The Dow Jones Industrial Average (DJIA) is within 1% of setting a new record high, driven by growing optimism over trade deal negotiations with China, the European Union, and the United Kingdom. President Trump has stated that talks are going well, despite tensions remaining with Canada.
Trump plans to meet with EU Commission President Ursula von der Leyen on Sunday and UK Prime Minister Keir Starmer on Monday to discuss tariffs. Meanwhile, a new round of US-China trade talks is set to begin next week. The president has also prepared 200 tariff letters for countries that have not engaged in negotiations, with rates ranging from 10% to 15%.
The introduction of these tariffs has resulted in the US collecting over $100 billion in revenue, which could lead to rebate checks for Americans. Trump mentioned that he is considering a small rebate for certain income levels.
In today’s trading session, the Dow Jones rose by 0.40%. Tech stocks like Microsoft (MSFT) and UnitedHealth Group (UNH) led the gains, with MSFT increasing by 0.55% after announcing its SharePoint collaboration software had been accessed by Chinese hackers. The SPDR Dow Jones Industrial Average ETF (DIA) is also rising, driven by analyst expectations of a 9.67% upside from current prices.
Source: https://www.tipranks.com/news/dow-jones-index-today-djia-nears-record-high-on-trade-deal-optimism-potential-tariff-rebate-checks