2023 Top Dow Jones Stocks To Buy And Watch In February

The Dow Jones Industrial Average finished the first month of 2023 in rebound mode, above its 50-day line and sharply off its mid-October lows, as the stock market continues to rebound. The top Dow Jones stocks to buy and watch in February 2023 are Apple (AAPL), Chevron (CVX), Goldman Sachs (GS), JPMorgan Chase (JPM) and Microsoft (MSFT).

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There are clear winners — and losers —at the start of February. The top three performing blue-chip stocks through January 2023 were Salesforce (CRM), Disney (DIS) and American Express (AXP), posting rallies of 26.7%, 24.9% and 18.4% through Jan. 31.

The worst three Dow Jones stocks in January 2023 were Johnson & Johnson (JNJ), Procter & Gamble (PG) and UnitedHealth Group (UNH), with respective declines of 7.5%, 6.1% and 5.8%.

The tech-heavy Nasdaq rose 10.7% through the first month of 2023, and the S&P 500 gained 6.2%. The Dow Jones Industrial Average added 2.8% through Jan. 31.

What Is The Dow Jones Industrial Average?

Founded in 1896 with 12 stocks, the Dow Jones Industrial Average is one of the oldest stock market indexes. There are 30 Dow Jones stocks designed to serve as a bellwether for the general U.S. stock market. Other major stock indexes include the technology-heavy Nasdaq composite and the S&P 500 index — an index of the 500 largest companies in the United States.

Best Dow Jones Stocks To Watch

Source: IBD Data As Of Jan. 31, 2023

Amid the current stock market rally — according to the IBD Big Picture — investors should focus on top stocks that show strong relative strength. These could be 2023 market leaders if the Dow Jones Industrial Average is able to extend recent gains.

The best Dow Jones stocks to watch in February that are in or near buy zones. They include Apple, Chevron, Goldman Sachs, JPMorgan and Microsoft.

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Apple Stock

Apple missed Wall Street’s sales and earnings targets for its fiscal first quarter, reported late Thursday. Apple stock raced nearly 3% higher Friday, hitting its highest level since late October.

According to the IBD Stock Checkup, Apple stock shows a 54 out of a best-possible 99 IBD Composite Rating. The Composite Rating — an easy way to identify top growth stocks — is a blend of key fundamental and technical metrics to help investors gauge a stock’s strengths.

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Chevron Stock Is A Dow Jones Stock Leader

Energy giant Chevron is forming a flat base with a 189.78 buy point. But shares are below their 50-day line after big losses this week.

CVX stock rose 0.5% Friday, on pace to snap a five-day losing streak.

Goldman Stock Approaches Double-Bottom Buy Point

Wall Street investment bank Goldman Sachs is building a double bottom with a 374.45 buy point amid strong gains in recent sessions.

Shares gained 0.3% Friday and are nearing their latest buy point.

JPMorgan Is One Of The Top Dow Jones Stocks

Banking giant JPMorgan is in the 5% buy range above a 138.76 flat-base buy point, after a 0.6% rise Tuesday, according to IBD MarketSmith pattern recognition. The 5% buy zone tops out at 145.70.

JPM shares traded up 1.3% early Friday.

Microsoft Stock

Software leader Microsoft declined 2.5% Friday, but is still above its 200-day line.

MSFT shares remain about 17% off their 52-week high.

Tip: Before making investment decisions, be sure to check current market conditions, and use IBD Stock Checkup to see if your stock gets good ratings for the most important fundamental and technical criteria. To get ongoing chart analysis and trading signals, check out the unique features, stock lists and chart annotations at MarketSmith, Leaderboard and SwingTrader.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on Dow Jones stocks and the stock market.

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