5 Biggest Dow Winners as Stocks Shrug Off Jobless Claims

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The five biggest Dow Jones Industrial Average winners Thursday afternoon were mixed in terms of what investors like to buy when economic uncertainty from COVID is a theme. 

Recently, cyclical value stocks have been pressured. They’ve risen a bit in the past month as earnings have rolled in, but since early June, they are down. Virus cases have ticked up again, states have paused reopening plans, interest rates cannot fall much from here and fiscal stimulus is not exactly a sure bet right now, as Congress and the White House attempt to negotiate. Some economic data have slowed, and the speed of the recovery is in question. 

When investors get skittish about the speed of the current recovery, they like to buy large-cap growth tech stocks with strong balance sheets and growth drivers that can largely power through health-related and economic headwinds. 

But with the highly cyclical consumer discretionary up by 2:45 EDT Thursday, the economically sensitive oil and banking sectors down and growth tech having a good day, the market was mixed. And that was reflected in the Dow leaders. The Dow was up 0.6% and the tech-heavy Nasdaq was up 0.9%. 

This comes as weekly jobless claims were 1.19 million, better than the expected 1.4 million, but still above the 1 million mark, where it has been sitting for over a month now. This points to a slowing recovery.

Here were the top 5 Dow leaders by 2:40:

Apple  (AAPL) - Get Report: +3.2%

Disney  (DIS) - Get Report: 2.9%

McDonalds  (MCD) - Get Report: +1.9%

Microsoft  (MSFT) - Get Report: 1.1%

Home Depot  (HD) - Get Report: +1%

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