Dow Jones Index Today: DJIA Rises on Jobs Report, Tech Strength

The Dow Jones (DJIA) is catching a bid on Friday following a better-than-expected jobs report and continued strength in the technology sector.

In May, U.S. nonfarm payroll jobs increased by 139,000, above the 126,000 jobs forecasted by economists but falling from 147,000 jobs in April. In addition, the unemployment rate remained unchanged from April at 4.2%. The unemployment rate has stayed between 4.0% and 4.2% since May 2024.

“GREAT JOB NUMBERS, STOCK MARKET UP BIG! AT THE SAME TIME, BILLIONS POURING IN FROM TARIFFS!!!,” said Trump on Truth Social. The president also pressured Fed Chair Jerome Powell to lower the federal funds rate by 1%, adding that it could be “Rocket Fuel” for the market.

Following the jobs report, odds of the federal funds rate remaining unchanged at the June 18 and July 30 Federal Open Market Committee (FOMC) meetings increased. Traders are now pricing in a 99.9% chance that rates stay between 4.25% and 4.50% at the June 18 meeting and an 83.4% chance at the July 30 meeting. What’s more, there is now a 0.1% chance that the Fed raises rates by 25 basis points at the June 18 meeting compared to 0% during the past day, week, and month.

The Dow Jones is up by 0.82% at the time of writing.

Which Stocks are Moving the Dow Jones?

Now, let’s switch gears and examine TipRanks’ Dow Jones Heatmap, which shows us exactly which stocks are driving the index’s performance.

Every single stock in the technology, financial, healthcare, communications, energy, and basic materials sector is rising today in a strong showing. As for the stocks trading lower, they are quite close to reverting to green territory.

Chevron (CVX) leads the pack with a 2.36% gain, although the multinational oil and gas giant is still negative on a year-to-date basis.

Meanwhile, Magnificent 7 members Nvidia (NVDA), Apple (AAPL), and Amazon (AMZN) are all up by over 1%, contributing to the Nasdaq 100’s (NDX) sturdy gains as well.

DIA Stock Moves Higher with the Dow Jones

The SPDR Dow Jones Industrial Average ETF (DIA) is an exchange-traded fund designed to track the performance of the Dow Jones. In addition, investors can’t directly buy the DJIA, although they can buy DIA.

Wall Street believes that DIA stock has room to rise and has assigned it with a Moderate Buy rating. During the past three months, analysts have issued an average DIA price target of $466.56 for the stocks within the index, implying upside of 9.21% from current prices. The 31 stocks in DIA carry 30 buy ratings, 1 hold rating, and zero sell ratings.