Dow Jones Index Today: DJIA Drops on Manufacturing Data, Impending Trump-Xi Call

The Dow Jones (DJIA) is falling lower on the first trading day of the month as investors digest May’s manufacturing data with a phone call between President Trump and China President Xi likely in the cards this week.

This morning, S&P Global’s Manufacturing Purchasing Managers’ Index (PMI) for May showed a reading of 52.0, below the expectation for 52.3 and rising from 50.2 in April. A reading above 50 signals expansion while a reading below 50 indicates contraction. Underneath the surface, businesses front-running tariffs and placing orders in elevated volumes contributed to the manufacturing growth, said S&P Global.

Meanwhile, within the Institute for Supply Management’s (ISM) U.S. manufacturing PMI, imports fell to 39.9, a reading not seen since the Great Recession in 2009. Tariffs, the usual suspect, was responsible for the drop as businesses reduced their imports as a result of higher duties.

Finally, Trump will likely speak with China President Xi Jinping on the phone this week, according to CNBC. The potential call comes as trade tensions rise between the two world powers, with Trump accusing China of violating the U.S.-China preliminary trade agreement made in Geneva last month.

The Dow Jones is down by 0.38% at the time of writing.

Which Stocks are Moving the Dow Jones?

Let’s pivot to TipRank’s Dow Jones Heatmap, which illustrates the stocks that have contributed to the index’s price action.

The index is having a quiet day as investors prepare for what will likely be another week of trade and tariff headlines. Nvidia (NVDA) is leading the tech sector with a 1.72% gain while Salesforce (CRM) is trailing behind with a 1.38% loss.

Industrial stocks, like Caterpillar (CAT) and Honeywell (HON), are in the red from weak manufacturing imports, although Boeing (BA) is bucking the trend with a 1.20% rise.

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 $464.94 for the stocks within the index, implying upside of 10.22% from current prices. The 31 stocks in DIA carry 30 buy ratings, 1 hold rating, and zero sell ratings.