The Dow Jones (DJIA) opened Thursday’s trading session slightly lower, but has since rallied as investors look past President Trump’s new tariffs.
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Of the eight countries that received new tariffs on Wednesday, Brazil was hit the hardest with a 50% levy. This marks a significant increase from the initial 10% tariff announced by Trump on April 2. Brazilian President Luiz Inácio Lula da Silva promised to retaliate against the tariffs and pointed out that the U.S. has a trade surplus with Brazil rather than a deficit.
For the week ended July 5, initial claims for unemployment were 227,000, below the expectation for 235,000 and down from 232,000 during the previous week. However, continuing jobless claims, a measure of those receiving unemployment benefits, were 1.965 million, in line with the expectation. The data shows that companies aren’t laying off employees at an elevated rate, though they are also hesitant to hire.
“Tech Stocks, Industrial Stocks, & NASDAQ, HIT ALL-TIME, RECORD HIGHS! CRYPTO, ‘Through the Roof.’ NVIDIA (NVDA) IS UP 47% SINCE TRUMP TARIFFS,” said Trump in a Truth Social post on Thursday. Trump also maintained his opinion that the Fed should immediately lower interest rates while adding that the U.S. is “back.”
The Dow Jones is up by 0.57% 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 made history on Wednesday after becoming the first company to reach a $4 trillion market capitalization. However, the semiconductor leader is taking a breather today after rising by about 13% during the past month.
It’s not just NVDA, as tech peers Microsoft (MSFT), Salesforce (CRM), and Cisco (CSCO) are trading lower as well.
Fortunately, other sectors are buoying the Dow Jones. Three of the four healthcare stocks in the index are in the green while the financial sector is trading higher too. Meanwhile, Amazon (AMZN) is continuing its poor performance as data shows its Prime Day sales have dropped on a yearly basis.
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 $470.42, implying upside of 5.19% from current prices. The 31 stocks in DIA carry 30 buy ratings, 1 hold rating, and zero sell ratings.