The Dow Jones (DJIA) is trading lower as a major summit between President Trump, Ukrainian President Volodymyr Zelenskyy, and other key European leaders kicks off. Notable attendees include European Commission President Ursula von der Leyen, French President Emmanuel Macron, and U.K. Prime Minister Keir Starmer.
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“We have never had so many European Leaders here at one time,” Trump said in a Truth Social post on Monday. “A great honor for America!!! Lets see what the results will be???”
Ahead of the meeting, Russian President Vladimir Putin proposed an end to frontline attacks on Ukraine if the country agrees to cede its Donbas region. Zelenskyy reiterated his opposition to giving up land, saying that Ukraine’s constitution prohibits it. In addition, Trump said that he would speak with Putin on the phone following Monday’s meetings, floating a trilateral meeting. “If we don’t have a trilat, then the fighting continues,” said Trump. “If we have a trilat, there’s a good chance of maybe ending it.”
The jobs market has shown signs of cracking, and more weakness could be on the horizon, warned Goldman Sachs. Earlier this month, the Bureau of Labor Statistics (BLS) surprised investors by revising May and June’s nonfarm payrolls lower by a combined 285,000 jobs.
“Our estimate of trend job growth is now clearly below even that low bar at 30k per month,” wrote Goldman Sachs economic analysts David Mericle and Jessica Rindels. “Future revisions to job growth are more likely to be negative.” The bank added that fewer immigrants, fewer government jobs, and a slowdown in the healthcare and education sectors could hammer job growth.
The Dow Jones is down by 0.12% 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.
UnitedHealth Group (UNH) is continuing its run higher after acclaimed hedge fund managers Warren Buffett and David Tepper disclosed positions in the company last week.
Meanwhile, tech stocks are muted on the day, with Nvidia (NVDA) leading to the upside. It appears that investors are waiting for developments from the Trump-Zelenskyy summit before making any major moves.
While Boeing (BA) is still up by about 34% year-to-date, shares of the airplane manufacturer are taking a hit in light of a machinist strike in the St. Louis area and the lingering effects of the Air India crash.
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 $497.23, implying upside of 10.76% from current prices. The 31 stocks in DIA carry 30 buy ratings, one hold rating, and zero sell ratings.