The Dow’s rally is broadening as first-half laggards catch up

• The Dow Jones Industrial Average snapped a 13-day winning streak on Thursday.
• But the breadth of its latest rally has widened beyond Big Tech, a sign that gains are looking more sustainable. 
• Microsoft accounted for two-thirds of the Dow’s first-half gains, but laggards are catching up, DataTrek notes. 

The Dow Jones Industrial Average is drawing strength from all corners of the index right now after mostly relying on Big Tech names during the first half of 2023. 

In a Friday note to clients, DataTrek Research highlighted that, despite the Dow snapping its 13-day win streak the day before, the wider breadth that fueled the rally should give investors reason for optimism. Rather than relying on a small batch of notables to do the heavy lifting, a majority of the index has turned green.