The Dow Jones (DJIA) is trading slightly in the red following encouraging developments from the fourth round of trade talks between the U.S. and China.
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President Trump said that the talks had progressed “very well” in a Truth Social post on Monday and further lifted sentiment by saying that he would speak with Chinese President Xi Jinping on Friday. The two leaders will likely discuss tariffs between the two countries as the 90-day tariff pause, which ends on November 10, approaches. Treasury Secretary Scott Bessent, who led the meeting from the U.S. side, said that another 90-day tariff extension before November is on the table.
Furthermore, Bessent explained that the countries agreed to a “framework” deal for TikTok ahead of the app’s ban in the U.S. on September 17. U.S. Trade Representative Jamieson Greer added that the deadline could be extended in order to allow for more time to sign a deal.
Meanwhile, Trump has pushed for U.S. publicly listed companies to report earnings twice a year instead of quarterly, arguing that it would help save costs and allow executives to run operations more efficiently.
“This will save money, and allow managers to focus on properly running their companies,” Trump said in a Truth Social post. “Did you ever hear the statement that, ‘China has a 50 to 100 year view on management of a company, whereas we run our companies on a quarterly basis???’ Not good!!!”
The Dow Jones is down by 0.03% 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) has erased most of its early morning losses after Chinese regulators accused the company of violating China’s anti-monopoly law in connection with Nvidia’s 2020 acquisition of Mellanox. In addition, the semiconductor leader also inked a $6.3 billion cloud computing deal with CoreWeave (CRWV). However, International Business Machines (IBM) is leading all tech stocks to the upside, pushing its year-to-date return to about 17%.
Elsewhere, Amazon (AMZN) is trading higher, shrugging off a U.S. Federal Trade Commission (FTC) investigation over the e-commerce company’s advertising auctions.
It’s a relatively quiet day for most sectors within the Dow Jones, with a majority of the stocks trading between -1% and +1%.
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 $501.97, implying upside of 9.24% from current prices. The 31 stocks in DIA carry 29 buy ratings, two hold ratings, and zero sell ratings.
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