Good day for: New blood, as the Dow Jones Industrial Average is adding insurer Traveler's Cos. and Cisco Systems Inc., and dropping Citigroup Inc. and General Motors. The updating of the Dow -- the best-known barometer of big-company stocks on Wall Street -- came as GM announced it was filing for bankruptcy protection under a government-driven restructuring that aims, among other things, to make the giant automaker much smaller. (AP in Yahoo Finance)
Bad day for: Following the herd, as an investor who followed President Obama's March 3 advice to buy stocks would have reaped 32 percent returns if he had invested that day in the Standard & Poor's 500 index. "This is one of the more visible examples of how going against the crowd and taking a contrary position works out spectacularly well," investment strategist Ed Yardeni said. (MarketWatch)
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
Antony Gormley's Time Horizon – a 'judgmental army' of 100 cast-iron menThe Week Recommends Sculptures are 'everymen questioning the privilege of their surroundings' at the Norfolk stately home
-
'King's horses take free rein through London'Today's Newspapers A roundup of the headlines from the US front pages
-
Is pop music now too reliant on gossip?Talking Point Taylor Swift's new album has prompted a flurry of speculation over who she is referring to in her songs
