Top 5 Performing Stocks in the Dow Jones Industrial Average for 2024

As 2024 draws to a close, many analysts believe that the Dow Jones Industrial Average will finish the year positively, barring any major economic crises. So far this year, the Dow is experiencing an impressive rise of 18.7%, largely due to the performance of its top five stocks. Let's take a closer look at these leading companies and explore why they have captured investor interest over the past few months.

Leading Performers

The top five stocks in the Dow, ranked by their year-to-date percentage gains, are Nvidia (NVDA), Walmart (WMT), American Express (AXP), Goldman Sachs (GS), and JPMorgan Chase (JPM).

Company	Sector	Share Price Gain (YTD)
Nvidia	Technology	173%
Walmart	Retail	75%
American Express	Finance	62%
Goldman Sachs	Finance	57%
JPMorgan Chase	Finance	47%

According to data from Slickcharts, these gains are as of market close on November 27.

Nvidia has emerged as a leader in the technology sector, often regarded as a key player in the ongoing artificial intelligence (AI) boom. The company’s innovative products have solidified its position as an essential supplier of chips for AI applications.

Walmart has also made significant strides, particularly in the realm of online shopping. Their proactive approach to e-commerce has contributed to impressive growth in fundamental metrics for the business.

The financial sector is represented by the remaining three companies, all of which have historically fared well during economic upturns. With the economy showing signs of improvement and inflation seeming under control, these banks could benefit further from increased demand for loans and investment services.

Looking Ahead to 2025

While some may argue that these stocks are overvalued, there are solid reasons to believe in their continued success. The AI market is poised for remarkable expansion, and companies like Nvidia are expected to thrive as demand for their chips grows. Furthermore, Walmart’s ability to continue expanding its online presence positions it well against competitors in the retail sector.

Most economists predict ongoing economic growth and decreasing inflation in the United States, creating a favorable environment for these top-performing stocks.

American Express is an advertising partner of various platforms. JPMorgan Chase is also an advertising partner. The author does not hold shares in any of the mentioned stocks. It is important to note that several platforms have stock positions in Goldman Sachs, JPMorgan Chase, Nvidia, and Walmart, and they may recommend these stocks.

Stocks, Dow, Performance