The Dow Jones Industrial Average (DJIA), often referred to as the Dow 30, is one of the oldest and most-watched stock indices in the world. It tracks 30 large, publicly-owned companies trading on the New York Stock Exchange (NYSE) and the NASDAQ. The Dow 30 serves as a barometer for the overall health of the United States stock market and the economy. It comprises sectors such as technology, finance, healthcare, and consumer goods.
Investing in Dow 30 stocks offers several advantages. This includes exposure to some of the most stable and well-established companies in the U.S. These stocks are often seen as less risky, making them attractive to conservative investors seeking steady growth and dividends. Additionally, because the Dow is a price-weighted index, higher-priced stocks have more influence on its performance. This can skew the view of the market’s overall direction.
For investors considering Dow 30 stocks, it’s essential to look beyond the index’s prestige and evaluate individual stocks based on their merits, financial health, and growth prospects. Keeping informed about economic indicators, company earnings, and global events will also aid in making informed decisions when buying Dow 30 stocks. That being said, let’s look at two Dow 30 stocks to watch in the stock market today.
Dow 30 Stocks To Watch In The Stock Market Now
- Amazon.com, Inc. (NASDAQ: AMZN)
- The Home Depot Inc. (NYSE: HD)
Amazon (AMZN Stock)
Amazon.com, Inc. (AMZN) is a multinational technology company that is most popular for its e-commerce platform. Besides retail, Amazon has diversified interests including cloud computing services through Amazon Web Services (AWS), digital streaming, and artificial intelligence.
Just this week, Amazon announced a deepened partnership with NVIDIA, focusing on enhancing generative AI capabilities on Amazon Web Services (AWS). This collaboration introduces NVIDIA’s Grace Blackwell GPU-based Amazon EC2 instances and NVIDIA DGX Cloud to AWS, aimed at boosting AI application performance and security. This move accelerates AI advancements, especially in healthcare and life sciences, by providing more efficient and secure development environments for large language models.
In the last month of trading, shares of AMZN stock have increased by 4.97%. Meanwhile, during Tuesday’s afternoon trading session, Amazon stock is trading up by 0.55% at $175.43 a share.
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The Home Depot Inc. (HD Stock)
Next, The Home Depot Inc. (HD) is the largest home improvement retailer in the United States, supplying tools, construction products, appliances, and services. Home Depot caters to do-it-yourselfers, as well as professional contractors and builders, offering a wide selection of products for home renovation, construction, and maintenance.
This month, Home Depot announced the opening of four new distribution centers aimed at improving its pro ecosystem. These facilities are in Detroit, southern Los Angeles, San Antonio, and Toronto, and are set to open in 2024. They are designed to stock large, bulky items like lumber and roofing shingles. This is an effort to support Home Depot’s strategy to better serve professional customers by delivering job lot quantities directly to their project sites.
Looking at the past month of trading, Home Depot stock is up by 4.31%. While, during Tuesday’s early afternoon trading session, shares of HD stock are higher on the day by 1.69%, trading at $378.19 a share.
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