The Dow Jones Industrial Average ended September at fresh 2022 lows. Apple (NASDAQ:AAPL), Chevron (NYSE:CVX), Merck (NYSE:MRK), Microsoft (NASDAQ:MSFT), and UnitedHealth(NYSE:UNH) are the top Dow Jones companies’ stocks to watch in October.
At the start of October, there were apparent winners—and losers. Chevron, Merck, and UnitedHealth were the top three Dow Jones stocks through September 30, with year-to-date gains of 22.4%, 12.4%, and 0.6%, respectively.
How Does The Dow Jones Industrial Average Work?
The Dow Jones Industrial Average, founded in 1896 with 12 companies, is one of the oldest stock market indices. There are 30 Dow Jones equities that are intended to act as a barometer for the whole stock market in the United States. The technology-heavy Nasdaq composite and the S&P 500 index — an index of the 500 biggest corporations in the United States — are two other important stock indices.
According to the IBD Big Picture, investors should concentrate on the top stocks that have good relative strength during the current stock market drop. If the Dow Jones Industrial Average can recover from its 2022 lows, it might be among the market’s leaders.
Stocks to Watch
Apple, Chevron, Merck, Microsoft, and UnitedHealth are potential Dow Jones companies to purchase and monitor in October if they are in or near buy zones.
Apple Inc. Stock
According to IBD MarketSmith chart analysis, Apple shares fell 3.6% on Friday, wiping off a big portion of this week’s gains.
According to the IBD Stock Checkup, Apple stock (NASDAQ:AAPL) has an IBD Composite Rating of 75 out of a possible 99. The Composite Rating, a simple approach to uncovering top growth companies, combines essential fundamental and technical criteria that help investors assess a stock’s capabilities.
Chevron Stock
Chevron, the Dow Jones energy behemoth, is back above its 50- and 200-day moving averages this week as US oil prices continue to rise.
Chevron’s stock (NYSE:CVX) rose 0.1% on Friday.
Merck & Co. Stock
Merck is establishing a flat base with a 95.82 purchase target, although it is still approximately 9% away from the entrance point.
The stock (NYSE:MRK) gained 0.3% on Friday and is attempting to reclaim its 50-day moving average.
Microsoft Common Stock
Microsoft, the Dow Jones software leader, fell 5% on Friday, approaching last week’s 52-week low.
MSFT stock (NASDAQ:MSFT) is down almost 30% from its 52-week high.
UnitedHealth Group Inc. Stock
UnitedHealth Group(NYSE:UNH) is tracing a fresh flat foundation with a purchase target of $553.23. On Friday, shares fell 2.8%.
According to the IBD Stock Checkup, UNH stock has a solid 94 out of a perfect 99 IBD Composite Rating.
Tip: Before making any investment choices, examine current market circumstances and utilize IBD Stock Checkup to verify whether your stock is doing well.
Featured Image- Megapixl @ Austin Distel
Author Okoro Chinedu 
