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The Dow Jones Industrial Average soared 332 points on Thursday to close at 24,272.35, the first time ever that the Dow has closed above 24,000. The Dow opened at 24,305.40 on Friday and market milestone occurred barely a month after the Dow hit 23,000. Since the election of President Donald Trump last year, the Dow has notched 80 daily record highs, spiked nearly 6,000 points, and is up over 32%. The S&P 500 and Nasdaq are also near all-time highs. Investors have a new boost of confidence since the new tax plan is closer to becoming a reality. There are six stocks that have powered the recent stock market surge over the last month.
Six high-priced stocks (which account for 20% of the Dow) are the powerplants of 60% of the growth during the Dow’s ascension from 23,000 to 24,000. The Dow Jones industrial average first hit 23,000 on Oct. 17. During the record-breaking 1,000-point gain, these are the six stocks that account for 628 points from a diverse blend of industries including healthcare, industrial, retail, and technology.
UnitedHealth Group: 148
3M: 140
Home Depot: 103
Wal-Mart: 84
Boeing: 79
Apple: 74
This comes after reports this week on a strong economy. On Wednesday, a new report shows the U.S. grew at an impressive 3.3% pace between July and September, the greatest growth since 2014 and the second-straight quarter of 3% growth.