These 2 Dow Stocks Just Hit All-Time Highs
The Dow Jones Industrial Average (DJINDICES: ^DJI) has done a good job of outpacing some of its fellow stock benchmarks. Unlike broader measures like the S&P 500, the Dow focuses just about entirely on the giants of many different industries. Although it has concentrations and differences in exposure across various sectors the same way any index does, the Dow has been fortunate enough to have a stake in some strong performers during 2022. That has helped limit the Dow's losses in comparison to other indexes.
Indeed, a couple of Dow stocks reached all-time highs on Monday. It shouldn't come as a big surprise to see energy giant Chevron (NYSE: CVX) make the list, given how much the oil and gas industry has dominated the stock market so far in 2022. But the other company, McDonald's (NYSE: MCD), points to another consumer trend that has some investors thinking twice about other investments they hold.
Chevron does well when the oil and gas industry does well, and that was the case on Monday. Crude oil prices were actually relatively calm, rising only very slightly to move above $92 per barrel. However, a broad ETF based on oil and natural gas exploration and production companies moved up more than 3% on the day. That was enough to help boost Chevron's stock by more than 1% to hit a new record high.
Source Fool.com
