The Dow Jones (DJIA) is less than 1% away from securing a new record-high as trade deal optimism grows ahead of the August 1 deadline.
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This morning, President Trump noted that trade negotiations were going well with China, the European Union, and the United Kingdom. Trump is scheduled to meet with European Commission President Ursula von der Leyen on Sunday and UK Prime Minister Keir Starmer on Monday to discuss tariffs. In addition, another round of trade talks between representatives from the U.S. and China will begin next week.
On the other hand, Trump is preparing nearly 200 new tariff letters for the countries that have not engaged in negotiations with the U.S. These tariffs will be set at either 10% or 15%. What’s more, Trump said that there’s “not a lot of negotiating with Canada,” the second-largest single-country trading partner with the U.S.
Trump’s tariffs have resulted in U.S. tariff revenue exceeding $100 billion for the first time in a fiscal year. That could lead to rebate checks for Americans. “We’re thinking about that actually — we have so much money coming in, we’re thinking about a little rebate,” Trump said at the White House on Friday. “A little rebate for people of a certain income level might be very nice.”
The Dow Jones is up by 0.40% 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.
Microsoft (MSFT) is leading all tech stocks within the index and is back in the green after announcing earlier this week that its SharePoint collaboration software was accessed by Chinese hackers. Every other tech stock is within the -1% to +1% range.
UnitedHealth Group (UNH) is recovering after the healthcare company announced that the Department of Justice had launched an investigation into its Medicare billing practices. UNH stock has shed about 44% year-to-date.
Finally, financial stocks are set to cap off the week in the green following a slew of big bank earnings.
DIA Stock Moves Higher 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 rising 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 $492.14, implying upside of 9.67% from current prices. The 31 stocks in DIA carry 29 buy ratings, 2 hold ratings, and zero sell ratings.