The Dow Jones Industrial Average (DJIA), often referred to as “the Dow,” is a widely followed stock market index. In addition, Dow Jones tracks the performance of 30 blue-chip companies listed on the New York Stock Exchange and NASDAQ. The index serves as a barometer for the health of the U.S. economy. Meaning it provides investors with a general overview of the market’s performance and reflects the strength of various industries. This includes industries like technology, finance, healthcare, and consumer goods.
Dow 30 stocks refer to the 30 constituent companies of the DJIA, which are carefully selected to represent a diverse range of industries and are considered to be among the most stable and well-established corporations in the United States. Some notable Dow 30 components include Apple (NASDAQ: AAPL), Johnson & Johnson (NYSE: JNJ), and Goldman Sachs (NYSE: GS) to name a few.
It is important to note that the DJIA is a price-weighted index, meaning that the index’s value is calculated based on the sum of the stock prices of its constituents, adjusted for stock splits and dividends. This method can lead to a higher influence from higher-priced stocks, making the index less representative of the overall market compared to other indices, such as the S&P 500, which is market-cap weighted. All in all, let’s explore two Dow 30 stocks trending in the stock market now.
Dow 30 Stocks To Watch Today
3M Company (MMM Stock)
3M Company (MMM) is a multinational conglomerate that produces a broad range of products across various sectors, including healthcare, consumer goods, electronics, and transportation. Some of its well-known brands include Post-it, Scotch, and Nexcare.
Just this week, 3M reported a beat for its first quarter 2023 financial results. Diving in, the company announced earnings of $1.97 per share versus consensus estimates of $1.60 per share. Additionally, revenue came in at $8.0 billion for the quarter. This is in comparison with analysts’ consensus estimates which was $7.5 billion. Meanwhile, 3M also reaffirmed that it estimates 2023 earnings to be in the range of $8.50 to $9.00 per share with revenue between $32.15 billion to $33.52 billion.
In the last month of trading, shares of MMM stock have started to rebound by 3.93%. While, during Friday morning’s trading session, 3M stock is trading at $105.77 per share.
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Walt Disney Co. (DIS Stock)
Next, The Walt Disney Co. (DIS) is a diversified global entertainment company, encompassing a wide range of businesses including film and television production, theme parks and resorts, consumer products, and streaming services.
Earlier this month, Disney announced its first-ever Chief Brand Officer. Specifically, Asad Ayaz has been appointed as The Walt Disney Company’s first-ever Chief Brand Officer. In this new role, Ayaz will be responsible for managing and enhancing the Disney brand globally across various consumer touchpoints and experiences. Additionally, Ayaz will maintain his position as President of Marketing for The Walt Disney Studios.
Over the last month of trading, Disney stock has increased by 7.25%. Moreover, on Friday morning, shares of DIS stock are trading higher on the day so far by 1.70% at $101.63 per share.
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