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 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
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.
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.
"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.
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.
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.
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.
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.
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.
The Dow Jones Industrial Average rose 158.93 points, or 0.57%, at the open to 27,940.63.
Securities from 10 Chinese companies will be deemed ineligible from equity indices prior to the market open on Dec 21, the index provider said.
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.
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.
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
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.
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.
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.
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.
Vedanta signed the declaration, along with more than twenty top private companies, which have aligned themselves with India’s commitment under the Paris Agreement.
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 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.
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.
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.
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.
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.
The stock is merely 1.63 per cent away from its 52-week high of Rs 405 seen a year ago.
Investors stayed focused on updates about a handful of vaccine candidates and the start of global shipments as drugmakers submit paperwork for regulatory approvals.
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.
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.
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.
"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 79.28 points, or 0.29%, at the open to 27,613.86.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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 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.
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.
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.
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.
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.
Elon Musk's Tesla on Monday will become the most valuable company ever admitted to Wall Street's main benchmark, accounting for over 1% of the index. The shares have surged over 60% since mid-November, when its debut in the S&P 500 was announced.
All three major indexes hit record highs at the opening before retreating. The S&P 500 technology index, which has led gains this week, was the biggest drag on the overall benchmark index.
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.
According to Ashis Biswas, Head of Technical, CapitalVia Global Research, the market's short-term technical condition shows an upward shift in the prevailing market range, and it is likely to range between 13,550 and 13,780.
Apple Inc was the top boost to the Dow and the Nasdaq, rising 4% to a more than three-month high after a report said it plans to increase iPhone production by 30% in the first half of 2021.
Investor sentiment sagged after the White House said a deal on COVID-19 relief could come in "weeks," meaning a deal is unlikely before the Nov. 3 election.
U.S. officials began to administer the vaccine developed by Pfizer and its German partner BioNTech on Monday following emergency-use approval from federal regulators last week.
Travel-related stocks, vulnerable to COVID-19 related curbs, fell sharply. The S&P 1500 airlines index fell about 5.6% while cruise line operators Carnival Corp fell 8.66% and Royal Caribbean Cruises Ltd slid 9.65%, the biggest decliner among S&P500 companies.
Uncertainty over the timeline of the relief legislation has been weighing on Wall Street's major indexes in recent sessions, with all three indexes posting declines for the week.
The securities, which are not traded on the Nasdaq exchange, will be removed from the indexes on Dec. 21.
Lawmakers have wrangled for months over a fresh fiscal stimulus package to support an economy battered by coronavirus lockdowns. New York Governor Andrew Cuomo on Friday suspended indoor dining in New York City, effective Monday.
U.S. House of Representatives Speaker Nancy Pelosi reported progress in talks with the Trump administration for another round of financial aid and said legislation could be hammered out "pretty soon".
But equities moved well off lows that saw the S&P 500 down as much as 0.75% after U.S. Treasury Secretary Steven Mnuchin said talks between Republican and Democratic senators on COVID-19 relief were making "a lot of progress" with more discussions expected in the day.
White House Chief of Staff Mark Meadows said that while there are a number of differences between the White House and Congressional Democrats, Republican President Donald Trump was "willing to lean into" working on an agreement.
In 2008 energy was the S&P 500’s second-largest sector by weight, right behind information technology. Energy, one of the S&P 500’s 11 sectors, is made up entirely of oil and gas and oilfield services companies in the index, and over the past 12 years its heft has diminished.
Uncertainty over the coronavirus aid package weighed on Wall Street's main indexes on Monday and analysts expect market turbulence to increase with only two weeks left until Election Day.
Investors are banking on a long-awaited relief package to help buttress an economy battered from the COVID-19 pandemic and related lockdowns that has led to millions of layoffs and overwhelmed the healthcare system.
MSCI's broadest index of Asia-Pacific shares outside Japan narrowed its losses from early trade, but was still down 0.02 per cent as anxiety over the coronavirus pandemic capped sentiment.
The Dow also joined the S&P in positive territory, both indexes snapping a three-day losing streak driven by halted vaccine trials and continued wrangling in Washington over a new pandemic relief package. But the Nasdaq ended the session slightly lower.
"Going into the fall it will be difficult for unemployment to make a lot of positive headway because of the lack of stimulus," said Christopher C. Grisanti, chief equity strategist, MAI Capital Management in Cleveland.
Downbeat comments from Treasury Secretary Steven Mnuchin that a deal would not likely be made before the vote added to fragile sentiment following a mixed bag of quarterly earnings reports from major Wall Street lenders.
MSCI’s gauge of stocks across the globe shed 0.02 per cent. Australia’s S&P ASX 200 rose 0.26 per cent.
Amazon rallied 4.8% ahead of its annual Prime Day shopping event on Oct. 13 and 14. Microsoft jumped 2.6%, helping lift the S&P 500 information technology index 2.7%.
MSCI’s broadest index of Asia-Pacific shares outside of Japan were barely changed following two straight days of gains.
Tesla’s entry into the S&P 500 in three weeks will rob them of that edge. The carmaker will enter as a top 10 weighting with its current market-cap of nearly $550 billion, giving it sway over the most-tracked benchmark.
According to Nagaraj Shetti, Technical Research Analyst, HDFC Securities, the short-term trend of Nifty continues to be positive with rangebound action.
Stocks are opening broadly higher on Wall Street, resuming a November rally that brought the biggest monthly gain for the S&P 500 since April. The benchmark index was up 0.9% in the early going Tuesday, putting it on track for another record high after a weak showing a day earlier. The Dow Jones Industrial Average edged back closer to the 30,000 mark. Investors were encouraged to see that regulators in Europe could approve a coronavirus vaccine developed by Pfizer and BioNTech within four weeks. Treasury yields rose as investors became more optimistic about the economy.Wall Street gains on Covid vaccine cheer; S&P 500 approaches another all-time high
With the benchmark index now about 1% below its record high, gains were led by utilities, communication services and real estate stocks. Energy was among the biggest decliners in morning trading.
The electric-vehicle maker would be the seventh-biggest company in the S&P 500 at its current market value, falling between Berkshire Hathaway Inc. and Visa Inc.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.26 per cent on Tuesday after closing the month 9 per cent higher, the best November since 2001. Japan's Nikkei and Australia's S&P/ASX 200 were each 0.9 per cent higher, while South Korea was up 1.4 per cent.
The S&P 500 energy index led sector percentage gains, rising 3.8% on the day, following a jump in oil prices. The Russell 2000 small-cap index was up 1.1%
The Dow Jones Industrial Average was down 1.73 points, or 0.01 per cent, at 25,444.21.
Delays in vaccine distribution or widespread refusal to be vaccinated would allow the virus to continue to circulate longer and delay the development of herd immunity, which occurs when enough people in a population have some protection that prevents the easy spread of a disease.
The S&P 500 fell to a session low shortly after the tweet, taking the index down more than 2% from its session high. Airline shares also tumbled, with United Airlines ending down 3.6% on the day, and the Cboe Volatility index climbed to a session high.
After data last week showed an unexpected slowdown in the domestic manufacturing sector in September, figures on Monday showed activity in the broader services industry pulled above levels that prevailed before the COVID-19 pandemic.
Tthe Dow Jones Industrial Average was up 154.52 points, or 0.59 per cent, at 26,234.62.
The Dow Jones Industrial Average was down 25.50 points, or 0.10 per cent, at 26,264.48.
Mazhar Mohammad of Chartviewindia.in said that the index could turn sideways only if it manages to defend the recent low of 12,833 in Thursday's trade.
But the indexes pared gains after Senate Majority Leader Mitch McConnell warned the sides remain "far apart" in their talks.