New lows for 2022 were established for the Dow Jones Industrial Average towards the end of September. Apple stock (AAPL), Chevron stock (CVX), Merck stock (MRK), Microsoft stock (MSFT), and UnitedHealth Group stock (UNH) are some of the finest Dow Jones stocks to keep an eye on in October
At the beginning of October, both winners and losers are quite easy to identify. Chevron, Merck, and UnitedHealth were the three Dow Jones stocks with the best year-to-date gains as of the 30th of September. These companies stock prices had increased by 22.4%, 12.4%, and 0.6%, respectively.
Nike (NKE), Intel (INTC), and Salesforce (CRM) were the three Dow Jones equities with the poorest year-to-date performance as of the 30th of September, with respective decreases of 50.1%, 50.0%, and 43.4% for the year.
The technology-focused Nasdaq ended the month of September with a loss of 32.4% for the year. As of the 30th of September, the S&P 500 had lost 24.8% of its value, while the Dow Jones Industrial Average had lost 20.9%.
Explain the Dow Jones Industrial Average in simple terms.
The Dow Jones Industrial Average is one of the oldest stock market indices, established in 1896 with the initial inclusion of 12 firms. 30 stocks make up the Dow Jones are intended to act as a precursor for the whole stock market in the United States. The Nasdaq composite, heavily weighted toward technology stocks, and the S&P 500 index, an indicator of the 500 largest firms in the United States, are two other important stock market indices.
According to the IBD Big Picture, investors should concentrate their attention on the top stocks that have good relative strength when the stock market is now experiencing a pullback. They have the potential to be some of the most successful companies on the market if the Dow Jones Industrial Average is able to recover from the lows it reached in 2022.
Apple, Chevron, Merck, Microsoft, and UnitedHealth are examples of potential Dow Jones stocks to purchase and monitor in October. All of these companies are either in or very close to buying zones.
Apple Stock
According to the chart analysis provided by IBD MarketSmith, Apple share prices dropped 0.3% on Thursday, putting their recent winning streak of three days in jeopardy.
IBD Stock Checkup data reveals that Apple Inc. shares currently have an IBD Composite Rating of 77 out of a maximum potential 99 points. The Composite Rating is a mix of important fundamental and technical criteria that helps investors measure the strength of a firm. It is a simple method for determining which stocks have the most potential for growth.
Chevron Stock
As the price of U.S. crude oil continues to rise, the Dow Jones energy behemoth Chevron has moved back above both its 50-day and 200-day lines this week.
Thursday saw a gain of 2.1% for shares of Chevron.
Merck Stock
The pharmaceutical behemoth Merck is establishing a flat base with a purchase point of 95.82. However, it is still around 9 percentage points away from the entrance.
On Thursday, the stock price had a loss of 0.8% and is currently attempting to recover to its 50-day moving average.
The stock of Microsoft
On Thursday, the Dow Jones software leader Microsoft had a decrease of 0.6%, putting a stop to a three-day winning streak.
The current price of MSFT shares is around 30% lower than their 52-week high.
Stock in UnitedHealth Group Inc.
The massive health insurance provider UnitedHealth Group is working out the details of a new flat base with a buy target of 553.23. On Thursday, the stock price fell by 1.3%.
According to the IBD Stock Checkup findings, the UNH stock has a solid 94 out of a possible 99 IBD Composite Rating.
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Author Valerie Remorosa 
