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The Dow Jones Industrial Average has just scored its first-ever intraday since January, the resumption of a record for the benchmark that had taken almost eight months break.
The Dow
DJIA, + 0.98%
Thursday, at one point, reached 26,671.56, exceeding its record of 26,616.71 recorded Jan. 26 and ending the longest fallow period record, 164 trading days, since the passage of 288 days between May 2015 and July 2016. Market data.
The Dow index and the S & P 500 index
SPX, + 0.79%
But the Dow Jones fought hard to recover as strongly as its counterpart in the general market, worried about trade disputes between the United States and China. China.
The S & P 500 recorded a last record on August 29, and Wall Street investors wondered when the Dow Jones weighed in on the downs of multinational corporations, including Apple Inc.
AAPL, + 1.25%
Among the most sensitive to trade conflicts, given the scale of its activities in China, it would be able to reach a record.
In fact, it was Boeing shares
BA, + 1.17%
and Apple, which have helped the Dow reach new heights since its lowest level since March 23. Apple contributed 364 points to price-weighted Dow's performance, while shares of UnitedHealth Group Inc.
A H, + 0.48%
added 361 points and the action of Boeing Corp. added more than 300 points over the period.
It is important to note that the Dow is price-weighted rather than market-weighted, such as the S & P 500 and the Nasdaq. This means that the Dow is more influenced by the price movement of its components than the market value. A dollar movement in one of the 30 components of the Dow equals a change in the index of about 7 points (rounded). (It should also be noted that General Electric changed the values used to calculate the Dow, but this resulted in a marginal change in Dow's divisor at 0.144780719 vs. 0.145-233969, and GE played a negligible role. in the development of the Dow Jones, global movements given the course of its action).
Here is a list of the top 5 contributors to Dow since March 23 (at the close on Wednesday, by Dow Jones Market Data)
- Apple – 364 points
- UnitedHealth – 361 points
- Boeing – 300 points
- Home Depot Inc.
HD + 0.00%
–273 points
- Visa Inc.
V + 0.72%
–208 points
Here are the top 5 Dow losers since March 23
- Goldman Sachs Group Inc.
GS + 0.78%
– negative 68 points
- Intel Corp.
INTC, + 2.36%
– 21 negative points
- Travelers Cos. Inc.
TRV, + 0.99%
– 17 negative points
- General Electric
GE, -3.03%
2 points (General Electric was withdrawn at the end of June)
- International Business Machines Corp.
IBM, + 1.16%
a gain of less than 1 point
Thursday's gains also helped propel the S & P 500 to its highest intraday level, which currently stands at $ 2,927.23.
Lily: Trump detonates OPEC on oil prices, says cartel "must cut prices now!
Recent market gains have shown signs of improving fundamentals. In the latest economic data, for example, the first jobless claims fell by 3,000 last week, dropping to their lowest level since November 1969. The Philadelphia Fed's manufacturing index came in the previous month.
This has so far helped the market to get rid of concerns about trade. even as President Donald Trump reiterated this week his tough stance on China and said the US had "no choice" but to take $ 267 billion of additional tariffs on China.
This would add to advertised tariffs on about $ 200 billion of Chinese products announced Monday night. China reacted with tariffs of 5 to 10 percent on US $ 60 billion worth of goods that will come into effect on Sept. 24, and said it could introduce more measures if the United States applied higher tariffs.
Lily: Recent transactions on Wall Street have been calm and not very volatile
Also related: Not just technology: stock market recovery is broader than credit
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