Market Wrap-Up for Nov.3 (HIG, EOG, AGU, GRMN, MA, BLK, more)

By Staff,

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It appears most Wall Street strategists like yesterday's Election Day results, with "stalemate" appearing to be the central theme as far as powers in the Congress and Senate go.

That said, the next big focus appears to be this afternoon's Federal Reserve meeting where we expect to hear about another round of quantitative easing (i.e. Federal Reserve printing many more dollars in hopes of igniting the economy). In the past couple of days and with a rising stock market, the accolades are numerous for Federal Reserve Chairman Ben Bernanke. The idea that he has studied what happened in Japan and will do everything in his power to prevent deflation by continuing the printing press of U.S. dollars could become quite dangerous in a "be careful what you wish for" scenario. Any sudden spike in interest rates, which the bond market can easily begin to place bets on, could be something that gets away from the powers that be, and have the opposite effect of what was intended. During an attempt to tackle spiraling hyperinflation in 2007, the Central Bank of Zimbabwe increased interest rates for borrowing to 800%. Of course the argument is that this can't happen here. Either way, there will be a price to pay at some point, I'm sure, but until we start to see evidence of such, we will remain focused on outperforming the markets with our Best Dividend Stocks list.

Speaking of our recommendations, we added two new names to our list this morning, with a continued focus on yield. Be sure to check out the post if you did not read the e-mail alert we sent out earlier.

As for today's action, market participants are a bit cautious early on. Hartford Financial ( HIG ) did its part to help the averages after reporting earnings results Wall Street liked. On the flip side, EOG Resources ( EOG ), Agrium ( AGU ) and Garmin ( GRMN ) all saw selling on their earnings news. Blackrock ( BLK ) shares fell on news Bank of America ( BAC ) and PNC Financial ( PNC ) are looking to trim their holdings in the money management firm. Mastercard ( MA ) continued to tack on gains following yesterday's better-than-expected earnings results.

Don't forget to check out new Investing Videos section.

Thanks for reading, and I'll see you tomorrow!

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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