Bank of America Corp (BAC), JPMorgan Chase & Co. (JPM): How Housing Built the Dow Jones Industrial Average (.DJI)’s Surge

The economy’s comeback has fueled a rise in consumer confidence as well, and American Express Company (NYSE:AXP) is right in line to capitalize. The credit card company’s shares have risen 0.9% today, and Japanese financial company Nomura Holdings, Inc. (ADR) (NYSE:NMR) reiterated its “buy” rating on the stock today as well. American Express Company (NYSE:AXP) isn’t as directly tied to the housing market as the big banks are, but if Americans are returning to home-buying, expect consumption to follow that confidence higher. The U.S. economy already grew at an annualized rate of 2.4% in the first quarter, and if it keeps that figure up, average Americans should head back to stores regardless of tax hikes and sequester cuts.

Around the Dow, The Boeing Company (NYSE:BA) shares are also on the rise today, gaining 1.7% to rank near the top of the index. Shareholders received good news today when Singapore Airlines purchased 30 of The Boeing Company (NYSE:BA)’s stretched 787-10X Dreamliner aircraft. While the order wasn’t perfect — Singapore Airlines split its $17 billion order between Boeing’s jets and rival Airbus’ A350-900 planes — the buy is a show of faith in the 787 after its grounding dominated headlines in the first few months of the year. Boeing boasts an order backlog of more than 800 787s, and the company’s looking to ramp up production to keep deliveries coming. For Boeing, the skies are looking clear after a stormy start to the year.

The article How Housing Built the Dow’s Surge originally appeared on Fool.com and is written by Dan Carroll.

Fool contributor Dan Carroll has no position in any stocks mentioned. The Motley Fool recommends American Express. The Motley Fool owns shares of Bank of America and JPMorgan Chase (NYSE:JPM).

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.