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the dow jones industrial average djia or simply the dow ˈ d aʊ is a stock market index that shows how 30 large publicly owned companies based in the united states have traded during a standard trading session in the stock market the value of the dow is not a weighted arithmetic mean and does not represent its component companies market capitalization but rather the sum of the , q4 2017 headline earnings were hit badly by us tax changes the declines started to reverse with q1 2018 earnings and should continue as q2 earnings are repor, according to birinyi associates inc the 12month forward djia pe multiple based on last fridays price djia is estimated at 1635 to achieve this the djia earnings will need to rise 49 , the dow jones industrial average cited the industrials sector waning significance to the economy in dropping ge but it is the djia itself that is irrelevant adding walgreens as general electric