Last quarter's rally was fueled by optimism, Jim Cramer told his Mad Money viewers Thursday. Many companies are doing a lot better than investors expected, he said, and that's driving new money into stocks.
Who were the top 10 companies contributing to the Dow Jones Industrial Average's big move last quarter? Cramer ticked down the biggest names.
Topping the list was Boeing (BA) , which continues to win orders and defy the negative analysts. Second was Caterpillar (CAT) , which delivered a blowout quarter that few saw coming. Third was Goldman Sachs (GS) , which is benefiting from deregulation and multiple expansion at the same time.
Fourth was an unexpected name: Chevron (CVX) , which has found a way to navigate an otherwise difficult environment to a profitable quarter with plenty of cash to pay its dividend.
Visa (V) clocked in at No. 5, as this solid performer's business continues to hum along. Home Depot (HD - Get Report) was next on the list, helped along by the rebuilding for two hurricanes, followed by UnitedHealth Group (UNH - Get Report) , which benefited from the implosion of repeal-and-replace.
Eighth was Apple (AAPL). Apple was followed by American Express (AXP) , a stock that's been disliked for ages but was able to start delivering again for shareholders. Finally, there's Microsoft (MSFT - Get Report) , which benefited from its Azure cloud platform.
All of these names offer good dividends, Cramer noted, along with international sales. They also are major holdings in most index funds, the same funds that are turning skeptics into believers.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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