The Dow Jones (DJIA) opened Monday’s trading session in the red on President Trump’s H-1B visa price hike, but has since recovered to green territory.
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The Trump administration announced that it will increase the price of H-1B visas to $100,000. These visas allow foreign workers with technical skills, like engineering, to work in the U.S. The announcement caused several companies, including Amazon (AMZN) and Microsoft (MSFT), to call back employees on these visas who were abroad. After the initial announcement, the White House clarified that existing H-1B visa workers wouldn’t be affected by the higher price tag.
The higher price will hit Indian workers especially hard, as they have accounted for about 70% of H-1B visas in recent years. India’s government said the measure could lead to “humanitarian consequences by way of the disruption caused for families.”
Meanwhile, the administration is set to announce leucovorin as a treatment for autism, according to The Washington Post. Over the weekend, Trump said “I think we found an answer to autism” during a memorial held for Charlie Kirk, adding that an announcement would be made on Monday. Leucovorin is not a new drug and has been used to manage side effects in cancer treatments. At the same time, early studies have shown that it can help improve communication in children with autism.
Finally, Atlanta Fed President Raphael Bostic said that he penciled in one rate cut for 2025 in the Fed’s dot plot, warning that the risk of inflation remains present. “I am concerned about the inflation that has been too high for a long time,” Bostic said in an interview with the Wall Street Journal. “And so I today would not be moving or in favor of it, but we’ll see what happens.”
The Dow Jones is up by 0.12% 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 surging higher after the semiconductor leader announced that it would invest up to $100 billion in OpenAI. The investment will go toward building and deploying at least 10 gigawatts of data center capacity using Nvidia’s technology, with the first $10 billion to be invested when OpenAI deploys one gigawatt. Apple (AAPL) is also catching a bid and has turned positive on a year-to-date basis following its iPhone 17 series debut. In addition, Wedbush hiked its AAPL price target to a street-high of $310.
On the other hand, Magnificent 7 peers Microsoft (MSFT) and Amazon (AMZN) are trading lower on the H-1B visa news. Furthermore, Amazon’s Federal Trade Commission (FTC) trial for allegedly misleading customers into signing up for its Prime service begins today. The FTC also accused Amazon of making it difficult for customers to cancel their Prime subscription.
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 $501.50, implying upside of 8.23% from current prices. The 31 holdings in DIA carry 29 buy ratings, two hold ratings, and zero sell ratings.