Oklahoma's corporate giants powered by energy
The Dow set a record high, but a little-known index of Oklahoma's publicly traded companies is humming along at less than record levels.
While it's true that Dow 14,253.77 is just a number, it represents an amazing comeback from a time not so long ago when the average investor was fleeing Wall Street.
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.
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