Dow Jones Gains On Friday

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Dow Jones Gains On Friday

Dow Jones Gains 400 Points On Friday

Dow Jones Industrial Average (DJIA) has finally ended its soft patch and is now trying to extend its gains. In the process, Dow Jones has gained almost 400 points and is on the path to move into bullish note zone.

Over all, Dow Jones is up by 1.8% from its weekly opening price but is still trading below its highs around 44485. It seems that the bullish US PMI has helped the Dow Jones to end the session in green.

Us Manufacturing Pmi Jumps In November

The US manufacturing PMI for November was 48.8, against the previous reading of 48.5 in October. Also, the Services PMI was 57.0 which was higher than the forecast of 55.3.

Although the PMI reading was upbeat, the consumer sentiment survey showed a different picture. The survey from UOM showed that consumer sentiment has moved from 73 to 7.18 against the forecast of 73.7.

Also, the consumer inflation expectations (5Y) showed that the inflation will likely reach 3.2% during the 5-year period. Once again, this was higher than the forecast of 3.1% which means consumers are not optimistic about lower inflation.

Overall, the Dow Jones showed mostly bullish momentum as the session came to a close. Also, sectors such as tech telecom failed to build up on the bullish trend. On the other hand, the financial, consumer, and industrial sectors showed healthy gains during the session.

The current price of Dow Jones shows that the bulls remain in control while other technical indicators are also painting a similar picture. Since the start of November 2024, Dow Jones has gained almost 5.8%, which makes it the best month for the index in recent history.

As for the yearly performance, Dow Jones is up by 18% since the start of 2024. So, it's safe to say that Dow Jones is also on the path to closing the year on a positive note.

Also, Trump's policies may help the Dow Jones index to move even higher as he is promising a lower corporate tax.

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