The Dow Jones (DJIA) is trading slightly lower on Friday ahead of an extended market closure weekend.
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The Senate voted 82-15 to approve a roughly $174 billion three-bill spending package, making progress on avoiding a government shutdown on January 30. The package provides funding for several areas, including the Justice, Interior, and Commerce departments, as well as the Environmental Protection Agency.
With six spending bills approved, Congress must still pass another six in order to avoid a shutdown, including a contested Department of Homeland Security package following the fatal shooting of 37-year-old Minnesota resident Renee Good at the hands of an Immigration and Customs Enforcement (ICE) agent.
Meanwhile, the odds of President Trump nominating White House National Economic Council Director Kevin Hassett plummeted after Trump signaled that he would like Hassett to remain in his role. “I actually want to keep you where you are,” Trump said in a reference to Hassett, adding “we don’t want to lose him.” Following the comments, Hassett’s odds plunged to 16% from 31%, while former Fed Governor Kevin Warsh’s odds surged to 60% from 34%.
Finally, U.S. special envoy to Greenland Jeff Landry told Fox News that a U.S.-Greenland acquisition deal “should and will be made once this plays out.” Landry’s comments came shortly after a group of 11 bipartisan lawmakers landed in Copenhagen, Denmark to meet with Danish and Greenlandic leaders to discuss U.S.-Greenland relations. “Greenland needs to be viewed as our ally, not as an asset,” said Alaska Senator Lisa Murkowski during the event.
The Dow Jones is down by 0.05% 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.
It’s been a rough start to the year for Salesforce (CRM), with today’s loss bringing its year-to-date drop to nearly 10%. Microsoft (MSFT) has also disappointed as of late with a year-to-date decline of 2.5%.
Elsewhere, JPMorgan Chase (JPM) and American Express (AXP) are leading the financial sector higher following a busy week of bank earnings. Goldman Sachs (GS), which reported its earnings yesterday and gapped higher, is giving up some of its gains.
Finally, Verizon (VZ) is down by about 1% following a nationwide outage affecting thousands of customers, while Honeywell (HON) is the only industrial stock in the green.
Is DIA Stock a Good Long-Term Investment?
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 $541.34, implying upside of 9.62% from current prices. The 30 holdings in DIA carry 29 buy ratings, one hold rating, and zero sell ratings.
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