Gold futures, which have lost ground since the election as the U.S. dollar has strengthened, were up nearly 1% at $2,650 an ounce in recent trading, while oil futures were down slightly. On the macroeconomic front, weekly jobless claims released on Thursday morning came in at 213,000, a decline from the prior week. Investors are weighing the Federal Reserve’s appetite for interest rate cuts.
The biggest cryptocurrency is closing in on the key $100,000 milestone after Securities and Exchange Commission Chair Gar Gensler announced he’d be stepping down in January 2025. Crypto enthusiasts are hopeful a more pro-crypto chair will take Gensler’s place. Analyst Kashy Harrison lowered her rating on the struggling solar panel and battery storage company to neutral from overweight. She also cut her price target by $12 to $11, which suggests 7.6% potential upside for the stock. Shares of Texas Pacific Land surged around 14%, hitting a fresh intraday all-time high, following the announcement that it’s going to join the S&P 500, effective before the bell on Tuesday.
Analyst Tom Nikic opened coverage at a buy rating and added the stock to the firm’s “conviction list.” Nikic’s $218 price target implies shares can rally nearly 20% from where the stock closed Thursday. Meanwhile, bitcoin (BTC-USD) prices were up more than 3% to hit a fresh record near $94,500 per token before paring back some gains and falling below $94,000. Optimism for a crypto-friendly Trump White House has spurred the digital currency’s recent rally. The DJIA is the second-oldest U.S. market index after the Dow Jones Transportation Average. The DJIA was designed to serve as a proxy for the health of the broader U.S. economy. Often referred to simply as the Dow, it is one of the most-watched stock market indexes in the world.
The Dow Jones Industrial Average is made up of 30 large How to buy decentraland stocks. The Dow Jones Industrial Average hit 10,000 for the first time in March 1999. The DJIA then hit 11,750 in January 2000, before falling to below 7,200 in October 2002 after the dot-com crash.
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Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, researcher, and educator. She is a financial therapist and transformational coach, with a special interest in helping women learn how to invest. EchoStar fell 2.8% after DirecTV called off its purchase of that company’s Dish Network unit. “Overall, market behavior has normalized following an intense few weeks,” said Mark Hackett, chief of investment research at Nationwide, in a statement.
Biggest Gainers
While the Dow includes a range of companies, all can be described as blue chip companies with consistently stable earnings. Gap soared 12.8% after handily beating analysts’ third-quarter earnings and revenue expectations, while raising its own revenue forecast for the year. Discount retailer Ross Stores rose 2.2% after raising its earnings forecast for the year. Walmart shares inched up to around $87 in recent trading, after hitting an all-time high of $88.29 atfx trading platform on Tuesday.
The Dow Jones how to predict and take advantage of the money exchange market 2024 Industrial Average (DJIA) is a stock market index that tracks 30 large, publicly owned blue-chip companies trading on the New York Stock Exchange (NYSE) and Nasdaq. The Dow Jones is named after Charles Dow, who created the index in 1896 with his business partner, Edward Jones. Also referred to as the Dow 30, the index is considered a gauge of the broader U.S. economy. Intuit, which makes TurboTax and other accounting software, fell 5.7%. It gave investors a quarterly earnings forecast that fell short of analysts’ expectations.
- Google parent Alphabet ended over 4.5% lower as the US Department of Justice called for the company to divest its Chrome business in an anti-trust push.
- Thus, a one-point move in any of the component stocks will move the index by an identical number of points.
- The Russell 2000 index of smaller companies rose 42.65 points, or 1.8%, to 2,406.67.
- The retailer also lowered its expected full-year EPS outlook to a range of $8.30 to $8.90, down from $9.00 to $9.70 last quarter.
When Did the DJIA Top 10,000 for the First Time?
The stock has also seen massive gains in 2024, soaring more than 229% year to date. UBS still views upside ahead for Nvidia after its quarterly beat and expected Blackwell ramp — and is staying positive on the AI compute industry looking ahead to the end of next year. “By our lights, it will be difficult for the consumer to replicate its strong positive trend line as growth in wages and savings anniversary,” CEO Nicholas Bohnsack wrote in a research note on Thursday. Although Strategas holds a degree of skepticism on the rate of revenue growth forecasted by analysts for 2025, it “acknowledges that top-line appears directionally correct.” Stocks closed higher on Wall Street, giving the market its fifth gain in a row and notching another record high for the Dow Jones Industrial Average. Still, the major gauges were on track to close the week with wins of over 1%, despite getting it off to a lackluster start as the post-election rally stalled.
What Does the Dow Jones Industrial Average Measure?
A bars pattern projects a price target in the stock of around $89 and indicates the shares may be about to enter a consolidation phase. Several firms raised their price targets in the days ahead of the report, with Stifel analysts bumping their price target earlier this week to $180 from $165. The Dow finished 0.3% higher to snap a four-session losing streak, while the S&P 500 rose fractionally and the Nasdaq Composite ended 0.1% lower. The S&P 500 has now risen for three straight days, recovering some of the losses recorded last week as a big post-election rally fizzled.
Small-cap stocks also showed strength this week, with the Russell 2000 climbing 1.8% in Friday’s session to finish the week up by roughly 4.5%. Please bear with us as we address this and restore your personalized lists. The company reported another solid earnings beat, with revenue exceeding expectations and guidance coming largely in line with estimates. US stocks recovered from steep losses Wednesday ahead of Nvidia’s (NVDA) earnings, a crucial litmus test for the artificial intelligence trade that could set the direction of markets for days to come. Fundstrat’s Tom Lee called Nvidia’s earnings release a “clearing event” for the stock market.