The Dow Jones (DJIA) is having a terrific start to the trading week as trade talks continue to progress.
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Over the weekend, President Trump agreed to delay 50% tariffs on imported EU goods to July 9 from June 1. Trump had proposed the significant charges last week after stressing that “Our discussions with them are going nowhere!”
In addition, it seems that the tariff threat has sped up the negotiation process. This morning, Trump said that the U.S. and EU will “quickly establish meeting dates” following a call from the 27-nation bloc.
A U.S.-India trade deal could precede a deal with the EU. White House economic advisor Kevin Hassett noted that a deal between the two countries is “close to the finish line,” with a deal announcement possible as soon as this week.
For the cherry on top, consumer confidence is on the rise. The Conference Board’s preliminary Consumer Confidence Index (CCI) for May tallied in at 98.0 compared to the expectation for 87.1 and increasing from 85.7 in April.
The Dow Jones is up by 1.37% at the time of writing.
Which Stocks are Moving the Dow Jones?
Let’s pivot to TipRank’s Dow Jones Heatmap, which illustrates the stocks that have contributed to the index’s price action.
Green is the color of the day as a majority of stocks within the index are rising. Every single stock in the technology sector is up, with Nvidia (NVDA) leading the way at 2.96%. The semiconductor leader is set to report its earnings after the close tomorrow. Disney (DIS) is also catching a bid after its Lilo & Stitch film pulled in a record-breaking $341.7 million over the Memorial Day weekend.
UnitedHealth Group (UNH) isn’t so lucky with a 0.59% fall on the day. The healthcare giant is still struggling from a Department of Justice investigation amid other accusations of malpractices.
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 and is moving higher with the index today.
Wall Street believes rates DIA stock with a “Moderate Buy.” During the past three months, analysts have issued an average DIA price target of $464.11 for the stocks within the index, implying upside of 9.97% from current prices. The 31 stocks in the DIA carry 30 buy ratings, 1 hold rating, and zero sell ratings.