Why the Dow Is Lagging Behind the S&P 500 Today
The Dow Jones Industrial Average lagged behind the S&P 500 in Monday afternoon trading. The Dow was weighed down by Amgen, while the S&P 500 benefitted from a chip stock rally.
The Dow rose just 57 points, or 0.2%. The S&P 500 was up 0.6%. The Nasdaq Composite was up 0.8%.
More than half of the 30 stocks that make up the Dow were rising, but Amgen’s 4.1% decline subtracted 83.83 points from the Dow in Monday trading, according to Dow Jones Market Data. The stock was due for a pullback after surging 15% last week.
On the flip side, the S&P 500 saw strength in all but two of its major sectors. Energy, industrials and technology were leading the pack. The top stocks in the index were Super Micro Computer, up 5.2%, Quanta Services, up 5%, and Micron Technology, up 4.7%. Aptiv, Uber Technologies, Southwest Airlines, Etsy, Advanced Micro Devices, Nvidia, and Western Digital rounded out the S&P 500’s top ten stocks. None of those stocks are in the Dow.