Dow Jones Slips as Amgen and Intel Drag It Down

The Dow Jones Industrial Average (DJIA) is slipping lower today, and investors can thank Amgen’s (AMGN) latest clinical trial data for part of that fall. Results from a trial of MariTide showed an average weight loss of 20% for patients with obesity. The bad news here is that Wall Street was expecting that number to come in at 25%.

This has left both investors and analysts unimpressed with Amgen, which is pulling the stock down 9.48% as of this writing. That’s also weighing on the Dow Jones Industrial Average and explains part of what’s keeping it down today.

Intel Helps Amgen Drag Dow Jones Down

Not helping the Dow Jones today is the latest update on funding for Intel (INTC) from the Chips and Science Act. This will grant the company $7.9 billion to build semiconductor factories in the U.S. For the record, Wall Street’s expectations were for Intel to be granted more than $8 billion through the Chips Act.

Yet again, this is bad news for a stock on the Dow Jones. In this case, shares of INTC are down 3.5% as of this writing. This tag team of bad news from Amgen and Intel is causing a -0.24% drop for the Dow Jones today. Even so, the index is up 2.62% over the last five days and 18.7% year-to-date.

How to Invest in the Dow Jones

Traders can’t make a direct investment in the Dow Jones due to it being an index. However, they can buy shares of an exchange-traded fund (ETF) that tracks the index. Doing so exposes them to the stocks on the Dow Jones without directly holding them.

Investors have a few options to choose from when picking an ETF that follows the Dow Jones. That includes SPDR Dow Jones Industrial Average ETF Trust (DIA), iShares Dow Jones Industrial Average UCITS ETF (IDOWF), ProShares UltraPro Dow30 (UDOW), ProShares Ultra Dow30 (DDM), and ProShares UltraPro Short Dow30 (SDOW). Movement for these ETFs is mixed today alongside the Dow Jones slip.

See more Dow Jones ETFs

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