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Dow Jones Closes Wednesday in the Green at the Last Moment

Despite a sharp drop near the end of the last trading session, the Dow Jones Industrial Average managed to end up positive for the day.

Trading was intense on the Dow Jones Wednesday, with a drop down to 38,364 near the close of trading. However, the market recovered unexpectedly with a sharp climb just before trading ended, resulting in a 48 point gain for the day.

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The Dow Jones closed with a gain of 0.13% and is still retaining its gains from a high month. The 5-day total is not as rosy, though, as the market has only gained 0.62% in that time. However, the 30-day total has resulted in a gain of 1.61% or 610 points.

S&P 500 closed up as well, with an increase of 0.13%. The Nasdaq Composite was down, though, falling 0.32% by the close of trading.

Major Market Movers

Amazon (AMZN) is the stock making the news this week, as it is about to be added to the Dow Jones Industrial Average. The stock ticked up 0.9% in response and could climb much higher shortly. Watch this one closely, as it has the potential to shoot up with its inclusion on the Dow Jones.

Palo Alto Networks (PANW) dropped after the company announced a decreased sales guidance outlook, attributed to customers tiring of spending.

Walgreens (WBA) is now leaving Dow Jones to make space for Amazon, and as a result, Walgreens stock dropped 2.51%. that is one of the largest recent drops and puts Walgreens in a risky spot.

Stocks will continue to be affected by the Fed decision on interest rate cuts. The recent talking points detailed that the government is waiting for more positive data before deciding to make an interest rate cut. They are particularly looking for inflation to move toward 2% before the cuts can be made.

 

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ABOUT THE AUTHOR See More
Timothy St. John
Timothy St. John
Financial Writer - European & US Desks
Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.
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