Best Dow Jones Stocks To Buy And Watch In January 2024: Apple Slides On Downgrade

The Dow Jones Industrial Average ended December with big gains, as the ongoing stock market rally continues. The best Dow Jones stocks to buy and watch in January 2024 are Apple (AAPL), Merck (MRK), Amgen (AMGN), Microsoft (MSFT) and Visa (V).

X

There are clear winners — and losers — at the start of January. The top three performing blue chip stocks in 2023 were Salesforce (CRM), Intel (INTC) and Microsoft, posting rallies of 98%, 90% and 56%, respectively.

The worst three Dow Jones stocks in 2023 were Walgreens Boots Alliance (WBA), Chevron (CVX) and Johnson & Johnson (JNJ), with respective declines of 30, 16% and 11%.

The tech-heavy Nasdaq rallied 43.4% in 2023, and the S&P 500 gained 24.2%. The Dow Jones Industrial Average rose 13.7% in 2023.

What Is The Dow Jones Industrial Average?

Founded in 1896 with 12 stocks, the Dow Jones Industrial Average is one of the oldest stock market indexes. There are 30 Dow Jones stocks designed to serve as a bellwether for the general U.S. stock market. Other major stock indexes include the technology-heavy Nasdaq composite and the S&P 500 index — an index of the 500 largest companies in the U.S.

Best Dow Jones Stocks To Watch

Source: IBD Data As Of Dec. 29, 2023

Amid the current stock market rally — according to the IBD Big Picture — investors should focus on stocks that show strong relative strength. These could again become 2024 market leaders if the Dow Jones Industrial Average is able to extend its recent gains.

The best Dow Jones stocks to buy and watch in January 2024 include Amgen, Apple, Merck, Microsoft and Visa.

Stock Market ETF Strategy And How To Invest

Dow Jones Leader: Apple Stock

Among Dow Jones stocks in the Magnificent Seven, Apple sold off 1.5% Tuesday, still holding near a flat base’s 199.62 buy point….