In a volatile start to the new year, the Dow Jones (DJIA) opened in the green before falling into negative territory and then recovering to the upside.
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On New Year’s Eve, President Trump announced that he would delay tariff hikes on upholstered furniture and kitchen cabinets by one year. Last September, he raised the tariff rates on the items to 25% and said that the rates would increase on January 1, 2026.
“Given the ongoing productive negotiations regarding the imports of wood products, the President is delaying the tariff increase to allow for further negotiations to occur with other countries,” read a White House fact sheet.
Meanwhile, U.S. manufacturing activity slowed in December but remained in growth mode. The S&P Global Manufacturing Purchasing Managers’ Index (PMI) came in at 51.8, in line with the consensus estimate but falling from 52.2 in November. A reading above 50 implies expansion, while a reading below 50 implies contraction. S&P Global Market Intelligence Chief Business Economist Chris Williamson noted that the manufacturing sector resembles a “Wiley E Coyote scenario,” marked by consistent goods production despite lower orders.
Looking ahead, ADP will publish its private payrolls report next Wednesday, followed by Bureau of Labor Statistics (BLS) jobless claims data on Thursday.
The Dow Jones is up by 0.19% 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 off to a good start, although every other tech stock within the index, along with Amazon (AMZN), is trading lower.
Industrial stocks are leading the way higher, with Caterpillar (CAT) and Boeing (BA) both up by over 3%. On New Year’s Eve, the Pentagon announced that it had awarded Boeing a $2.7 billion contract for services on Apache helicopters.
Elsewhere, UnitedHealth Group (UNH) is up by nearly 2%, while Goldman Sachs (GS) is the top-performing financial stock.
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 $538.31, implying upside of 11.72% from current prices. The 30 holdings in DIA carry 29 buy ratings, one hold rating, and zero sell ratings.
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