Dow finishes above 32,000 milestones for the first time. Here’s how it got there

Dow finishes above 32,000 milestones for the first time. Here’s how it got there

by

The Dow Jones industrial average closed above the psychologically significant 32,000 level on Wednesday, setting a milestone for the stock market during a turbulent period as the economic recovery from the pandemic takes shape.

The 30-share index closed at 32,297.02 as the Nasdaq Composite COMP,
-0.04%
ended in a negative area, while still being corrected from its record on February 12th. But the Dow went through 42 trading days before clearing its latest 1,000-point milestone, and it was the fastest such move since climbing from 30,000 to 31,000 on Jan. 6.

The rally for the blue-disc index comes as economic data suggests that concerns about inflation out of control may have been too low, at least in the short term, which has contributed to a rise in equities that is best against the background would perform. of an improved business environment.

In addition, in a 220-211 vote, the House passed a $ 1.9 billion coronavirus relief bill and sent it to President Biden for his signature, legislation intended to pass a round of new spending and poverty measures by the Congress to offer. It comes as an explosion of vaccines like Johnson & Johnson JNJ,
+ 0.92%
clarifies the prospects for a severe setback of the public health disaster.

Against the background, the Dow DJIA,
+ 1.46%
has managed to climb despite a major turmoil over the past few weeks, and the growing concern about valuation in the stock market.

An increase in standard yields for bonds has also led to the revolution of high-tech and growth-oriented stocks and into stocks that are considered more cyclical in nature, such as energy, industry and finance, which should perform best as the economy improve.

Specifically, Goldman Sachs GS,
+ 3.46%
was, according to Dow Jones Market Data, the largest contributor to the 1,000-point climb at Dow, building more than 330 points. The Boeing Co. BA,
+ 6.39%,
214 points, was the second best contributor to the price-oriented index.

Here is a complete list of the leaders and backward:

AMGNTicker

Point contribution

Goldman Sachs

331.41

Boeing

214.69

Caterpillar CAT,
+ 1.96%

176.53

American Express AXP,
+ 1.14%

165.08

Chevron Corp. CVX,
+ 1.71%

139.16

JPMorgan Chase & Co. JPM,
+ 2.17%

126.72

Walt Disney Co. DIS,
+ 0.28%

108.43

Travelers Cos. Inc. TRV,
+ 1.01%

107.31

3M MMM,
+ 1.84%

97.31

Microsoft MSFT,
-0.58%

92.97

Intel Corp. INTC,
-0.67%

66.19

Visa V,
+ 1.28%

61.58

Dow Inc. DOW,
+ 2.94%

36.71

Walgreens Boots Alliance Inc.

34.61

Cisco CSCO,
+ 0.84%

21.91

Coca-Cola Co. KO,
+ 1.14%

9.74

McDonald’s Corp. MCD,
+ 2.28%

8.75

Honeywell HON,
+ 2.55%

1.97

Home Depot HD,
+ 1.11%

-0.13

IBM International Business Machines,
+ 2.97%

-7.37

Johnson & Johnson JNJ,
+ 0.92%

-8.03

Verizon Communications VZ,
+ 1.57%

-9.54

Amgen AMGN,
+ 0.42%

-26.21

salesforce.com CRM,
+ 0.20%

-39.61

Nike NKE,
+ 1.21%

-48.43

Merck MRK,
+ 0.84%

-60.93

Apple AAPL,
-0.91%

-71.98

Procter & Gamble PG,
+ 0.92%

-75.73

Walmart WMT,
+ 2.55%

-95.21

UnitedHealth Group Inc. UNH,
-0.68%

-101.52
Source: Dow Jones Market Data

It is also noteworthy that the higher the Dow rises, the smaller each move of 1,000 percent in percentage, but individual investors tend to pay attention to the Dow as it works out new milestones.

.Source