The Dow Jones Industrial Average (DJIA), often simply referred to as “the Dow,” is a prominent stock market index. It represents 30 of the largest and most influential companies in the United States. The DJIA is one of the oldest stock indices, widely recognized, and used as a barometer for the general state of the U.S. economy. The composition of the Dow reflects various sectors, providing a snapshot of the corporate landscape and economic health.
Investing in the Dow 30 stocks presents distinct advantages. These stocks represent well-established companies with a history of financial stability, often making them a less volatile investment. They are favored by investors seeking consistent and reliable performance. However, the Dow has its drawbacks. It covers only 30 companies, which may not provide a comprehensive view of the market.
Additionally, the Dow’s price-weighted index methodology can lead to a skewed representation, as it gives higher-priced stocks more influence over the index’s movement. Investors need to consider these factors, alongside broader market trends, when investing in the Dow 30 stocks. Considering this, here are three Dow 30 stocks to watch in the stock market in 2024.
Dow 30 Stocks To Buy [Or Avoid] Now
Coca-Cola Company (KO Stock)
To start, The Coca-Cola Company (KO) is a globally recognized leader in the beverage industry. The company is famous for its flagship product Coca-Cola. Additionally, the company offers a diverse range of beverages including soft drinks, water, juices, and energy drinks. Coca-Cola operates an extensive global distribution network, making its products available worldwide.
Earlier this month, Coca-Cola announced plans to release its financial results for the fourth quarter and full year of 2023 on February 13, before the New York Stock Exchange opens. This announcement will be followed by an investor conference call at 8:30 a.m. ET to discuss the results.
In the last month of trading activity, shares of KO stock have gained by 1.56%. While, during Wednesday’s lunchtime trading session, Coca-Cola stock is trading modestly lower by 0.067% at $59.95 a share.
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Walmart (WMT Stock)
Next, Walmart (WMT) is the world’s largest retailer, operating a chain of hypermarkets, discount department stores, and grocery stores. Additionally, Walmart operates thousands of stores globally. The company is known for its wide range of products at low prices.
Back in November, Walmart reported its third quarter FY 2024 financial results. Diving in, the company posted earnings of $1.53 per share, along with revenue of $160.80 billion for Q3 2024. This was versus estimates on Wall Street, which were an EPS of $1.53 per share, and revenue estimates of $149.82 billion.
Looking at the last month of trading action, shares of Walmart stock have risen by 4.08%. Meanwhile, during Wednesday’s early afternoon trading session, WMT stock is trading lower on the day so far by 0.33% at $161.29 a share.
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Verizon Communication (VZ Stock)
Last but not least, Verizon (VZ) is a leading provider of telecommunications services, including wireless communications, broadband, and cable services. Currently, Verizon is one of the largest telecommunication companies in the U.S. It offers a range of services from mobile phone plans to high-speed internet and is continually expanding its network capabilities, particularly in 5G technologies.
Just this month, Verizon reported the launch of a new innovative program under Verizon Frontline, aimed at developing advanced, 5G-enabled solutions for first responders. The Verizon Frontline Innovation Program is designed to foster new ideas and technologies that enhance efficiency and reduce response times for emergency services.
Moving along, in the last month of trading, shares of VZ stock have advanced by 3.27%. Moreover, during Wednesday’s afternoon trading action, Verizon stock is trading red on the day so far by 0.98% at $38.90 a share.
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