The Dow Jones Industrial Average is a stock market index that tracks the performance of 30 large publicly traded companies. Companies that make up the Dow 30 are some of the most followed and traded stocks in the world among stock market investors. These include companies like Goldman Sachs Group Inc. (NYSE: GS), Microsoft Corporation (NASDAQ: MSFT), and The Walt Disney Company (NYSE: DIS) to name a few. Meanwhile, the Dow Jones Industrial Average is one of the most closely watched stock market indices. As a result, the Dow is broadly used as a barometer for the overall health of the stock market.
Additionally, Dow Jones stocks are typically seen as a safer investment. Many Dow Jones stocks are blue chip stocks. This means they are well-established companies with a history of strong financial performance. For these reasons, Dow Jones stocks are often sought after by investors looking for a safe and reliable investment. With this in mind, here are two top dow jones stocks to check out in the stock market this week.
Dow Jones Stocks To Buy [Or Sell] Now
American Express (AXP Stock)
American Express Company (AXP), also known as Amex, is a multinational financial services corporation. The company operates in approximately 130 countries. For the uninitiated, Amex provides consumers and businesses with charge and credit card payment products. Furthermore, the company also operates a highly profitable merchant payment network. Currently, the business operates in three business segments: global consumer services, global commercial services, and global merchant and network services.
AXP Recent Stock News
In addition to that, back in July American Express announced a beat for its second quarter 2022 financial results. Getting straight to it, American Express Company reported earnings of $2.57 per share and revenue of $13.4 billion for the 2nd quarter of 2022. This is compared with analysts’ consensus Q2 2022 estimates, which were earnings of $2.37 per share, and revenue of $12.4 billion. Additionally, the company posted revenue growth of 30.8% on a year-over-year basis.
Separate from that, the company also reported a revised forecast for its full-year 2022 fiscal results. Specifically, American Express said they continue to expect full-year 2022 earnings of $9.25 to $9.65 per share. However, AXP announced they have revised its revenue forecast higher for its full-year 2022. In the report, the company said they estimate full-year 2022 revenue of $53.71 billion to $54.58 billion, versus AXP’s previous revenue estimates of $50.0 billion to $50.9 billion for the full-year fiscal 2022.
Stephen J. Squeri, Chairman and CEO had this to say about the quarter’s performance, “Card Member spending was up 30 percent from a year earlier on an FX-adjusted basis, driven by the robust rebound in global Travel and Entertainment spending, which surpassed pre-pandemic levels for the first time in April and was led by strong growth in consumer and SME spending and a significant uptick in corporate travel.”
AXP Stock Chart
Shares of AXP stock closed Friday’s trading session at $140.26 per share. Meanwhile, American Express stock is trading down 29.71% from its 52-week highs of $199.55 per share. All in all, is AXP stock a top dow jones stock to have on your radar this week?
Johnson & Johnson
Following that, let’s talk about Johnson & Johnson (JNJ). In brief, Johnson & Johson is a global diversified health care company. The company produces products and services for the consumer, pharmaceutical, and medical devices markets. Currently, JNJ offers a dividend yield of 2.77%.
JNJ Recent Stock News
In July, Johnson & Johnson announced their second quarter 2022 financial results. In the report, the company reported earnings of $2.59, along with revenue of $24.0 billion for Q2 2022. Johnson and Johnson reported its forecast for full-year 2022 estimates. In detail, the company said it now expects full-year 2022 earnings of $10.00 to $10.10 per share. Also, they said they estimate revenue to come in between $93.30 billion to $94.30 billion. Previously, Johnson and Johnson said it was projecting earnings between $10.15 to $10.35 per share, along with revenue of $94.80 billion to $95.80 billion.
Aside from that, the company announced this month that it will be releasing its third-quarter 2022 financial results to investors on Tuesday, October 18, 2022, before the market opens.
JNJ Stock Chart
Year-to-date shares of JNJ have outperformed the broader market only being down 2.81%. As of Friday’s closing bell, JNJ stock is set to open this trading week at $166.72 per share. Will you keep JNJ stock on your watchlist this week?