The U.S. stock market had a rough start to 2022 with a market correction hitting stocks and many indexes seeing their worst performances in decades.
What Happened: The S&P 500, as tracked by the SPDR S&P 500 ETF Trust (ARCA:SPY (NYSE:SPY)), saw a decline of 20.8% in the first half of 2022. This marked the largest first half decline for the index since 1970.
The Dow Jones, which is tracked by the SPDR Dow Jones Industrial Average ETF Trust (ARCA:NYSE:DIA), ended the first half of the year down 15.5%.
The index includes 30 of the country’s largest corporations split among a series of diverse sectors.
Here are the eight stocks in the Dow Jones that are positive year-to-date in 2022 through June 30:
- Chevron Corp (NYSE: NYSE:CVX): +23.4%
- Merck & Co., Inc. (NYSE: MRK): +19.0%
- Amgen, Inc. (NASDAQ: NASDAQ:AMGN): +8.2%
- Travelers Companies (NYSE: NYSE:TRV): +8.1%
- Coca-Cola Co (NYSE: NYSE:KO): +6.3%
- International Business Machines (NYSE: NYSE:IBM): +5.6%
- Johnson & Johnson (NYSE: JNJ): +3.8%
- UnitedHealth Group Inc (NYSE: NYSE:UNH): +2.2%
What Happened: Similar to the S&P 500 gainers for the first half of the year, an oil company led the way with Chevron up 23.4% for the year.
The list of eight stocks show some diversity across industries such as energy, consumer goods, technology and healthcare.
The stocks that saw gains in the first half of 2022 could also be showing the trend of investors searching for value companies instead of high-growth names. The companies on the list have been around for years, have shown revenue and earnings growth, and pay out dividends.
Of the eight stocks with gains in the first half of the year, four pay dividend yields of 3% or more and seven pay dividend yields of 2% or more.
On the flip side, the biggest decliners of the Dow Jones components in the first half of 2022 were:
- Walt Disney Co (NYSE: NYSE:DIS): -39.1%
- Nike Inc (NYSE: NYSE:NKE): -38.8%
- Salesforce Inc (NYSE: CRM): -35.1%
- Home Depot (NYSE: NYSE:HD): -33.9%
- Cisco Systems Inc (NASDAQ: NASDAQ:CSCO): -32.7%
Of the bottom six components in year-to-date return, three pay no dividends and the other three pay 1.2%, 2.8% and 3.6%. This could signal the continued trend of value stocks over growth stocks, even when it comes to some of the largest companies in the country.
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