Apple, Goldman Sachs, and Chevron are powering the Dow — for wildly different reasons: AlphaCheck

Apple, Goldman Sachs, and Chevron are powering the Dow — for wildly different reasons: AlphaCheck Jared Blikre Wed, July 15, 2026 at 8:15 PM GMT+2 2 min read ^DJI GS AAPL CVX AMZN The Dow Jones Industrial Index ( ^DJI ) has barely budged in July. Its leaders have broken away. Goldman Sachs ( GS ), Apple ( AAPL ), and Chevron ( CVX ) are up roughly 8% to 12%, powered by three trades that have almost nothing in common.

Apple is leading the Dow in July. The stock has added over half a trillion dollars in market value so far this month — nearing a $5 trillion valuation for the first time — and hit its 15th intraday record of 2026 on Wednesday. This embedded content is not available in your region.

Amazon ( AMZN ), Microsoft ( MSFT ), and Nvidia ( NVDA ) are also higher this month as the megacap rebound that began in late June keeps running. Yet Technology ( XLK ) remains July's weakest sector, showing how concentrated that strength has been. After surging above its previous record, Apple needs to hold $315 to confirm Monday's breakout.

Goldman Sachs is in second place this month after breaking above its June record following earnings. The stock has now risen more than 150% from its post-"Liberation Day" low in April, and its July rally is helping push Financial Services ( XLF ) nearly into a tie with Communication Services ( XLC ) for the month's best-performing sector. This embedded content is not available in your region.

The move extends beyond Goldman. Dow member JPMorgan ( JPM ) also notched its first record since June on Tuesday after reporting the highest quarterly profit in US banking history . Goldman also has extra sway over the Dow.

At more than $1,100, it is by far the index's highest-priced stock, giving it the greatest influence in a price-weighted index . The breakout holds as long as the stock stays above roughly $1,120. Chevron completes the trio.

The stock lost just over 20% over the three months following its late-March peak before crude oil and energy shares began to recover in July. This embedded content is not available in your region. Energy ( XLE ) ranks third among sectors this month, and Chevron has rebounded from roughly $165 to just below its 50-day moving average near $182.

Chevron opened Wednesday near that level before turning lower, marking its third straight failed challenge of the line. A break above the 50-day average would put $190 back in view, while a close below $180 could send the stock toward its 200-day moving average around $173. Though technically in fourth place in July, Salesforce ( CRM ) adds another dimension to the July leaderboard as software continues to mount a comeback this month.

The second half of July will show whether these moves mark a durable change in leadership or just an early-month rotation. Jared Blikre is the global markets and data editor for Yahoo Finance. Follow him on X at @SPYJared or email him at jaredblikre@yahooinc.

com.