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New Lows Abound
The Dow Industrials [.DJIA
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], Dow Transports, and Dow Utilities are all hitting multi-year lows now. While the Dow Industrials and Dow Transports have been closing at new lows for days, the Dow Utilities closed below its October low for the first time on Friday.
18 of the 30 Dow components (or 60% of the Dow) are hitting multi-year lows. These include: AA, AXP, BA, BAC, C, CAT, DD, DIS, GE, HPQ, JNJ, KFT, KO, MMM, MSFT, PFE, PG, UTX.
7 of the 10 S&P 500 sectors are at new lows. Sectors at new lows include: consumer staples, energy, financials, healthcare, industrials, materials, utilities. The three sectors NOT hitting new lows are consumer discretionary, techs, and telecom.
The number of new lows at the NYSE is now at its highest level since November. The NYSE Composite index (a measure of all stocks traded on the NYSE) is also at its lowest level since 1997.
Falling Below 7,000
Today’s declines have also pushed the Dow below 7,000 for the first time since 1997. However, 12 of the index’s components are still up since then.
Here's how the Dow's current components have fared since the close on May 1, 1997 - the last time the Dow Industrials closed below this 7,000 threshold
Change Since May 1997
- Wal-Mart +245.4%
- ExxonMobil +137.1%
- IBM +124.3%
- United Technologies +109.2%
- McDonald's +97.0%
- Chevron +72.9%
- Johnson & Johnson +65.1%
- Home Depot +59.2%
- Procter & Gamble +52.5%
- Hewlett-Packard +40.4%
- Microsoft +5.9%
- Caterpillar +1.3%
- 3M -0.4%
- Verizon -13.3%
- AT&T -14.7%
- Pfizer -24.8%
- JPMorgan Chase -29.8%
- Intel -33.5%
- Coca-Cola -34.9%
- Boeing -39.3%
- Walt Disney -39.3%
- American Express -40.4%
- Merck -42.7%
- General Electric -57.2%
- DuPont -64.9%
- Alcoa -66.3%
- Bank of America -88.8%
- Citigroup -91.3%
- General Motors -95.3%
- Kraft Foods Went public in 2001
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