Dow Jones Gains Ground

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Dow Jones Gains Ground

Dow Jones Gains Ground After Inflation Report

Dow Jones (DJIA) has gained 200 points on Wednesday while already sitting at record highs. It seems that the post-election rally is still in effect, and the recent inflation report has intensified it even further.

There's no doubt that the Dow Jones (DJIA) now appears to be running ahead of itself. But, it seems that investors are still not ready to allow a consolidation phase.

Boeing (Ba) Stock Declines

As of now, 66% of the stocks in the DJIA are positive for the day. However, Boeing (BA) stock was an outlier, with a -2.5 % decline for the day. BA stock is now under $142.00 as the company has started handing out layoff notices.

Boeing is planning to let go of around 17,000 workers, which is equivalent to 10% of the workforce. On the other hand, Amazon has hit a new high and crossed the $215 level.

The surge in Amazon stock came after the company announced its plans to start the production of AI chips. Now, this is big news and if materialized, will allow the Amazon to take a chunk of the Nvidia share in the AI market.

Home Depot (HD) is also making rounds after crossing the $410 price level. Now, the next target for the Home Depot stock is $430, followed by $450.

Last week, Dow Jones (DJIA) opened on a bullish note and even crossed 44500 points. The bullish momentum was temporarily halted with a pullback, but even that is now out of the question.

Now, the investors are worried that DJIA is overbought and a retracement might be on the cards. Also, any data releases that reaffirm the Fed's next rate cut will also go in favor of the Dow Jones (DJIA).

If any Fed member talks about the rate again, that would also be good news for the Dow Jones (DJIA). As of now, Dow Jones (DJIA) is in green with no end in sight.

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