If the Dow Jones 30 can close the week positive, it will mark the seventh straight week of gains in this highly-followed US stock index. The Dow 30 has climbed over 5,000 points since last October, a 29% gain in one year.
Supporting the DJIA this week are major components like Caterpillar (CAT) and 3M (MMM), both continuing their climbs on strong 3Q earnings.
With big cap industrial movers like CAT and MMM, plus US banking leader JPMorgan Chase (JPM) making new highs, the Dow's uptrend is intact and has been propelled higher (despite the persistent "crash" callers).
3M extending the new highs, +7% today after 3Q earnings. $MMM pic.twitter.com/glkOIvjCtu— Finance Trends (@FinanceTrends) October 24, 2017
$JPM past the century mark, a new ATH. 20-year chart of JP Morgan Chase. pic.twitter.com/OQ4b63NK7V— Finance Trends (@FinanceTrends) October 24, 2017
The Dow is also helped by the recent strength in chip bellwether Intel (INTC), which has just climbed to a 16-year high, and Microsoft (MSFT), which is trading at new all-time highs.
So while the naysayers neigh, the US stock market continues its upward climb. We are in the midst of a powerful, multi-year bull market; it's time to respect the message of the market and position ourselves accordingly.
Stay tuned...
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