Why the Dow Is Rising Even Though Most Components Are Falling

Why the Dow Is Rising Even Though Most Components Are Falling

The Dow finally got a taste of this week’s tech stock rally thanks to a boost from Salesforce.

The blue-chip index was up 166 points, or 0.4%, even though 17 of its 30 stocks were falling. The S&P 500 was also up 0.4% as nearly 330 stocks in the index were declining. The Nasdaq Composite was up 1%.

Wall Street is once again favoring semiconductor stocks and shares of large technology firms after the group lagged in November. A wave of positive tech earnings headlined by Salesforce provided the latest catalyst. The Roundhill Magnificent Seven ETF, which provides exposure to the much-watched group of megacap tech stocks, was up another 1.2% today.