Dow finishes over 32,000 stages for the first time. Here’s how he got there

by

The Dow Jones industrial average closed above the psychologically significant level of 32,000 on Wednesday, setting a milestone in a turbulent period for the stock market, as the economic recovery from the pandemic returns.

The 30-share index closed at 32,297.02, as Nasdaq Composite COMP,
-0.04%
ended in negative territory, still spinning in correction from the February 12 record. But the Dow went through 42 trading days before eliminating the latest 1,000-point stage, marking the fastest move since it rose from 30,000 to 31,000 on January 6th.

The rally for the blue-chip index comes as economic data suggests that worries about out-of-control inflation have probably been overburdened, at least in the short term, contributing to a rally of stocks that could have the best outcome against an improved business environment.

In addition, the House, by a vote of 220-211, passed a $ 1.9 trillion coronavirus bailout bill and sent it to President Biden for signature, legislation that is meant to provide a round of new spending and measures against poverty through Congress. Comes as vaccine launches from Johnson & Johnson JNJ,
+ 0.92%
the prospects for a strong recovery from the public health disaster are flourishing.

In this context, the Dow DJIA,
+ 1.46%
it has managed to climb despite a turbulent crisis over the past few weeks and growing concerns about stock market valuations.

An increase in benchmark bond yields has also driven a rotation of high flight technology and growth-oriented stocks and those considered more cyclical in nature, such as energy, industry and finance, which should have the best performance as the economy improves.

Specifically, Goldman Sachs GS,
+ 3.46%
was the largest contributor to Dow’s 1,000-point rise, recording more than 330 points, according to Dow Jones Market data. Boeing Co. BA,
+ 6.39%,
adding 214 points, it was the second best contributor to the price-oriented index.

Here is a complete list of leaders and laggards:

AMGNTicker

Punctual contribution

Goldman Sachs

331.41

Boeing

214.69

CAT Caterpillar,
+ 1.96%

176.53

American Express AXP,
+ 1.14%

165.08

Chevron Corp. CLC,
+ 1.71%

139.16

JPMorgan Chase & Co. JPM,
+ 2.17%

126.72

Walt Disney Co. DIS,
+ 0.28%

108.43

Travelers Cos. Inc. TRV,
+ 1.01%

107.31

3M MMM,
+ 1.84%

97.31

Microsoft MSFT,
-0.58%

92.97

Intel Corp. INTC,
-0.67%

66.19

Visa V,
+ 1.28%

61.58

Dow Inc. DOW,
+ 2.94%

36.71

Walgreens Boots Alliance Inc.

34.61

Cisco CSCO,
+ 0.84%

21.91

Coca-Cola Co. KO,
+ 1.14%

9.74

McDonald’s Corp. MCD,
+ 2.28%

8.75

Honeywell HON,
+ 2.55%

1.97

Home Depot HD,
+ 1.11%

-0.13

IBM International Business Machines,
+ 2.97%

-7.37

Johnson & Johnson JNJ,
+ 0.92%

-8.03

Verizon Communications VZ,
+ 1.57%

-9.54

Amgen AMGN,
+ 0.42%

-26.21

salesforce.com CRM,
+ 0.20%

-39.61

Nike,
+ 1.21%

-48.43

Merck MRK,
+ 0.84%

-60.93

Apple AAPL,
-0.91%

-71.98

Procter & Gamble PG,
+ 0.92%

-75.73

Walmart WMT,
+ 2.55%

-95.21

UnitedHealth Group Inc. UNH,
-0.68%

-101.52
Source: Dow Jones Market Data

It is also worth noting that the higher the Dow, the lower each 1,000-point move in percentage terms, but individual investors have tended to pay close attention to the Dow when sculpting new benchmarks. .

.Source