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Investing

New vs. Old on DJIA 30

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By Paul Ausick Updated Published
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Frank Golhen, via Wikimedia Commons
Monday is the first day of trading for the new lineup on the Dow Jones Industrial Average (DJIA) index. The new team is off to a bit of a sluggish start.

Goldman Sachs Group Inc. (NYSE: GS) replaced Bank of America Corp. (NYSE: BAC), and both stocks are down this morning. Goldman is off about 2.8%, while Bank of America is off about 2.2%.

Visa Inc. (NYSE: V), which replaced Hewlett-Packard Co. (NYSE: HPQ), is down about 1.2%, and the latter is off about 0.9%.

New member Nike Inc. (NYSE: NKE) is down 1.6%, while former player Alcoa Inc. (NYSE: AA) is up about 0.6%.

The DJIA is down about 0.4% this morning, so we can conclude that the new team is not helping the index but dragging it down. Of course the S&P 500 also is off by about 0.6% as we approach noon, and the Nasdaq Composite is down by the same amount. Traders are still trying to figure out when the Fed will reel in it easy money program, and the betting today seems to be that it will be sooner rather than later. Markets appear to be continuing the sell-off that hit last Friday, after a burst of enthusiasm on Thursday when it appeared that QE3 might last until next year.

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About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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