Why Dow Chemical Co (DOW), Freeport-McMoRan Inc (FCX) and Ralph Lauren Corp (RL) are 3 of Today’s Best Stocks

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U.S. markets staged a very positive day, as slowing global markets helped the major averages for a change, rather than hindering them.

Why Dow Chemical Co (DOW), Freeport-McMoRan Inc (FCX) and Ralph Lauren Corp (RL) are 3 of Today's Best StocksThe biggest news was that Japanese industrial output was down 0.5% in August — the second consecutive month of declines. Economists were expecting a 1% increase. But the soft data made traders hopeful that a new government stimulus program could be forthcoming.

Another positive for the markets was that the September ADP employment report came in with an added 200,000 jobs for private firms.

Commodities were also firmer today, with oil and copper both strong.

The Dow Jones Industrial Average rose 1.5%. The S&P 500 was even stronger, up 1.9%, and the Nasdaq performed best of all at 2.3%. All sectors were looking higher, and technology stocks were particularly strong. Just a solid day all around.

Former market stalwart Dow Chemical Co (NYSE:DOW) had a productive day, along with Freeport-McMoRan Inc (NYSE:FCX) and Ralph Lauren Corp (NYSE:RL). Here’s why those three were among today’s best stocks

Dow Chemical Co (DOW)

Dow Chemical was a winner today after a favorable write-up cited five reasons for value investors to consider buying DOW stock.

The Motley Fool says Dow stock is trading at a five-year low price-to-earnings ratio after being knocked down about 20% over the past year, mostly because of macro global concerns rather than problems with the company.

Other favorable aspects of DOW include its diversity of business segments, increasing cash flow, declining debt, growth strategy and dividend and repurchase history.

DOW stock climbed 4% today on 33 million shares.

Freeport-McMoRan Inc (FCX)

FCX was a main beneficiary of rising copper prices today, with investors cashing out positions with a Chinese holiday approaching. There was also talk of an output cut in Chile.

Copper prices on the comex were up about 4% this morning.

But also giving FCX stock a 6% price boost was the company’s declaration of a quarterly cash dividend of 5 cents a share, payable Nov. 2, to stockholders of record as of Oct 15.

FCX was forced to cut its dividend at the beginning of 2015, as copper prices sank, and the stock tumbled from $38 a share in July 2014 to a recent low below $8.

The board’s decision seems to indicate renewed confidence that the worst may be over for copper prices and FCX stock.

Ralph Lauren Corp (RL)

The maker of fine men’s clothing had a banner day as the company named Stefan Larsson, the former head of Old Navy Inc., a subsidiary of Gap Inc (NYSE:GPS), as its new CEO.

Larsson’s appointment both surprised and delighted the street.

Larsson also spent 15 years at Hennes & Mauritz AB (HNNMY). He will replace Ralph Lauren, the company’s founder and longtime CEO. Lauren will stay on as executive chairman and chief creative officer, with Larsson reporting to him.

Another change at RL is that Chief Operating Officer Jackwyn Nemerov will be retiring in November.

RL stock, which rose 14% today, has recently slumped from $187 a share to $115, so a change of some sort was to be expected.

As of this writing, Ethan Roberts does not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2015/09/dow-chemical-co-dow-freeport-mcmoran-inc-fcx-ralph-lauren-corp-rl-3-todays-best-stocks/.

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