The Dow’s Top Stocks on a Record-Setting Day

US – Thanks to a few top stocks, the Dow Jones Industrial Average (DJINDICES: ^DJI) managed to once again set a new all-time closing high at 14,865. Today, the index rose 62 points, or 0.42%, after investors received a better-than-expected jobless claims report, despite a few technology stocks plummeting. The Labor Department reported that initial jobless claims for last week fell by 42,000, to 346,000. Economists were only expecting a decline of 23,000 from the 388,000 claims which were reported two weeks ago.

With the jobless numbers moving in a positive direction, the markets, as a whole, ended the session on a high note. While the Dow was the top index, the S&P 500 managed to rise 0.36%, as the Nasdaq lagged behind, only gaining 0.09%.

The Nasdaq was likely pulled lower by the IDC report, which indicated that PC sales declined 14% during the first quarter of 2013. This report pulled a number of technology stocks lower, but shares of Cisco (NASDAQ: CSCO) slipped away from the downward pressure, and managed to become one of the index’s top stocks. Shares of the networking giant rose 1% during today’s trading session after climbing 2.4% yesterday, and 2% on Tuesday. Today’s move came on very little news, but Cisco certainly is gaining momentum. The company also recently announced a joint project with Microsoft, in which the two will work together to provide data center customers with more functionality and lower complexity. In addition, the two will work together to improve and grow data center operations.

Another top stock today was Chevron (NYSE: CVX) , which saw its shares rise 1.09%. One likely catalyst for the rise was the recent Morgan Stanley report that claimed Chevron would outperform its fellow Dow component and competitor ExxonMobil (NYSE: XOM) by 55% over the next few years. Morgan Stanley believes Chevron could experience higher production growth and realize better returns in the coming years. The firm also raised Chevron’s price target to $135 per share, while reducing Exxon’s to $85 per share.

Click here now  for your   FREE   subscription to   Take Stock Singapore, The Motley Fool’s free investing newsletter. Written by  David Kuo ,   Take Stock Singapore   tells you exactly what’s happening in today’s markets, and shows how you can GROW your wealth in the years ahead.  

Like us on Facebook   to keep up-to-date with our latest news and articles. The Motley Fool’s purpose is to help the world invest, better.

The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. This article was written by Matt Thalman, and originally published on

All information is provided by The Motley Fool Singapore Pte Ltd, a licenced investment advisory research provider (MAS Licence No. FA100056-1). Any information, commentary, recommendations or statements of opinion provided here are for general information purposes only. It is not intended to be personalised investment advice or a solicitation for the purchase or sale of securities. Before purchasing any discussed securities, please be sure actions are in line with your investment objectives, financial situation and particular needs. International investors may be subject to additional risks arising from currency fluctuations and/or local taxes or restrictions. The information contained in this publication are obtained from, or based upon publicly available sources that we believe to reliable, but we make no warranty as to their accuracy or usefulness of the information provided, and accepts no liability for losses incurred by readers using research. Recommendations and opinions are subject to change without notice. Please remember that investments can go up and down, including the possibility a stock could lose all of its value. Past performance is not indicative of future results.

Copyright © 2019 The Motley Fool Singapore Pte. Ltd. All rights reserved. Company Reg. No. 201227853N