The Dow Jones (DJIA) is staging a comeback on Monday after plunging on Friday in response to President Trump’s announcement of an additional 100% tariff on Chinese imports.
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Over the weekend, Trump softened his stance, saying in a Truth Social post, “Don’t worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn’t want Depression for his country, and neither do I.”
In addition, Treasury Secretary Scott Bessent said he believes Trump will still meet with Chinese President Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) Summit, which begins on October 31, as previously scheduled during a phone call between the two leaders.
Trump has an action-packed schedule today, with trips to both Israel and Egypt. In a speech to the Knesset, Israel’s Parliament, Trump declared the end of the Gaza war and the beginning of a new, peaceful era in the Middle East. “This isn’t only the end of a war, this is the end of an age of terror and death,” Trump said. “This is the historic dawn of a new Middle East.”
In Egypt, Trump met with several world leaders to discuss the Gaza peace plan and the future of the region. He said that “phase two” of the plan has begun, which includes the disarmament of Hamas and the creation of an interim government in Gaza. Furthermore, Trump, along with the leaders of Egypt, Qatar, and Turkey, signed the plan.
The Dow Jones is up by 1.42% 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 tech stocks within the index after Mizuho raised its NVDA price target to $225 from $205, citing the semiconductor company’s strong leadership position and projecting over $300 billion in data center revenue by 2028. Apple (AAPL) is also in the green, brushing off a warning from Jefferies that the iPhone-maker’s margins could take a hit if Trump chooses to hike China’s tariff rate.
Furthermore, Magnificent 7 peer Amazon (AMZN) is catching a bid after the company announced that it would hire 250,000 seasonal, full-time, and part-time workers during the holiday season for a third straight year.
Elsewhere, all four industrial stocks are trading higher, while four of the five financial stocks are in positive territory.
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 $510.83, implying upside of 10.78% from current prices. The 31 holdings in DIA carry 29 buy ratings, two hold ratings, and zero sell ratings.
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