DJIA · WMTMT

Aug 22, 2025Nov 20, 2025Feb 24, 2026May 26, 2026Aug 25, 2026

Breadth

20 / 31

stocks rose with the index

Concentration

65%

of the gain from CAT, GS, AMGN

Biggest driver

CAT +2,349

Caterpillar, +86.14%

Biggest drag

HD −459

Home Depot, −18.16%

What drove it

31 members · drivers first · 1Y · residual 0.726bp within 1bp gate

The DJIA rose 17.41% (+7,945 pts) over the past year, and 65% of that gain came from just three stocks: CAT, GS, AMGN.

Read the latest market-close note: Nvidia and Goldman Sachs Lead a Narrow Advance as Energy and Staples Slide

+9,775.5 pts from 20 gainers−1,833.6 pts from 11 losers

net +7,945.3 pts · gainers outweigh losers 5.3 to 1

Stock

Points

Return

DJIAsum of all 31 stocks

+7,945.3

+17.41%

CATCaterpillar

+2,348.8

+86.14%

GSGoldman Sachs

+1,943.6

+42.74%

AMGNAmgen

+896.5

+50.57%

JNJJohnson & Johnson

+573.7

+52.34%

TRVTravelers

+565.9

+33.79%

UNHUnitedHealth

+555.1

+29.00%

AAPLApple

+499.7

+36.06%

MRKMerck

+419.4

+79.07%

JPMJPMorgan Chase

+366.2

+20.41%

CSCOCisco

+270.1

+65.05%

CVXChevron

+250.8

+26.38%

NVDANvidia

+211.2

+19.70%

VVisa

+199.0

+9.70%

AMZNAmazon

+192.3

+14.08%

KOCoca-Cola

+130.6

+30.69%

MMM3M

+123.9

+13.02%

AXPAmerican Express

+103.9

+5.26%

GOOGLAlphabet

+56.9

+2.84%

WMTWalmart

+54.8

+8.83%

VZVerizon

+13.0

+4.73%

HONHoneywell

−32.4

−2.08%

IBMIBM

−41.4

−3.27%

DISDisney

−49.5

−6.41%

PGProcter & Gamble

−80.7

−8.35%

BABoeing

−115.9

−8.28%

MSFTMicrosoft

−121.2

−3.06%

SHWSherwin-Williams

−139.7

−6.04%

NKENike

−239.2

−49.64%

CRMSalesforce

−272.3

−17.15%

MCDMcDonald's

−282.6

−14.64%

HDHome Depot

−458.9

−18.16%

Price weighting, illustrated

Caterpillar and Merck moved almost identically (+86.14% vs +79.07%), yet CAT moved the DJIA 5.6× as much. In a price-weighted index, a higher-priced share simply outvotes a cheaper one.

Attribution map

slicing the +7,945 pt move · cell size = points contributed · color = direction, intensity = return

CAT+2,348.8 pts(+86.1%)

GS+1,943.6 pts(+42.7%)

AMGN+896.5 pts(+50.6%)

JNJ+573.7 pts(+52.3%)

TRV+565.9 pts(+33.8%)

UNH+555.1 pts(+29.0%)

AAPL+499.7 pts

HD−458.9 pts(−18.2%)

MRK+419.4 pts

JPM+366.2 pts

MCD−282.6 pts(−14.6%)

CRM−272.3 pts(−17.1%)

CSCO+270.1 pts(+65.0%)

CVX+250.8 pts

NKE−239.2 pts

NVDA+211.2 pts(+19.7%)

V+199.0 pts

AMZN+192.3 pts

SHW

MMM

MSFT

AXP

DIS

Concentration curve

cumulative share of the +7,945 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

−50%−25%0%+25%+50%+75%

From −49.64% (NKE) to +86.14% (CAT). Equal-weight, the DJIA would be +16.93% vs the actual +17.41%; the gap is what price weighting did.

By sector

point contribution · sums to +7,945 pts

Financials5

+3,178.7

Health Care4

+2,444.8

Industrials4

+2,324.5

Information Technology6

+546.2

Energy1

+250.8

Consumer Staples3

+104.7

Communication Services3

+20.4

Materials1

−139.7

Consumer Discretionary4

−788.3

The year, session by session

every trading day of 2026 · hover for the move

JANFEBMARAPRMAYJUNJULAUG

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Dow Jones Industrial Average

What drove it

Attribution map

Concentration curve

When they drove it

Breadth

By sector

The year, session by session

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