Stocks are back on the upswing today after the bearish start to the week, and the Dow Jones Industrial Average (INDEXDJX:.DJI) has ignored overseas pressures to post strong gains so far today. The blue-chip index has jumped 129 points as of 2:25 p.m. EDT to climb back above the 15,000 mark. Japanese markets plunged earlier today in what has become a pattern over the last few weeks, but American markets don’t seem to be sharing their Japanese counterparts’ worries.
How is today’s climb impacting your portfolio? Let’s check out the top movers and stories you need to know about.
Manufacturing builds up gains
Shares in fellow manufacturer United Technologies Corporation (NYSE:UTX) have jumped 1.6% today to rank among the Dow Jones Industrial Average (INDEXDJX:.DJI)’s leaders as well. United Technologies Corporation (NYSE:UTX) scored big earlier in the week when the Pentagon handed out $1 billion in contract awards. The company won a whopping $649 million of that package in a modification of a prior contract, whereby UTC subsidiary Pratt & Whitney would deliver engines for the Lockheed Martin Corporation (NYSE:LMT) F-35 fighter. United Technologies Corporation (NYSE:UTX) has done well in the defense industry, particularly on the back of the much-maligned boondoggle that is the F-35, but sequestration — along with concerns over the F-35’s skyrocketing costs — could slow down the company’s momentum in the future.
Aerospace and defense investors haven’t complained about the day’s gains, with The Boeing Company (NYSE:BA) shares also among the Dow Jones Industrial Average (INDEXDJX:.DJI)’s leaders today. The stock has climbed more than 1.2% today, and The Boeing Company (NYSE:BA) investors have enjoyed a strong past few weeks after a tumultuous start to the year. The company’s 787 Dreamliner has returned to normal operations after it being grounded for the first few months of 2013, and The Boeing Company (NYSE:BA) won two big military contracts earlier this week.
The Pentagon awarded the company $4 billion to construct Chinook helicopters for the Army and later handed out another $4.9 billion to Boeing and Textron Inc. (NYSE:TXT) subsidiary Bell Helicopters to build 99 Osprey tiltrotor aircraft. Although the Federal Trade Commission is looking into antitrust claims at the company’s United Launch Alliance joint venture with Lockheed Martin Corporation (NYSE:LMT), Boeing has done well to boost its backlog in the past few weeks. Considering that Boeing claimed on Tuesday that the world airliner fleet is set to double in the next 20 years, the future looks bright for this aerospace titan.
On the other side of the Dow Jones Industrial Average (INDEXDJX:.DJI), DuPont Fabros Technology, Inc. (NYSE:DFT) is leading a small group of laggers downward today, having lost 0.8% of its value. The firm dropped some bad news today when it announced that its operating profit will be negatively affected by cooler, wetter weather this spring. DuPont Fabros Technology, Inc. (NYSE:DFT) said its operating earnings for 2013’s first half will likely come in 10% lower year over year, pointing out that its agricultural business in the U.S. and Europe was hit by the unseasonal weather. DuPont Fabros Technology, Inc. (NYSE:DFT) still expects full-year operating earnings to meet prior guidelines but also believes they’ll come in at the low end of a projected range of between $3.85 and $4.05 per share.
The article The Dow Hits Triple-Digit Gains on Industrial Power originally appeared on Fool.com is written by Dan Carroll.
Fool contributor Dan Carroll has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin and Textron.
Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
