The Dow Jones Industrial Average closed modestly on its final trading day in 2024, but some of the top-performing stocks made significant gains throughout the year. Led by Nvidia’s impressive surge, four of the best Dow Jones stocks have achieved a Composite Rating of 90 or above.
Nvidia topped the list with a 171% gain, followed closely by Walmart at 72%, and American Express at 59%. Goldman Sachs also emerged as one of the top performers, with shares increasing by 48%.
These companies have been driven by strong fundamentals, including revenue growth, earnings surges, and expanding market share. For example, Nvidia’s quarterly earnings surged 103% in November, driven by a significant increase in AI-related revenues.
However, not all is rosy for these top-performing stocks. Nvidia’s stock has fallen roughly 10% since joining the Dow Jones index, citing antimonopoly concerns from China. Despite this, the company remains well-positioned to benefit from growing demand for advanced semiconductors.
Walmart and American Express have also faced challenges, but their strong earnings growth and commitment to innovation have helped them maintain their positions as top performers. Walmart’s e-commerce sales have been a key driver of its success, while American Express has benefited from a recovery in travel and entertainment spending.
The performance of these stocks highlights the importance of staying informed about market trends and fundamentals. As we look ahead to 2025, investors will be watching for signs of continued growth and strong earnings results from these top-performing companies.
Source: https://www.investors.com/news/best-dow-jones-stocks-2024-nvidia-walmart-amazon-goldman-sachs-american-express