Dow 23K: 5 biggest contributors to record run

Wall Street FOXBusiness

Dow hits 23K

The Dow hit an all-time high of 23,000.

As the Dow Jones Industrial Average passed 23,000 for the first time ever on Tuesday, just 53 days after the blue-chip index exceeded the 22,000 milestone, the index received a big boost from a few prominent stocks.

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In the Dow’s push from 22,000 to 23,000, these are the five stocks that have comprised more than half of the rally, according to data compiled by FOX Business senior editor Charles Brady.

Boeing

U.S. Aerospace and defense company Boeing (BA) added more than 142 points to the Dow since Aug. 2. Over the same time period, the company’s stock is up more than 8.7%.

Shares of Boeing were down slightly during the trading session Tuesday—less than 1%—after news of a new partnership between Canada’s Bombardier and European plane manufacturer Airbus broke on Monday.

Caterpillar

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U.S. manufacturer Caterpillar (CAT) has contributed more than 121 points to the Dow in its push past 23,000. Since Aug. 2, shares of Caterpillar have risen more than 15% and closed at more than $130 a share on Monday afternoon.

Last month, UBS raised its rating of Caterpillar from neutral to buy, after conducting a review of the company’s spending plans.

Shares of Caterpillar were down slightly as of midday Tuesday.

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Home Depot

Home improvement retailer Home Depot (HD), which is up more than 9% since the beginning of August, has added nearly 98 points to the Dow’s record run from 22K to 23K.

So far this year, the stock is up more than 22% and has outperformed the industry over the past year, according to Zacks.com.

Goldman Sachs

Goldman Sachs (GS) has added more than 88.5 points to the Dow since August, up more than 5% over the same time period.

The global investment giant was down nearly 2% as of midday Tuesday, despite reporting earnings that beat analyst expectations on both the top and bottom lines. Goldman Sachs executives also disclosed plans during their earnings call to buy back about $8.7 billion worth of company shares.

3M Company

The Dow can thank 3M (MMM) for contributing more than 77 points to its run to 23K. The mining and manufacturing company is up more than 21% so far this year and more than 27% over the past year.

3M CEO Inge Thulin was a member of President Donald Trump’s now-disbanded White House manufacturing council.

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