DJIA Soars to All-Time High as Shutdown Fears Fade—Wall Street Breathes Again
Dow rockets past previous records on political optimism—because nothing fuels markets like kicking the can down the road.
Bulls charge as DC drama takes a coffee break. Traders celebrate the only bipartisan activity left in Washington: delaying tough decisions.
Another shutdown scare dodged—for now. The market's Pavlovian response to short-term fixes remains stronger than its attention span.
Wall Street's favorite drug: hopium. The Dow's record high proves traders will snort any whiff of stability—even if it's manufactured.
Funny how 'temporary solutions' always seem to align with options expiry weeks. Pure coincidence, surely.
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After securing approval in the Senate and House Rules Committee, a bill that extends government funding until January 30 is headed to the full House. The House is expected to pass the bill with a vote expected this evening. Afterward, President TRUMP will need to give his final approval, although he has already expressed support for the legislation.
“It really was a shutdown about nothing,” said House Speaker Mike Johnson. “I mean, what we’re voting on is effectively exactly what we offered them several weeks back.”
The bill doesn’t include an extension of Affordable Care Act (ACA) subsidies, a major point of disagreement between the two parties, although it guarantees a vote on an extension in December.
Meanwhile, Atlanta Fed President Raphael Bostic announced that he WOULD retire once his term expires in February 2026. Bostic, who has held a hawkish view this year, said on Wednesday that he supports keeping rates unchanged until there is clear evidence of inflation falling to the Fed’s 2% target. He added that surveyed firms expect to raise prices in 2026 by more than 2%.
Finally, President Trump is expected to hold a dinner at the WHITE House this evening with several top finance leaders, including Citadel CEO Ken Griffin, JPMorgan Chase (JPM) CEO Jamie Dimon, Goldman Sachs (GS) CEO David Solomon, and others. A notable name left off the list is Bank of America (BAC) CEO Brian Moynihan, according to the New York Post. Earlier this year, Trump criticized Moynihan at the World Economic Forum in Davos for allegedly discriminating against conservatives.
The Dow Jones is up by 0.81% 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.
UnitedHealth Group (UNH) is the top performer within the index after CFO Wayne DeVeydt expressed confidence in the company’s recovery strategy at the UBS Global Healthcare Conference. In addition, every single stock in the financial sector is trading higher, led by JPMorgan and Goldman Sachs, as their CEOs prepare to meet with Trump.
Tech is showing weakness, with Microsoft (MSFT) and Nvidia (NVDA) slightly lower on renewed AI bubble fears. That isn’t the case for International Business Machines (IBM), which announced that its most powerful quantum processor, called Quantum Nighthawk, will be available to customers by year-end.
Elsewhere, Nike (NKE) is rising after Bank of America said that its shares were an “attractive buying opportunity,” while Amazon (AMZN) is leading the consumer cyclical sector to the downside.
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 $524.96, implying upside of 8.63% from current prices. The 31 holdings in DIA carry 30 buy ratings, one hold rating, and zero sell ratings.
