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If you're interested in broad exposure to the Large Cap Value segment of the US equity market, look no further than the SPDR Dow Jones Industrial Average ETF (DIA), a passively managed exchange traded fund launched on 01/13/1998.
The laggard of the three key U.S. equity gauges in 2023 -- the Dow Jones Industrial Average -- managed to close the first trading day of 2024 in the green, unlike the S&P 500 and the Nasdaq.
The Dow's price-weighted structure isn't an issue. In terms of sector breakdown, the Dow is more value- and income-focused than the S&P 500.
Last week, the Dow Jones Industrial Average attained a historic landmark, reaching a record high, thanks to the Federal Reserve's dovish stance and tone.
The Federal Reserve held its benchmark interest rate steady at a range of 5.25%-5.50% on Dec 13. However, the Fed hinted at three 25-bp rate cuts next year.
The Dow Jones has been outperforming over the past three months, rising 5.8% compared with a 3.9% increase for the S&P 500.
The Dow Jones Industrial Average has been outperforming over the past three months, rising 5.1% compared with a 3.6% gain for the broad market index fund (SPY).
The Dow Jones Industrial Average achieved a new peak for 2023, thanks to encouraging inflation data and strong Salesforce earnings.
The SPDR Dow Jones Industrial Average ETF (DIA) was launched on 01/13/1998, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Value segment of the US equity market.
Value stocks perform better in a higher rate environment. Any show of economic resilience is likely to bring share prices down as the Fed will turn hawkish.