The Dow Jones Industrial Average (DJIA), or simply known as “Dow”, is a widely-watched benchmark index in the US for blue chip stocks. The DJIA is a price-weighted index that tracks 30 large, publicly-owned companies trading on the New York Stock Exchange (NYSE) and the Nasdaq. The index was created by Charles Dow, the founder of the Wall Street Journal in 1896 to serve as a proxy for the broader US economy.The value of the index is the sum of the price of one share of stock for each component company divided by a factor, which changes whenever one of the component stocks has a stock split or stock dividend, so as to generate a consistent value for the index.It is the second-oldest US market index after the Dow Jones Transportation Average. In 2012, the Dow Jones Indexes were bought by S&P Dow Jones Indices LLC. It's a joint venture between S&P Global, the controlling member, and the CME Group.
The technology sector weighed the most on the benchmark S&P 500. Healthcare, materials and energy stocks extended gains from the previous session.
The Dow Jones Industrial Average rose 505.5 points, or 1.63%, at the open to 31,437.76.
Industrials led rising sectors in the S&P 500, spurred by a 9.9% surge in Deere & Co and Caterpillar's 5.0% gain to an all-time peak of $211.40 a share. Financials, materials and energy, along with industrials, rose more than 1%.
Nvidia Corp rose 3.2% and Intel Corp 3.1%, making technology the leading sector to gain on the S&P 500 and Nasdaq. Declining shares outnumbered gainers on the Nasdaq and New York Stock Exchange.
All three main indexes bounced back from losses earlier in the day, with investors in recent sessions spooked by rising interest rates that offset optimism about an economic rebound.
After the data, the benchmark 10-year US Treasury yields hit a new one-year high of 1.626%. Rate-sensitive bank stocks rose about 1.6% on prospects of an improved economic outlook.
The Nasdaq nearly wiped out all of its year-to-date gains and was down about 8% from its record closing high on Feb. 12. A 10% decline would confirm a correction territory.
The Dow Jones Industrial Average fell 119.98 points, or 0.38 per cent, to 31,271.54, the S&P 500 lost 50.51 points, or 1.31 per cent, to 3,819.78
The yield on the 10-year US Treasury note continued to decline Tuesday, but investors are grappling with the chance that inflation could rise if President Joe Biden' $1.9 trillion stimulus plan is passed.
3M Co climbed 3.26% as one of the biggest boosts on the Dow after it benefited from lower costs and demand for disposable respirator masks, hand sanitizers and safety glasses amid a surge in coronavirus infections.
Johnson & Johnson ended up 0.5%, but off earlier highs, after it began shipping its single-dose vaccine after it became the third authorized COVID-19 vaccine in the United States over the weekend.
Shares of Amazon.com Inc, Microsoft Corp and Alphabet Inc edged up between 0.4% and 1%, but were headed for their worst week in months.
The benchmark 10-year Treasury yields hit a one-year high of 1.614%, prompting investors concerned about rich valuations to lock in profits on some high-flying growth stocks.
Powell told lawmakers on Wednesday it may take more than three years to reach the central bank's inflation goals, a sign the Fed plans leave interest rates unchanged for a long time to come.
The Dow and S&P 500 recouped early losses after Federal Reserve Chair Jerome Powell reiterated in testimony before the Senate Banking Committee that monetary policy would remain accommodative and would not change without advance warning.
Market-leading growth stocks, which thrived amid pandemic-related lockdowns, weighed on stocks for much of the day as investors favored shares that stand to gain most as ongoing vaccine deployment allows economic restrictions to be lifted.
U.S. benchmark 10-year Treasury yields were up at 1.363% . Since the beginning of February, 10-year yields have risen about 26 basis points, on track for their largest monthly gain in three years.
The Nasdaq outperformed as investors favored tech-related, market-leading stocks that have fared well during the pandemic, while economically sensitive cyclical stocks weighed.
Wall Street opened higher on Tuesday as the formal go-ahead for President-elect Joe Biden's transition to the White House ended weeks of political uncertainty, while Tesla surged 3.3% to cross $500 billion in market capitalization for the first time. The Dow Jones Industrial Average rose 323.84 points, or 1.09%, at the open to 29,915.11.Dow Jones jumps over 300 pts on Biden transition, rebound hopes
The Dow Jones Industrial Average fell 119.68 points, or 0.38%, to 31,493.34, the S&P 500 lost 17.36 points, or 0.44%, to 3,913.97 and the Nasdaq Composite dropped 100.14 points, or 0.72%, to 13,865.36.
Technology shares led losses on the S&P 500 and Nasdaq. Apple Inc, PayPal Holdings Inc and Nvidia Corp weighed most on both indexes. The S&P 500 tech index ended 1% lower.
The Nasdaq, however, dipped as technology stocks moved lower, while concerns over rising interest rates kept the benchmark S&P 500 little changed.
This recognition demonstrates DLF's track record for its governance, social and environmental initiatives.
DLF is the only real estate company from India to be included in the DJSI index and it joins the ranks of 11 companies from India to be recognised for the benchmark for Corporate Sustainability.
The major indices traded in a tight range during the week in which investors rotated out of growth-oriented stocks that have dominated an almost year-long rally and bought cyclical and under-priced value stocks.
Stocks shrugged off remarks by Federal Reserve Chairman Jerome Powell, who reassured investors that interest rates will remain low for some time to spur the economy and jobs growth, but provided no new insights on monetary policy.
The tech-heavy Nasdaq hit an all-time high for the fifth consecutive session on early gains in Apple Inc, Amazon.com Inc and Google-parent Alphabet Inc, which later turned lower amid a shift in portfolio allocations.
All three major U.S. stock indexes gained ground, with the S&P 500 and the Dow posting their sixth consecutive gains, their longest winning streak since August. Small-caps, set to benefit most from the economic rebound, outperformed their larger peers.
The Dow Jones Industrial Average rose 158.93 points, or 0.57%, at the open to 27,940.63.
Initially, the bank planned to apply the new pay structure broadly. But veterans in investment banking and trading revolted upon hearing they’d have to stay through 2024 to reap bonuses for 2020, and management agreed to exempt them.
While stocks tend to perform well in the closing days of December, a phenomenon known as the Santa Claus rally, the resurgent pandemic and upcoming Senate runoffs in Georgia have clouded the outlook this year.
Economically vulnerable cyclical stocks, which were battered by mandated shutdowns and stand to benefit most from economic recovery, were outperforming.
“With the introduction of biodiesel blends, we are significantly contributing towards the reduction of GHG emissions by introducing a suitable alternate green fuel that helps achieve our parent, LafargeHolcim’s sustainability vision of net zero pledge 2030,” said the managing director of Ambuja Cements, Neeraj Akhoury.
Both the Dow Jones industrial average and S&P 500 rose for a fifth straight session in their longest streak of gains since August, while the S&P 500 and Nasdaq posted record closing highs for a second day in a row.
"Today the market is catching its breath," said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina. "It's digesting the two big pieces of news we've gotten in the last 24 hours, the stimulus and the new COVID strain."
The Nasdaq dipped slightly to join the S&P 500 in the red, but financials helped the blue-chip Dow reverse course for a modest gain.
The Dow and S&P 500 rose for a fourth straight day, with investor hopes of further progress on a pandemic-relief package also boosting the market. Democrats in the U.S. Senate were poised to take a first step toward the ultimate passage of President Joe Biden's $1.9 trillion COVID-19 relief proposal.
Alphabet shares ended up 7.3% and provided the biggest boost to the S&P 500. The Google parent late Tuesday posted results that topped quarterly sales expectations for its advertising and Cloud businesses, helped in part by the pandemic.
US stocks fell sharply on Monday as surging coronavirus cases and a stalemate in Washington over the next fiscal aid bill darkened the economic outlook in the run up to the Nov. 3 presidential election. New infections have touched record levels in the United States, with El Paso in Texas asking citizens to stay at home for the next two weeks. In Europe, Italy and Spain imposed new restrictions.Dow Jones plunges over 600 pts on rising coronavirus cases in US
While Amazon.com Inc ended the regular session up 1.1%, the company shocked investors after the bell with news that Jeff Bezos would move to the role of executive chairman in the third quarter and be replaced by Amazon Web Services head Andy Jassy as chief executive officer.
Top Republicans and Democrats grew closer to agreeing on a fresh round of aid in response to a crisis that has killed nearly 309,000 Americans and thrown millions out of work.
The iShares Silver Trust ETF - the largest silver-backed ETF - jumped 7.1%. Silver prices climbed to an eight-year peak of just over $30 an ounce before paring gains.
Stocks traded in positive territory after the Fed promised to keep funneling cash into financial markets to fight the recession, even as policymakers' outlook for next year improved following initial rollout of a coronavirus vaccine.
Johnson & Johnson fell 3.56% as one of the biggest weights on both the Dow and S&P500 after the drugmaker said its single-dose vaccine was 72% effective in preventing COVID-19 in the United States, with a lower rate of 66% observed globally.
The Dow Jones Industrial Average rose 79.28 points, or 0.29%, at the open to 27,613.86.
Heavyweights, including Microsoft Corp, Amazon.com and Alphabet Inc, were among the biggest boosts to the S&P 500, a day after the three major U.S. indexes suffered their biggest daily percentage drop in three months.
After briefly paring losses, declines accelerated in the wake of the policy statement from the Federal Reserve. The central bank kept overnight interest rate near zero and made no change to its monthly bond purchases, as was widely expected, and pledged to keep that support intact until a full economic rebound is in place.
Securities from 10 Chinese companies will be deemed ineligible from equity indices prior to the market open on Dec 21, the index provider said.
A flood of money supply, ultra-low or zero interest rates and COVID-19 vaccine rollouts have sparked a 'buy everything' rally, helping world stocks add a whopping $33 trillion in value from their lows of last March.
Johnson & Johnson rose 1.73% to help lift both the Dow and S&P 500 after the company said it could obtain late-stage trial results of a single-dose COVID-19 vaccine it is developing in January, earlier than expected.
Equity markets have scaled record highs in recent days on bets vaccines will start to reduce infection rates worldwide and on a stronger U.S. economic recovery under President Joe Biden.
Vedanta signed the declaration, along with more than twenty top private companies, which have aligned themselves with India’s commitment under the Paris Agreement.
The so-called "stay-at-home" winners including Microsoft Corp, Facebook Inc and Apple Inc rose between 1.7% and 4.3%, following upbeat results from Netflix Inc last week.
The tech-heavy Nasdaq advanced to close at a record, as several of its largest constituents, including Apple and Facebook Inc, rose. Still, a decline in names such as Alphabet and Microsoft kept major averages in check.
Harvey joined the latest episode of the “What Goes Up” podcast to discuss why he’s not ready to throw in the towel on his conservative target.
The stock is merely 1.63 per cent away from its 52-week high of Rs 405 seen a year ago.
The Labor Department's closely watched report showed nonfarm payrolls increased by 245,000 jobs in November, below economists' expectations of 469,000 jobs and the smallest gain since the labor recovery started in May.
Tesla was Wall Street's most traded stock by value, with about $25 billion worth of shares exchanged, according to Refinitiv data, more than double Boeing, in second place.
Republicans and Democrats in Congress remained unable to reach agreement on fresh relief for a pandemic-hit U.S. economy, although some investors said bad economic news could spur policy makers to push harder for a deal.
Investors stayed focused on updates about a handful of vaccine candidates and the start of global shipments as drugmakers submit paperwork for regulatory approvals.
Shares of the world's largest streaming service Netflix surged 16.85% after the company said it would no longer need to borrow billions of dollars to finance its TV shows and movies.
IHS Markit jumped 7.4% after data giant S&P Global agreed to buy the financial information provider in a $44 billion deal that would be the biggest corporate acquisition of 2020.
President-elect Joe Biden, who will be sworn into office on Wednesday, outlined a $1.9 trillion stimulus package proposal last week to jump-start the economy and accelerate the distribution of vaccines.
After recessions in 1992, 2002 and 2009, price-earnings ratios fell as growth resumed and stocks still managed to rise -- in each case with the help of Federal Reserve stimulus.
The S&P 500 and the Dow Jones Industrial Average retreated from record closing highs, pulled lower by cyclicals and small caps that drove the rally earlier in the week.
While the biggest benchmarks for US equities fell, smaller and more speculative corners posted solid gains. Fueled by day traders, volume in penny stocks exploded, and bullish options saw the second-busiest day ever.
Of the 11 major S&P sectors, 10 gained ground, led by economically sensitive stocks such as financials, materials and energy, while industrials hit a record.
The S&P 500 banks index lost ground as shares of Wells Fargo & Co, JPMorgan Chase & Co and Citigroup Inc tumbled even though they had posted better-than-expected fourth-quarter profits. The bank sector had rallied sharply in recent days.
Cyclical sectors led gains, with energy ahead by more than 5% and industrials and financials each up more than 1%, as data showed monthly business activity expanded at the fastest rate in more than five years.
The Labor Department's weekly jobless report showed the number of Americans filing first-time claims for unemployment benefits increased more than expected last week, underscoring the impact of a resurgence in COVID-19 infections.
U.S. Treasury yields fell after rising for six straight sessions, giving a boost to rate-sensitive defensive sectors such as utilities and real estate, while economically sensitive cyclical sectors lagged.
Throughout the week, the ebb and flow of vaccine news and spiking infections had investors oscillating between economically-sensitive cyclical stocks and pandemic-resistant market leaders.
U.S. Treasury yields climbed and the small cap Russell 2000 finished up 1.8% at a record high, after outperforming throughout the session, along with the cyclical financial and energy sectors, which are heavily dependent on a strong economy for growth.
All three major stock indexes got a healthy boost after Senate Minority Leader Chuck Schumer said Senate Majority Leader Mitch McConnell had agreed to revive talks to craft a new fiscal relief package.
But some investors worried stimulus could be delayed as House Democrats introduced a resolution to impeach U.S. President Donald Trump, accusing him of inciting insurrection following a violent attack on the Capitol by his supporters.
The market held its gains, even as the rioters — incited by the president of the United States — stormed the Capitol and forced members of Congress to flee for safety.
Stocks are still riding Wall Street's post-election wave Thursday, and the S&P 500 is rallying 2% toward its biggest weekly jump since April. The Dow Jones Industrial Average was up 475 points, or 1.7%, at 28,323, as of 9:54 a.m. Eastern time, and the Nasdaq composite was 2.4% higher.Dow Jones extends rally, rises over 400 pts as Blue Wave risks fade
Whether they maintain that momentum depends on the success of President-elect Joe Biden’s agenda, Federal Reserve monetary policy and how quickly Covid-19 is brought to heel.
The latest rally in the Dow, S&P 500 and Nasdaq overcame labor market data early in the day that showed the U.S. economy shed jobs for the first time in eight months in December as the country buckled under the COVID-19 onslaught.
After a volatile trading week where the market was whipsawed between hopes and fears around the virus, Cisco Systems Inc provided the biggest boost to the S&P 500 after its quarterly report showed a work-from-home driven surge in demand.
The Dow, S&P 500 and Nasdaq all set new highs amid growing calls for President Donald Trump's removal, one day after Trump supporters stormed the U.S. Capitol in a harrowing assault on American democracy.
The blue-chip Dow was pulled down by industrial and financial companies sensitive to economic growth, with Boeing Co and Goldman Sachs each down more than 2%.
After falling sharply for two days, the tech-heavy Nasdaq was boosted by "stay-at-home" stocks such as Microsoft , Amazon.com Inc, Apple Inc and Netflix Inc, which advanced in Wednesday's session.
"It hasn't been a sharp market drop. There have been buyers coming in as well. This is a bit shocking visually to see this unfold on television," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.
The Dow Jones Industrial Average rose 262.95 points, or 0.9%, to 29,420.92, the S&P 500 lost 4.97 points, or 0.14%, to 3,545.53 and the Nasdaq Composite dropped 159.93 points to 11,553.86.
Along with their narrow majority in the House of Representatives, a "blue sweep" of Congress could usher in larger fiscal stimulus. It could also pave the way for President-elect Joe Biden to push through greater corporate regulation and higher taxes.
U.S. crude oil rose more than 8% and pushed up energy stocks while safe-haven U.S. Treasuries sold off after U.S. drugmaker Pfizer and its German partner BioNTech said a large-scale trial of their vaccine showed it was more than 90% effective in preventing COVID-19.
Wall Street stocks tumbled Wednesday, taking cues from European bourses that sank on fears of broad lockdowns in the continent to address rising coronavirus cases. The bellwether Dow Jones Industrial Average had fallen 3.1 percent, or about 840 points, around 1505 GMT, to 26,622.04. The broad-based S&P 500 also shed 3.1 percent to 3,287.40, as did the tech-rich Nasdaq Composite Index, which stood at 11,079.01.US stocks join global selloff on coronavirus cases surge, Dow Jones tumbles over 700 pts
Shares of hotels, airlines and other companies sensitive to COVID-19-related curbs fell with Wynn Resorts down 3.6% and the S&P 1500 airlines index declining 3.4%. The energy index fell as oil prices tumbled on fears of lower fuel demand.
The Dow, which touched a record high earlier in the session along with the S&P 500, was also dragged down by a more than 4% fall in Boeing Co's shares after Bernstein cut its rating to "underperform," citing concerns about cash flow.
Biden built on narrow leads in Pennsylvania and Georgia, putting him on the verge of winning the White House, although President Donald Trump has filed lawsuits in battleground states to contest the results.
Dividends payments rose 0.7% to $58.28 per share from the previous record set in 2019, according to S&P Global.
"It's a quiet day with little news and low volume - an ironic end to such a tumultuous year," said David Carter, chief investment officer at Lenox Wealth Advisors in New York.
Biden leads in national opinion polls, but races are tight in battleground states that could tip the election to Trump. Analysts said the outcome most likely to shake equity markets in the near term would be no clear winner on Tuesday night.
The stock markets across the world have also reflected the sentiments of the pandemic. A sense of fear and uncertainty about an impending recession looms over traders on stock markets who started exiting by panic-selling.
"The markets are saying 'what have you done for me lately?' and people are going to be focusing on what's going to happen if we see more and more restrictions due to the pandemic."
All three major U.S. stock indexes oscillated, at one point following the MSCI World Stocks index to record intraday highs, but ended the session in negative territory as market participants balanced near-term challenges with longer-term hopes for economic recovery and a return to healthy demand.
The pandemic pushed US hospitals to the brink of capacity as coronavirus cases surpassed 9 million, while the prospect of wider COVID-19 restrictions in Europe raised concerns about the economic recovery.
U.S. equities followed their European counterparts with a broad rally, and communications services and consumer discretionary stocks led the charge.
A surge in technology and internet-related shares helped lift U.S. indexes to record highs this year.