@tomolovegrove, dividends. Where else can you even get 1.5% return? QQQ doesn't make sense but DJI, IWM, and SPY all pay >1.5%.
Edit: PCAR hit ATH because they pay decent dividends, that's what's been keeping MMM afloat, and you're gonna see IBM bounce back. These companies don't need to make record profits, just enough to pay dividends.