The Dow Jones (DJIA) is slightly in the red but remains less than 1% from its all-time high following positive trade developments over the weekend.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
President Trump and European Commission President Ursula von der Leyen have agreed to a 15% tariff on European Union imports, which include cars and auto parts. In addition, the EU will purchase $750 billion of U.S. energy and invest $600 billion into the U.S. by 2028.
“Today’s announcement opens up historic market access to the second largest economy in the world, reestablishing the strong positive long-term relationship between the United States and its key ally the European Union,” the White House said in a fact sheet.
Meanwhile, the South China Morning Post reported that China will likely receive another 90-day tariff extension from the U.S. during trade talks in Stockholm. During the extension, both sides have agreed to not initiate new tariffs or trade barriers, according to sources familiar with the matter.
Finally, Trump has proclaimed himself the “President of PEACE” after brokering a ceasefire between Thailand and Cambodia. Following threats of ending trade talks from Trump, Thailand agreed to halt its offensive against Cambodia.
The Dow Jones is down by 0.16% at the time of writing.
Which Stocks are Moving the Dow Jones?
Let’s pivot to TipRanks’ Dow Jones Heatmap, which illustrates the stocks that have contributed to the index’s price action.
Nvidia (NVDA) is once again flirting with an all-time high as the semiconductor leader shows no signs of slowing down. However, most Dow Jones tech companies are in the red today.
In the consumer cyclical sector, Nike (NKE) is up by about 4% after J.P. Morgan (JPM) lifted its price target for the footwear and apparel company to $93 from $64. NKE stock is now trading at its highest level in five months as it continues its recovery.
Elsewhere, industrial stocks are mostly trading higher. Disney (DIS) and Verizon (VZ), the two communication services stocks in the index, are in negative territory.
DIA Stock Moves Lower with the Dow Jones
The SPDR Dow Jones Industrial Average ETF (DIA) is an exchange-traded fund designed to track the movement of the Dow Jones. As a result, DIA is falling alongside the Dow Jones today.
Wall Street believes that DIA stock has room to rise. During the past three months, analysts have issued an average DIA price target of $488.13, implying upside of 8.77% from current prices. The 31 stocks in DIA carry 29 buy ratings, 2 hold ratings, and zero sell ratings.