Cyclical Stocks Power Dow Industrials Higher – The Wall Street Journal


The Dow Jones Industrial Average continued climbing Tuesday, powered by cyclical stocks like manufacturers and energy companies that are particularly sensitive to the economy’s trajectory.

The blue-chip index outpaced the broader S&P 500 and Nasdaq Composite Index for a second consecutive day as investors reordered the market’s winners and losers.

The Dow has outperformed the technology-heavy Nasdaq by 6.74 percentage points this week, the largest two-day performance spread since March 2001. It rose 262.95 points, or 0.9%, to 29420.92 on Tuesday, its third-highest close in history. Boeing, Chevron and 3M were among the biggest gainers.

The Nasdaq Composite, meanwhile, fell 159.53 points, or 1.4%, to 11553.86, with the big technology stocks that have powered much of this year’s stock rally pulling back for a second consecutive session.

The S&P 500 edged down 4.97 points, or 0.1%, to 3545.53.


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