4 Dow Jones Titans That Are Shooting Higher

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Dow Jones - 4 Dow Jones Titans That Are Shooting Higher

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U.S. equities are continuing to grind higher on Friday thanks to the resumption of the “Trumpflation” trade spurred by comments from President Trump this week that his tax cut plans would be released within the next few weeks.

4 Dow Jones Titans That Are Shooting Higher

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The dynamic got an additional lift by his comments about the U.S. dollar’s valuation, which he thinks is too high.

This resulted in a resumption of the post-election dynamic: Gains by “hard economy” industrial stocks and big bank stocks, bolstered by hopes of higher long-term interest rates.

With stocks pushing to fresh records, here are four blue-chip Dow Jones Industrial Average names leading the way higher:

Dow Jones Titans on the Move: Boeing (BA)

bamsnBoeing Co (NYSE:BA) shares continue to rise, challenging their late January high, thanks to strong order flow and solid quarterly results. The company would also be a beneficiary of the Trump Administration’s plans for a “border adjustment tax” that would benefit U.S. manufacturers exporting to foreign markets.

Boeing would also be helped by Trump’s preference for a weaker dollar and his comments against currency manipulation by foreign countries, especially in Asia.

The company will next report results on April 26 before the bell. Analysts are looking for earnings of $2.02 per share on revenues of $21.86 billion.

Dow Jones Titans on the Move: Caterpillar (CAT)

catmsnCaterpillar Inc. (NYSE:CAT) has bounced back up and over its 50-day moving average, threatening to challenge its late January high near the $100-a-share level as it seeks to end a four-month sideways crawl.

Shares have benefited from a series of analyst upgrades in recent weeks, with Barclays raising to overweight and a $110 target. RBC Capital Markets analysts like the company for its cost and capacity reduction moves.

The company will next release results on April 27 before the bell. Analysts are looking for earnings of 59 cents per share on revenues of $9.1 billion.

Dow Jones Titans on the Move: Home Depot (HD)

hdmsnHome Depot Inc (NYSE:HD) is breaking to new highs on Friday, challenging above the $140-a-share level to move over resistance in the high $130s that’s been in play since last summer.

No specific catalyst for the move, just a return of optimism about consumer confidence and thus, spending on housing. Back in November, the company reported better-than-expected earnings two cents better than estimates on a 6.1% jump in revenues.

The company will next report results on Feb. 21 before the bell. Analysts are looking for earnings of $1.33 per share on revenues of $21.7 billion.

Dow Jones Titans on the Move: IBM (IBM)

ibmmsnInternational Business Machines Corp. (NYSE:IBM) shares are pushing over their January highs to return to levels not seen since 2014. The stock have been a big beneficiary of the post-election market rally, pushing shares out of a four-year-long funk driven by worries over increasing debt and stalled revenue growth.

The narrative is changing now with a focus on new growth initiatives including cloud and a return to top-line growth in the United States.

The company will next report results on April 20 after the bell. Analysts are looking for earnings of $2.35 per share on revenues of $18.4 billion.

Anthony Mirhaydari is founder of the Edge and Edge Pro investment advisory newsletters. A two-week and four-week free trial offer has been extended to InvestorPlace readers.


Article printed from InvestorPlace Media, https://investorplace.com/2017/02/dow-jones-titans-shooting-higher/.

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