History Says the Dow Jones Is Headed Higher: 2 Blue Chip Stocks to Buy Now and Hold for Years
The Dow Jones Industrial Average closed higher for 13 consecutive days in July amid signs of economic resilience. That winning streak hints at more gains in the remaining months of the year. In the past four decades, the blue-chip index has traded higher for at least 10 consecutive days only five other times, and it returned an average of 16.8% during the years in which those win streaks took place.
So what? The Dow Jones is up 6% year to date, but history says the index could add another 11% if the current year falls in line with the average. Here are two blue-chip Dow stocks to buy now -- and should benefit if that trend holds up.
Microsoft (NASDAQ: MSFT) beat expectations on the top and bottom lines in the fiscal fourth quarter (ended June 30). Revenue jumped 8% to $56.2 billion as strong growth in enterprise software and cloud services offset weakness in advertising and Windows licensing agreements, and GAAP earnings jumped 21% to $2.69 per diluted share.
Source Fool.com
