Stock Market Today: Dow Shoots Past 26K in Third Straight Gain
BA jumps 13%; AXP helps Dow rally continue
The Dow is 3-for-3 in June, with a third consecutive day of gains triggered by more data suggesting that the deepest depths of America's economic trench are behind it.
ADP reported that private payrolls declined by 2.76 million in May, which was significantly better than the 8.75 million expected. ISM's non-manufacturing activity index readout from May also improved -- to 45.4, from 41.8 in April -- suggesting that the services industry still is contracting, but at a slower rate.
That added more kindling to ongoing rallies in economically sensitive industries such as airline stocks. The U.S. Global Jets ETF (JETS) gained 7.3% Wednesday and has shot 30.0% higher over the past two weeks. The Dow, which cleared the 26K level with a 2.1% gain to 26,269, was led by the likes of Boeing (BA, +13.0%) and American Express (AXP, +6.4%).
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Investors can find positive momentum across the board. The S&P 500 closed 1.4% higher to 3,122.87. The tech-heavy Nasdaq Composite gained 0.8% today to put it less than 2% away from record highs. Small-cap stocks are gaining steam, too, with the Russell 2000 improving by another 2.6% on Wednesday. But the Dow Jones Industrial Average has been the best of the major indices over the past two weeks, rallying a sharp 8.5% as economic indicators crawl out of the basement.
Investors who want to piggyback the mega-cap index's momo, however, should look at its components on a case-by-case basis. Here, we've broken down the entire Dow 30, from worst to first, based on how Wall Street collectively views these stocks. Read on for the full rankings, as well as what the pros have to say about why they're hot for, or hesitant about, each of these well-known blue chips.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.
Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism.
You can check out his thoughts on the markets (and more) at @KyleWoodley.
-
Stocks Chop as the Unemployment Rate Jumps: Stock Market TodayNovember job growth was stronger than expected, but sharp losses in October and a rising unemployment rate are worrying market participants.
-
Should You Renew Your CD?With rate cuts impacting earnings, we examine if now is a wise time to renew CDs.
-
7 Ways to Plan Now to Save on Medicare IRMAA Surcharges LaterUnderstand the critical two-year lookback period and why aggressive planning before you enroll in Medicare is the most effective way to minimize IRMAA.
-
AI Stocks Lead Nasdaq's 398-Point Nosedive: Stock Market TodayThe major stock market indexes do not yet reflect the bullish tendencies of sector rotation and broadening participation.
-
Stocks Bounce Back With Tech-Led Gains: Stock Market TodayEarnings and guidance from tech stocks and an old-school industrial lifted all three main U.S. equity indexes back into positive territory.
-
If You'd Put $1,000 Into Coca-Cola Stock 20 Years Ago, Here's What You'd Have TodayEven with its reliable dividend growth and generous stock buybacks, Coca-Cola has underperformed the broad market in the long term.
-
If You Put $1,000 into Qualcomm Stock 20 Years Ago, Here's What You Would Have TodayQualcomm stock has been a big disappointment for truly long-term investors.
-
If You'd Put $1,000 Into Home Depot Stock 20 Years Ago, Here's What You'd Have TodayHome Depot stock has been a buy-and-hold banger for truly long-term investors.
-
What the Rich Know About Investing That You Don'tPeople like Warren Buffett become people like Warren Buffett by following basic rules and being disciplined. Here's how to accumulate real wealth.
-
If You'd Put $1,000 Into Bank of America Stock 20 Years Ago, Here's What You'd Have TodayBank of America stock has been a massive buy-and-hold bust.
-

If You'd Put $1,000 Into Oracle Stock 20 Years Ago, Here's What You'd Have TodayORCL Oracle stock has been an outstanding buy-and-hold bet for decades.
