European markets closed mostly higher and Asian markets ended convert australian dollar to new zealand dollar mixed. Like the Swiss Market Index (SMI), the Dow Jones is a price index. The shares included in it are weighted according to price; the index level represents the average of the shares included in it. Meanwhile, surging bitcoin continued to move near the landmark $100,000 level, buoyed by growing confidence that the Trump administration will support pro-crypto policies. The leading token broke above $99,500 early on Friday before retreating amid hopes for looser regulatory oversight after SEC Chair Gary Gensler said he will step down soon.
Flash PMI readings for services and manufacturing rise in November
She also cut her price target by $12 to $11, which suggests 7.6% potential upside for the stock. Consumer sentiment in November moved lower following the presidential election but was still better than October, according to a closely watched gauge from the University of Michigan released Friday. Bitcoin inched to is admiral markets trustworthy a new record Friday as investors waited with bated breath for it to hit $100,000. Recent choppiness shouldn’t make investors question whether the market has strength into the end of 2024, according to Robert Schein, chief investment officer of Blanke Schein Wealth Management.
- Consumer Discretionary (XLY), Industrials (XLI), and Financials (XLF) led the sector gains this week, with XLF closing at an all-time high.
- Investing in the DJIA is possible via index funds as well as via derivatives such as option contracts and futures contracts.
- “We view Ms. Bondi’s likely leadership of DOJ as a materially better starting point for a settlement with the Trump Administration than had Gaetz been confirmed,” he said.
- Stocks with higher share prices are given greater weight in the index.
The Dow Jones Industrial Average closed at a new record on Friday, capping off a winning week for stocks. On March 29, 1999, the average closed at 10,006.78, its first close above 10,000. This prompted a celebration on the New York Stock Exchange trading floor, complete with party hats.56 Total gains for the decade exceeded 315%; from 2,753.20 to 11,497.12, which equates to 12.3% annually. EchoStar fell after DirecTV called off its purchase of that company’s Dish Network unit.
Bitcoin flirts with $100,000
The index is maintained by S&P Dow Jones Indices, an entity majority-owned by S&P Global. The ten components with the largest top 10 ways to invest money dividend yields are commonly referred to as the Dogs of the Dow. As with all stock prices, the prices of the constituent stocks and consequently the value of the index itself are affected by the performance of the respective companies as well as macroeconomic factors.
Dollar index surges to two-year high, on track for eight straight gains
Vistra leads the XLU for the week and the S&P 500 for the year with its more than 300% rise in 2024. The stock reached a fresh all-time high this morning before turning lower. Constellation Energy too is up more than 10% WTD, pacing to break a four-week losing streak. Gantori recommended investors take advantage of higher near-term volatility by buying the dip in quality AI stocks or through structured strategies, given his positive view on AI semiconductors and leading cloud platform providers. “On the back of strong expected revenue growth in 2025, we maintain our positive view on the AI compute industry and NVIDIA in particular,” analyst Sundeep Gantori wrote in a Thursday note. “Still, investors should not lose sight of potential risks in 2025, including around the product transition and tariff-related uncertainties.”
Elsewhere, the small cap-focused Russell 2000 outperformed. The index climbed 1.8% on Friday, raising its weekly advance to nearly 4.5%. The Dow ended the week about 2% higher, while the S&P 500 and Nasdaq each added about 1.7%.
Intel (INTC) Replaced by NVIDIA on Dow Jones, Marking Shift in Semiconductor Industry Leadership
The first large-scale change was in 1932 when eight stocks in the Dow were replaced. US stocks closed near session highs on Friday as investors surveyed President-elect Donald Trump’s efforts to build his team and bitcoin’s (BTC-USD) bid to reach a key milestone. The Dow continued climbing and reached a record high of 14,198.10 on October 11, 2007, a mark which was not matched until March 2013.59 It then dropped over the next year due to the 2007–2008 financial crisis.
