The Dow Jones (DJIA) opened Wednesday’s trading session in the green, although it has since given up most of those gains while remaining in positive territory.
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Trump said he will send letters outlining updated tariff rates to seven more countries today. That would bring the total number of letters to 21 as the tariff pause deadline of August 1 approaches. The deadline was extended from the initial date of July 9 as very few countries have been able to cement agreements.
Trump also reiterated his criticism of Fed Chair Jerome Powell for delaying interest rate cuts in a new Truth Social post, accusing him of costing the U.S. over $1 trillion.
“Our Fed Rate is AT LEAST 3 Points too high. ‘Too Late’ is costing the U.S. 360 Billion Dollars a Point, PER YEAR, in refinancing costs. No Inflation, COMPANIES POURING INTO AMERICA,” said Trump.
Powell’s term is set to end in May 2026. White House economic advisor Kevin Hassett has recently emerged as a serious contender for the position, according to the Wall Street Journal. Prediction website Polymarket assigns a 27% chance that Trump will name Hassett as his Fed Chair pick before December 31, up from 13% yesterday.
The Dow Jones is up by 0.15% 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.
Front and center is Nvidia (NVDA), which became the first company to reach a $4 trillion market capitalization. The semiconductor leader also notched a new all-time high of $164.42 as the AI revolution marches forward.
Amazon (AMZN) is also trading higher on the second day of its Prime Day event, which ends on July 11. Boeing (BA) is joining in on the upside after it delivered 60 airplanes in June, the most since December 2023.
On the other hand is UnitedHealth Group (UNH). UNH stock took a tumble after the Wall Street Journal reported that the Justice Department’s criminal healthcare-fraud unit has launched an investigation into the embattled company’s Medicare billing process.
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 $470.42, implying upside of 6.27% from current prices. The 31 stocks in DIA carry 30 buy ratings, 1 hold rating, and zero sell ratings.