DJIA · WMTMT

Aug 17, 2021Nov 16, 2022Feb 22, 2024May 21, 2025Aug 25, 2026

Breadth

23 / 34

stocks rose with the index

Concentration

51%

of the gain from GS, CAT, TRV

Biggest driver

GS +4,089

Goldman Sachs, +161.50%

Biggest drag

NKE −848

Nike, −76.87%

What drove it

34 members · drivers first · 5Y · residual 1.140bp exceeds 1bp gate

The DJIA rose 51.59% (+18,234 pts) over five years on a mixed tape; GS, CAT, TRV did most of the lifting, with 51% of the gain between them.

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

+20,765.4 pts from 22 gainers−2,535.7 pts from 12 losers

net +18,233.7 pts · gainers outweigh losers 8.2 to 1

Stock

Points

Return

DJIAsum of all 34 stocks

+18,233.7

+51.59%

GSGoldman Sachs

+4,088.6

+161.50%

CATCaterpillar

+3,798.8

+279.95%

TRVTravelers

+1,328.1

+132.64%

AMGNAmgen

+1,320.6

+91.28%

JPMJPMorgan Chase

+1,255.8

+127.18%

MSFTMicrosoft

+1,253.1

+67.77%

AXPAmerican Express

+1,106.0

+104.03%

AAPLApple

+1,010.1

+106.34%

VVisa

+940.5

+63.74%

IBMIBM

+639.2

+71.99%

CVXChevron

+628.6

+98.46%

JNJJohnson & Johnson

+562.8

+52.19%

AMZNAmazon

+538.0

+49.19%

MRKMerck

+482.3

+98.47%

WMTWalmart

+464.8

+109.78%

NVDANvidia

+390.1

+43.10%

CSCOCisco

+340.3

+98.38%

KOCoca-Cola

+212.4

+60.00%

MCDMcDonald's

+195.4

+11.57%

HDHome Depot

+140.7

+5.32%

GOOGLAlphabet

+56.9

+2.84%

PGProcter & Gamble

+12.2

+0.37%

MMM3M

−43.4

+7.52%

VZVerizon

−66.1

−17.16%

UNHUnitedHealth

−67.6

−5.97%

DOWDow Inc

−88.2

−21.52%

HONHoneywell

−91.9

−5.73%

BABoeing

−97.7

−5.02%

INTCIntel

−174.0

−50.22%

WBAWalgreens Boots Alliance

−180.7

−55.78%

SHWSherwin-Williams

−207.7

−8.74%

CRMSalesforce

−236.9

−16.71%

DISDisney

−433.9

−36.73%

NKENike

−847.6

−76.87%

Price weighting, illustrated

Microsoft and Coca-Cola moved almost identically (+67.77% vs +60.00%), yet MSFT moved the DJIA 5.9× as much. In a price-weighted index, a higher-priced share simply outvotes a cheaper one.

Attribution map

slicing the +18,234 pt move · cell size = points contributed · color = direction, intensity = return

GS+4,088.6 pts(+161.5%)

CAT+3,798.8 pts(+279.9%)

TRV+1,328.1 pts(+132.6%)

AMGN+1,320.6 pts(+91.3%)

JPM+1,255.8 pts(+127.2%)

MSFT+1,253.1 pts(+67.8%)

AXP+1,106.0 pts

AAPL+1,010.1 pts(+106.3%)

V+940.5 pts(+63.7%)

NKE−847.6 pts(−76.9%)

IBM+639.2 pts(+72.0%)

CVX+628.6 pts(+98.5%)

JNJ+562.8 pts

AMZN+538.0 pts

MRK+482.3 pts

WMT+464.8 pts

DIS−433.9 pts

NVDA+390.1 pts

CSCO

KO+212.4 pts

SHW−207.7 pts

MCD

WBA

INTC

HON

Concentration curve

cumulative share of the +18,234 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

−100%0%+100%+200%

From −76.87% (NKE) to +279.95% (CAT). Equal-weight, the DJIA would be +50.14% vs the actual +51.59%; the gap is what price weighting did.

By sector

point contribution · sums to +18,234 pts

Financials5

+8,719.1

Industrials4

+3,565.8

Information Technology7

+3,221.9

Health Care4

+2,298.1

Energy1

+628.6

Consumer Staples4

+508.7

Consumer Discretionary4

+26.5

Materials2

−295.9

Communication Services3

−443.1

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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