Market Wrap-Up For Oct. 24 – Focus on Fundamentals

After U.S. equities seemingly took a breather on Wednesday, stocks ended the session higher, fueled by upbeat Chinese numbers and better-than-expected blue-chip earnings.

Today’s Market Movers

Dow component 3M (MMM) reported a surprisingly strong 5.9% rise in its third quarter earnings, with profits coming in at $1.23 billion, or $1.78 per share. Telecom giant AT&T (T) also beat earnings estimates, while revenues fell in line with expectations. Meanwhile, Ford Motor Company (F) reported strong third-quarter results, and lifted its projections for sales in China.

Be sure to check the Dividend Daily for all the latest earnings reports, analyst moves, and much more.

New Stock Recommended Today

Following yesterday’s big upgrade, we’ve got another dividend stock to recommend to investors today. Check out the details of today’s upgrade here.

The Bigger, Macroeconomic Picture

Dysfunctional politics on Capitol Hill have once again taken center stage on Wall Street, as investors try to prepare themselves for the next round of political ping-pong coming in February. But while Washington will likely continue to weigh heavily on the markets, investors must be able to look at the bigger, macroeconomic picture.

Though U.S. data has been somewhat mixed in recent months, the overall economic landscape has improved tremendously since the financial crisis of 2008. The housing market has finally regained its footing, labor data has shown slow but positive growth, and consumers have started to regain confidence – all signs showcasing that the the U.S. economy is alive and kicking.

Do these figures mean the country won’t face major headwinds in the future? No, not at all. But for dividend investors, patience will go a long way. No matter which school of economic thought you align yourself with, there is no deny