The Dow Jones (DJIA) is mounting a recovery after Friday’s fall and is up by over 1% as trade developments continue to pour in.
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Following a U.S.-EU trade agreement last week, the EU has agreed to suspend all of its countermeasures targeting U.S. tariffs for six months in order to negotiate a more comprehensive deal.
“The EU continues to work with the U.S. to finalise a Joint Statement, as agreed on 27 July,” said a spokesperson for the 27-nation bloc on Monday. “With these objectives in mind, the Commission will take the necessary steps to suspend by 6 months the EU’s countermeasures against the US, which were due to enter into force on 7 August.”
The U.S. has also made trade progress with China and is “about halfway there” in securing a rare earth agreement with China, said U.S. Trade Representative Jamieson Greer. Rare-earth elements are important components in the production of everyday electronics, such as smartphones, cars, and computers.
In other trade news, President Trump has said that he will “substantially” raise India’s tariff rate, accusing the country of buying Russian oil and then selling it on the open market in order to turn a profit. “They don’t care how many people in Ukraine are being killed by the Russian War Machine,” Trump said in a Truth Social post. “Because of this, I will be substantially raising the Tariff paid by India to the USA.”
The Dow Jones is up by 1.27% 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) is leading all Dow Jones tech stocks to the upside, while Apple (AAPL) is also in the green after its July App Store revenue grew by 13%, the most since Nov. 2024. Magnificent 7 member Amazon (AMZN) is trading lower following a weaker-than-expected earnings report.
Elsewhere, all five financial stocks within the Dow Jones are rising higher. In addition, Disney (DIS) is in positive territory ahead of its earnings report before the market open on Wednesday, August 7. Earlier today, DIS stock received a boost from Morgan Stanley (MS) after the investment bank hiked its price target to $140 from $120.
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 $492.57, implying upside of 11.58% from current prices. The 31 stocks in DIA carry 29 buy ratings, 2 hold ratings, and zero sell ratings.