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Real Story: No Celebrating

The Dow hits another record, but broad market averages suffer. Guests include Teddy Weisberg and Don Schreiber of WBI.
Author:

The

Dow Jones Industrial Average

set a record, but it was not a day for celebrating, Aaron Task says on Tuesday's

"The Real Story" podcast. "The bulls had everything they wanted but couldn't advance the ball."

A "perfect storm" of tame CPI data and weak results from retailers

Home Depot

(HD) - Get Home Depot, Inc. (HD) Report

and

Wal-Mart

(WMT) - Get Walmart Inc. Report

sent stocks higher early on amid hopes the

Federal Reserve

has the "cover" to cut rates, Task says. But the early gains were eroded by weakness in tech stocks such as

Applied Materials

(AMAT) - Get Applied Materials, Inc. Report

, which did report stronger-than-expected results after the close.

Whether AMAT's results will be enough to reverse the tide in tech stocks remains to be seen. But it's notable that the Philadelphia Stock Exchange Semiconductor Index hit a 52-week high late last Wednesday, which may have been the peak of the recent rally rather than a sign of better times ahead, Task says.

On a day when tech stocks faltered and the Dow utilities average joined the DJIA in record territory, Task welcomed Don Schreiber, CEO of WBI Investments and author of

All About Dividend Investing

to the show.

"As the U.S. population ages, people are going to be looking for more income and are going to increasingly turn to dividend-paying stocks," Schreiber says. In addition to traditional dividend-payers such as utilities and financials, Schreiber finds "stocks in all industries and all cap sizes" with healthy yields, citing Canadian biotech firm

TheStreet Recommends

Biovail

(BVF)

as an example.

In the remainder of the podcast, Task reviewed the state of the U.S. auto industry the day after

DaimlerChyrsler's

(DCX)

blockbuster deal to unload Chrysler to Cerberus Capital.

He also discussed the day's other corporate news, including

The Limited's

(LTD)

shake-up,

Amgen's

(AMGN) - Get Amgen Inc. Report

latest misery, and big gains for

Ingersoll-Rand

(IR) - Get Ingersoll-Rand Plc (IR) Report

and

Winn Dixie

(WINN)

.

Click

here to listen to the entire podcast.