Which company deserves the most credit for the Dow Jones Industrial Average’s run to a milestone at 27,000 since last posting a finish at or above a round-number milestone at 26,000 back on Jan. 17? Visa Inc.
The credit-card giant has rung up rich gains over the past 17 months, contributing some 390 points to the price-weighted Dow
while Microsoft Corp.
has added about 324 points to the blue-chip gauge, according to Dow Jones Market Data during that period.
Shares of Visa have climbed about 48% since mid January of 2018, rising to $180.47 a share from $121.98. As opposed to the S&P 500 index
and the market-capitalization weighted Nasdaq Composite Index
each dollar move in any one of the Dow’s 30 components equates to a 6.8-point swing in the 123-year-old, price-weighted benchmark. Microsoft shares have jumped by more than 54%, trading at $138.94 from $90.14 a share at the close of trading Jan. 17.
Meanwhile, the biggest drags on the Dow have been industrial giants, with 3M Co. exacting a 564-point toll on the index over the period, and Caterpillar Inc.’s shares dragging its down by 247 points.
Here’s a complete list of the contributors to the Dow’s relatively lengthy jaunt from 26,000 to 27,000, according to Dow Jones Market Data (the list includes 32 constituents accounting for a split up of DowDuPont Inc. and Walgreens replacing General Electric as a component:
|Dow component performance since Jan. 17, 2018||Total point contribution (as of midday trade July 11)|
|Walt Disney Co.
|American Express Co.
|Merck & Co. Inc.
|Procter & Gamble Co.
|Travelers Cos. Inc.
|Cisco Systems Inc.
|Home Depot Inc.
|UnitedHealth Group Inc.
|Verizon Communications Inc.
|JPMorgan Chase & Co.
|United Technologies Corp.
|General Electric Co.
|Johnson & Johnson
|Exxon Mobil Corp.
|Walgreens Boots Alliance Inc.
|DuPont de Nemours Inc.
|International Business Machines Corp.
|Goldman Sachs Group Inc.
All three main U.S. stock gauges were rallying on Thursday, aided partly by stock-supportive central-bank policy, with Federal Reserve Chairman Jerome Powell in congressional testimony setting the stage for an aggressive round of reductions to benchmark federal-funds rates at a range of 2.25%-2.50%. On Thursday, the S&P 500
and the Nasdaq Composite indexes
were trading in record territory.