These Two Stocks Are Driving the Dow Friday
Though more than half of the stocks that make up the Dow Jones Industrial Average were rising on Friday, the bulk of its gains were driven by Amgen and Apple.
The Dow was up 524 points, or 1.4%, in recent trading. Amgen stock was up 12.4% after the firm provided an encouraging update on injectable obesity drug MariTide. With recent gains, Amgen added around 234 points to the Dow, alone.
Apple stock rose more than 6% on an earnings announcement that included stock buybacks. It added 77 points to the Dow.
In other words, the rest of the 30-component Dow was up just 213 points. While the jobs report sent bond yields retreating and stocks rising, it wasn’t the only news driving the Dow’s gains.