Oklahoma's corporate giants powered by energy

The Dow Jones industrial average's new benchmark high set Tuesday reflects the health of some of the nation's corporate giants, and a growing confidence among investors who are pouring money into mutual funds at the fastest clip in more than a decade.

The economy, generously spurred by federal spending and record-low interest rates, has been slowly healing since the collapse of 2008, although the recovery of some aspects — particularly employment — remain stubbornly sluggish.

The Dow is composed of just 30 companies, including many household names that employ Oklahomans or are regularly patronized by Oklahomans — Walmart, McDonald's, Boeing, Proctor and Gamble, AT&T and Home Depot, among them.

The success of those massive corporations drives the Dow, and they deservedly receive a major share of attention surrounding the stock market.

But none of the Dow members are based in the Sooner state.

There is a little-known index of state-based companies — the Spade Oklahoma Index — that tracks the performance of our largest, publicly traded hometown firms. The Spade Oklahoma Index, like the Dow, has been on the upswing.