Hello traders and MarketClub members everywhere today is a big day for Apple as the world's most valuable company is officially joining the DOW after the close of business today. Leaving the Dow is poor old AT&T. They are getting booted out in favor of Apple.
I say congratulations to Apple Inc. (NASDAQ:AAPL) and I hope that they do very well being a major component in the DOW. The biggest component in this particular index will be Goldman Sachs (NYSE:GS). This is the first time that you had an investment bank represents over 7% of the weighted Dow index. So the most watched index in the world should be worth watching again.
At noon (EST) Elon Musk the head of Tesla Motors Inc. (NASDAQ:TSLA) will make a big announcement on "Range Anxiety". Now that should be interesting, as Tesla's stock has had a serious decline reflecting in large part the fact that oil has also become less expensive. Now I do think that electric cars have a future; it is just a question of creating batteries that can get an automobile and 4 people over 400 miles on one charge. That certainly would be a revolutionary step in the evolution of electric cars.
Today, I will be looking at Apple and what's going on with that stock and discussing if you should be buying Apple when it makes its debut on the Dow. I will also be looking at Tesla to see if anything happens after Elon Musk's "Range Anxiety" presentation. He tells us he's going to do everything with software, so it should be interesting.
In addition to looking at those two stocks, I will also be looking at yesterday's big rally in the equity markets, gold, crude oil and yesterday's decline in the dollar.
As always I appreciate your feedback and love to hear what your thinking on the markets so be sure to leave your comments below this post.
Every success with MarketClub,
Adam Hewison
President, INO.com
Co-Creator, MarketClub
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