When investors see 52-week highs in the Dow Jones Industrial Average and in the S&P 500 and NASDAQ, the obvious statement is “of course there are many stocks hitting 52-week highs.” But we have hit 52-week highs before, and today still looks like a near-term record of stocks that hit 52-week highs. If you include the preferred shares, public warrants, and ETFs, it looks like over 1,700 issues hit brand new 52-week highs today. Out of the 30 DJIA components, it looks like 10 of the 30 hit new 52-week highs. We have shares of American Express Company (NYSE: AXP), Bank of America Corporation (NYSE: BAC), Caterpillar, Inc. (NYSE: CAT), Cisco Systems, Inc. (NASDAQ: CSCO), General Electric Co. (NYSE: GE), The Home Depot, Inc. (NYSE: HD), Hewlett-Packard Company (NYSE: HPQ), Intel Corporation (NASDAQ: INTC), JP Morgan Chase & Co. (NYSE: JPM), and McDonald’s Corporation (NYSE: MCD).
American Express Company (NYSE: AXP) closed at $46.46, but the new 52-week high is $46.63.
Bank of America Corporation (NYSE: BAC) closed at $19.40, but its new 52-week high is $19.42.
Caterpillar, Inc. (NYSE: CAT) closed at $77.28 but the new 52-week high is $67.37.
Cisco Systems, Inc. (NASDAQ: CSCO) closed at $26.88 but the new 52-week high is $26.93.
General Electric Co. (NYSE: GE) closed at $19.35 but the new 52-week high is $19.40.
The Home Depot, Inc. (NYSE: HD) closed at $34.98 but the new 52-week high is $35.07.
Hewlett-Packard Company (NYSE: HPQ) closed at $54.52 but the new 52-week high is $54.64.
Intel Corporation (NASDAQ: INTC) closed at $23.52 but the new 52-week high is $23.69.
JP Morgan Chase & Co. (NYSE: JPM) closed at $47.73 but the new 52-week high is $47.93.
McDonald’s Corporation (NYSE: MCD) closed at $69.42 but the new 52-week high is $69.53.
After going through the other DJIA components, there are about 5 more within about 1% of the highs. Maybe the real story is that of the 30 DJIA components there were “ONLY” 10 hitting new 52-week highs….
If you wonder about this meaning that the retail investor is back or not, take a guess.
JON C. OGG