- The Dow Jones is the best of the indexes on Monday.
- S&P 500, NASDAQ slightly in the red as Dow Jones holds steady.
- Markets gear up for US CPI inflation on Tuesday.
The Dow Jones Industrial Average (DJIA) is experiencing modest gains on Monday, hovering around the 38,500.00 level, while other benchmark indexes show slight weakness. Market participants are gearing up for Tuesday’s release of the US Consumer Price Index (CPI) inflation data, anticipating any signs of subdued price growth that could indicate a potential shift toward rate cuts by the US Federal Reserve (Fed).
Dow Jones News: Markets spread as investors await the next iteration of US CPI inflation
As of midday in Monday’s trading session, the Materials and Energy Sectors lead the way with gains of 1.1% and 0.56%, respectively. Conversely, the Industrials and Real Estate sectors are experiencing a slight downturn, each down about six tenths of a percent.
UnitedHealth Group Inc. (UNH) and Nike Inc. (NKE) are the top performers in the DJIA, both posting gains of 2.5%, closely followed by Walt Disney Co. (DIS), which is up 2% on Monday. On the downside, Boeing Co. (BA) is the worst performer, shedding 3.3%.
Boeing, which has faced challenges in recent years due to multiple crashes and investigations, is once again under scrutiny as the Department of Justice (DOJ) initiates a criminal investigation. This follows an incident with an Alaska Airlines flight where a maintenance record for the plane could not be located after a mid-flight panel blowout.
Dow Jones technical outlook
The Dow Jones Industrial Average (DJIA) experiences a gradual ascent on Monday, reaching around 38,775.00 after an initial dip near 38,475.00 earlier in the day. Although the DJIA still lingers below last week’s highs near 38,960.00, it has managed to stay above the 50-day Simple Moving Average (SMA) at 38,295.00, providing support. Despite falling short of the all-time peaks above 39,200.00 recorded in February, the DJIA has maintained its bullish position, consistently trading above both the 50-day and 200-day SMAs since entering a bull market in November.
Dow Jones chart, 1-minute
