DJIA · WMTMT

Dec 31Mar 13May 21Aug 3Oct 9

Breadth

20 / 31

stocks rose with the index

Concentration

68%

of the gain from CAT, AMGN, TRV

Biggest driver

CAT +1,443

Caterpillar, +39.73%

Biggest drag

MCD −426

McDonald's, −23.03%

What drove it

31 members · drivers first · YTD · residual 0.165bp within 1bp gate

The DJIA rose 7.47% (+3,592 pts) so far this year, and 68% of that gain came from just three stocks: CAT, AMGN, TRV.

Read the latest market-close note: Goldman and Microsoft Push the Dow to a Large Gain While Telecoms Sink Communication Services

+5,754.7 pts from 22 gainers−2,163.8 pts from 9 losers

net +3,591.7 pts · gainers outweigh losers 2.7 to 1

Stock

Points

Return

DJIAsum of all 31 stocks

+3,591.7

+7.47%

CATCaterpillar

+1,443.2

+39.73%

AMGNAmgen

+527.0

+26.75%

TRVTravelers

+475.7

+27.13%

AAPLApple

+387.6

+23.83%

CVXChevron

+358.0

+39.09%

JNJJohnson & Johnson

+334.0

+26.33%

UNHUnitedHealth

+313.2

+14.90%

MSFTMicrosoft

+282.2

+10.64%

NVDANvidia

+255.6

+22.94%

CSCOCisco

+253.7

+53.69%

MRKMerck

+244.8

+38.32%

VVisa

+203.4

+9.91%

AMZNAmazon

+188.3

+13.69%

GSGoldman Sachs

+127.0

+1.86%

KOCoca-Cola

+110.5

+25.95%

GOOGLAlphabet

+84.8

+4.23%

JPMJPMorgan Chase

+65.5

+3.34%

PGProcter & Gamble

+48.3

+5.53%

VZVerizon

+35.8

+14.26%

HONHoneywell

+15.7

+1.53%

WMTWalmart

+0.6

−0.05%

MMM3M

+0.0

−0.09%

SHWSherwin-Williams

−23.5

−1.44%

DISDisney

−37.2

−5.03%

BABoeing

−159.0

−12.32%

NKENike

−177.3

−45.52%

CRMSalesforce

−235.4

−13.51%

HDHome Depot

−316.1

−15.51%

AXPAmerican Express

−373.5

−16.70%

IBMIBM

−415.8

−23.32%

MCDMcDonald's

−426.1

−23.03%

Price weighting, illustrated

UnitedHealth and Verizon moved almost identically (+14.90% vs +14.26%), yet UNH moved the DJIA 8.8× as much. In a price-weighted index, a higher-priced share simply outvotes a cheaper one.

Attribution map

slicing the +3,592 pt move · cell size = points contributed · color = direction, intensity = return

CAT+1,443.2 pts(+39.7%)

AMGN+527.0 pts(+26.8%)

TRV+475.7 pts(+27.1%)

MCD−426.1 pts(−23.0%)

IBM−415.8 pts(−23.3%)

AAPL+387.6 pts(+23.8%)

AXP−373.5 pts(−16.7%)

CVX+358.0 pts(+39.1%)

JNJ+334.0 pts(+26.3%)

HD−316.1 pts

UNH+313.2 pts(+14.9%)

MSFT+282.2 pts(+10.6%)

NVDA+255.6 pts

CSCO+253.7 pts

MRK+244.8 pts(+38.3%)

CRM−235.4 pts(−13.5%)

V+203.4 pts(+9.9%)

AMZN+188.3 pts(+13.7%)

NKE−177.3 pts(−45.5%)

BA−159.0 pts

GS+127.0 pts

KO+110.5 pts

GOOGL+84.8 pts

JPM

Concentration curve

cumulative share of the +3,592 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

−50%−25%0%+25%+50%

From −45.52% (NKE) to +53.69% (CSCO). Equal-weight, the DJIA would be +9.45% vs the actual +7.47%; the gap is what price weighting did.

By sector

point contribution · sums to +3,592 pts

Health Care4

+1,419.0

Industrials4

+1,300.0

Information Technology6

+527.8

Financials5

+498.0

Energy1

+358.0

Consumer Staples3

+159.4

Communication Services3

+83.4

Materials1

−23.5

Consumer Discretionary4

−731.2

The year, session by session

every trading day of 2026 · hover for the move

JANFEBMARAPRMAYJUNJULAUGSEPOCT

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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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