The Dow Jones Industrial Average (DJIA) slipped on Friday after an otherwise strong week for the stock market. Weighing on shares today was China’s promise to support its economy during the trade war. Investors may see this as a sign that negotiations for a trade deal between between China and the U.S. aren’t going well.
On a positive note, President Donald Trump stated that the U.S. is getting close to a trade deal with Japan. Additionally, Google’s parent company, Alphabet (GOOGL), reported strong Q1 results today. That helped prevent the stock market from suffering larger losses today as shares rose in sympathy with GOOGL.
The Dow Jones index was down 0.54% on Friday, building on a 10.33% drop over the last three months. However, investors will note that the index increased 3.11% over the last five days, signaling a possible recovery from the recent tariff-fueled slump.
How Does This Affect DIA Stock?
The SPDR Dow Jones Industrial Average ETF Trust (DIA) is down today as it mirrors the Dow Jones index. That also means it’s up over the last week alongside the recent Dow Jones rally. The SPDR Dow Jones Industrial Average ETF Trust is one of many exchange-traded funds (ETFs) that track the Dow Jones index. There are also ETFs designed to short the Dow, allowing investors to bet against the success of the index.
Is DIA Stock a Buy, Sell, or Hold?
Turning to Wall Street, the SPDR Dow Jones Industrial Average ETF Trust has a Moderate Buy rating, based on the 29 Buy and two Hold consensus ratings of stocks it holds. With that comes an average price target of $464.68, representing a potential 16.39% upside for DIA stock.
