The Dow Jones Industrial Average is still in bullish mode through the end of July, with the stock market pulling back from its 2023 highs. The best Dow Jones stocks to buy and watch in August 2023 are apple (AAPL), Boeing (Bachelor’s), Larva (cat), Microsoft (MSFT) And sales force (CRM).
There are clear winners and losers at the beginning of August. The top three top-performing stocks this year through July 31 were Salesforce, Apple, and Microsoft, posting gains of 69.7%, 51.2%, and 40.1%, respectively.
The tech-focused Nasdaq is up 37.1% through July 31, and the S&P 500 is up 19.5%. The Dow Jones Industrial Average is up 7.3% year-to-date.
What is the Dow Jones Industrial Average?
Founded in 1896 and comprising 12 stocks, the Dow Jones Industrial Average is one of the oldest stock market indices. There are 30 Dow Jones stocks designed to lead the US public stock market. Other major stock indices include the technology-heavy Nasdaq Composite and the S&P 500 – an index of the 500 largest companies in the United States.
Best Dow Jones stocks to watch
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Source: IBD data as of July 31, 2023
Amid the current stock market bullish trend – according to the IBD Big Picture – investors should focus on large stocks that are showing strong relative strength. These may continue to be the market leaders in 2023 if the Dow Jones Industrial Average is able to extend recent gains.
The best Dow Jones stocks to buy and watch in August near points of purchase include Apple, Boeing, Microsoft, Salesforce, and Caterpillar.
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Among Dow Jones stocks, Apple stock fell 1.5% Thursday, hitting a recent low. The stock is still below its 50-day line after sharp losses in recent weeks. Shares traded up 0.2% on Friday after reversing early losses.
According to the IBD stock checkAnd Apple stock offers a 79 of the 99 best possible IBD composite classifications. The composite rating—an easy way to identify top-growth stocks—is a combination of key fundamental and technical metrics to help investors gauge a stock’s strengths.
Boeing Stock is the flagship Dow Jones stock
Boeing is falling back into a buy range above the 223.91 buy point of the flat base, according to IBD MarketSmith pattern recognition.
Boeing shares rose 0.8 percent on Friday.
Microsoft shares have risen above the 276.86 buy point of the steady base and out of the buy range over recent months, but shares are steadily giving up those gains.
In recent weeks, Microsoft shares have plunged after the software giant offered disappointing sales forecasts and revealed increased capital spending requirements for its artificial intelligence initiatives. However, the company beat expectations for its fiscal fourth quarter, thanks to continued growth in its cloud computing business.
Shares lost 0.3% on Friday, still below the 50-day line.
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Salesforce has shed its steady entry of 225.00, as analyzed by IBD Leaderboard, in recent sessions.
CRM stock gained 0.5% on Friday. Last week, the stock triggered a sell signal 7% below its last buy point.
Caterpillar stock remains outside the buy range by over 250.89 buy points in a cup with a handle after the company’s earnings results beat expectations.
CAT stock fell 0.3% on Friday.
advice: Before making investment decisions, be sure to check current market conditionsand use IBD stock check To see if your stock is getting good ratings on the most important fundamental and technical parameters. For continuous chart analysis and trading signals, check out our unique features, stock lists, and chart explanations at www MarketSmithleaderboards and SwingTrader.
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