend off the apocalyptic tone of the last several days.
Nevertheless, today's session was a positive one for the Foolish Four, eking out a gain of 0.05% while the DJIA lost 0.2%. Chevron continued its recent strength, picking up 0.7%, and remains the backbone of the Foolish Four's current market out-performance. Since Chevron is the double-weighted stock in our model (which began in January), its performance has really buoyed the model's overall return.
Kodak recovered a scant 0.9% today after yesterday's thrashing, but that was enough to help the whole basket stay in positive territory for the day. According to CNBC this morning, another Wall Street analyst refuted the reasoning behind Prudential's downgrade yesterday. The press release for the reiteration of the strong buy recommendation hasn't shown up on AOL's news wire yet, but essentially it claimed that Kodak goes through this kind of cycle repeatedly and that the target for this stock is in the neighborhood of $100. Wouldn't that be sweet?
The other two components weighed the portfolio down a bit today. 3M gave up 0.7% and DuPont slid 1.3% on the day.
Since the DJIA's peak near the end of May (closing at 5778), the index has slipped 4.6%. Not the crash a lot of people have been forecasting (at least, not to this point), but it's definitely held up better than has the Nasdaq, which is off nearly 12% since its early June peak.
Enjoy the weekend, Fool!
Transmitted: 7/12/96
Today's Dow Numbers
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