The Dow Jones Industrial Average (DJIA), often referred to as “the Dow,” is a significant barometer of the U.S. stock market’s health. It consists of thirty blue-chip stocks, which are large, industry-leading companies known for their financial stability. The DJIA is one of the oldest stock indices and is frequently used as a general indicator of the performance of major U.S. industries and the economy.
Investing in Dow Jones stocks involves putting money into some of the most well-established and financially sound corporations in the world. These companies often have a long history of profitability and are typically seen as lower-risk investments compared to smaller, more volatile stocks. They are also popular for paying regular dividends, which can be attractive for income-seeking investors. Despite their stability, Dow components are not immune to economic downturns and can reflect broader market uncertainties.
For investors looking at the Dow Jones as an investment target, it’s important to consider diversification within the index. Not all Dow stocks perform equally. Some may offer growth potential while others provide stability and regular dividends. It’s also critical to stay informed about global economic conditions, as these can significantly impact even the most robust Dow companies. With all of this being said, here are two Dow stocks to watch in the stock market today.
Dow Jones Stocks To Watch Today
American Express (AXP Stock)
To start, American Express Company (AXP) is a global financial services corporation. It is known for its credit card, charge card, and traveler’s cheque businesses. American Express provides payment, travel, and expense management solutions for individuals and businesses of all sizes.
Last month, American Express reported better-than-expected third-quarter financial results. In detail, the company posted Q3 2023 earnings of $3.30 per share, along with revenue of $15.38 billion. This is compared with the consensus estimates on Wall Street, which were an EPS of $2.96 with revenue estimates of $15.41 billion. Additionally, revenue increased by 13.46% compared to the same period, the previous year.
Year-to-date, shares of AXP stock have increased by 2.18%. Meanwhile, during Thursday’s afternoon trading session, American Express stock is trading higher on the day so far by 2.64% at $150.32 a share.
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Chevron Corp. (CVX Stock)
Next, Chevron Corporation (CVX) is one of the world’s leading integrated energy companies. Through its subsidiaries, Chevron engages in nearly every aspect of the energy industry. The company explores for, produces, and transports crude oil and natural gas. It also refines, markets, and distributes fuels and other energy products, operates the upstream and downstream sectors, and invests in renewable energy and advanced technologies.
At the end of last month, Chevron announced its third quarter 2023 financial results. In the report, the company reported an EPS of $3.05, along with revenue of $54.08 billion for Q3 2023. For context, this is versus analysts’ consensus estimates which were an EPS of $3.68 and revenue estimates of $50.24 billion.
In 2023 thus far, shares of CVX stock have pulled back by 14.86% YTD. However, during Thursday afternoon’s trading action, Chevron stock is trading green on the day by 2.90% at $148.13 per share.
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