The Dow Jones (DJIA) is about 0.5% from surpassing its intraday all-time high, and a highly-anticipated earnings report from the world’s largest company after the closing bell could tip the index in either direction.
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All eyes are on Nvidia’s (NVDA) second-quarter earnings, with the AI leader expected to post revenue of $46.02 billion and adjusted earnings per share of $1.01. NVDA accounts for 2.46% of the Dow Jones, making it the 19th largest component.
Meanwhile, Treasury Secretary Scott Bessent shared on X that there are currently “11 strong Fed chair candidates.” After Labor Day, which falls on September 1, the Trump administration will begin interviews and subsequently provide President Trump with a shortlist.
Fed Governor Christopher Waller leads the Fed Chair race with a 27% chance of being selected by Trump before December 31, according to prediction platform Polymarket. National Economic Council Director Kevin Hassett trails behind with an 11% chance, followed by former Fed Governor Kevin Warsh at 9%.
On Wednesday, Trump accused George Soros of supporting violent protests, calling for the billionaire and philanthropist to be charged under the Racketeer Influenced and Corrupt Organizations (RICO) Act.
“George Soros, and his wonderful Radical Left son, should be charged with RICO because of their support of Violent Protests, and much more, all throughout the United States of America,” Trump said in a Truth Social post.
The Dow Jones is up by 0.23% at the time of writing.
Which Stocks are Moving the Dow Jones?
Let’s pivot to TipRanks’ Dow Jones Heatmap, which illustrates the stocks that have contributed to the index’s price action.
It’s been a calm day thus far for the Dow Jones, with most stocks trading in the -1% to +1% range.
Nvidia is holding steady ahead of its earnings, while Salesforce (CRM) is leading all tech stocks to the upside. The cloud-based customer relationship management platform is set to report its earnings on September 3 after the market close.
Elsewhere, multinational energy corporation Chevron (CVX), the only energy company within the index, is catching a bid as oil futures are up by about 1%. UnitedHealth Group (UNH) is also in the green and has remained in an uptrend since Warren Buffett revealed a position in the embattled healthcare company.
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 movement of the Dow Jones. As a result, DIA is rising alongside the Dow Jones today.
Wall Street believes that DIA stock has room to rise. During the past three months, analysts have issued an average DIA price target of $497.81, implying upside of 9.28% from current prices. The 31 stocks in DIA carry 29 buy ratings, two hold ratings, and zero sell ratings.
