The Dow Jones Industrial Average Index (DJIA) was almost flat as it closed in on a 0.03 per cent increase at 34,323.05 US Dollar.
Dow Jones Champions
Dow Jones Index will react to the upcoming earnings by Dollar Tree. Shares in the Dollar Tree rose 1.39 per cent to $108.47 on Wednesday. This was a great gain in the stock market which was down for two consecutive days. The Dollar Tree Inc dropped $11.90 below its 52-week all time high of $120.37 reached in April. The company’s futures earnings are expected to increase by more than 28 per cent.
The Dow Jones Industrial Average Index (DJIA) is expected to react to the Dollar General earnings which are yet to be announced. The Dollar General Corp has been on a two-day consecutive uptrend. On Wednesday, shares of the Dollar General Corp went up by 0.56 per cent to $199.98. The company was expected to record a decline due to the post-pandemic effects.
GameStop shares increased by 15.8 per cent to $242.56, its highest since mid-March. The company’s stocks are up 41.99 per cent. The company’s stock jumped 17 per cent after the GameStop announced its investment in NFTs. Its resistance went up to more than $200. The stocks are likely to be on a strong upward trend for the next few days.
US Data Outlook
The Dow Jones index will react to the initial jobless claims data to be released on Thursday. Analysts expect 425,000 Americans to have filed for unemployment benefits in the past week. Jobless claims are expected to decline from 3.75 million to 3.68 million. Despite being a small change in the unemployment rates, it is expected to positively affect the DJIA.
Investors are closely eyeing the United States GDP which is to be released on Tuesday. Fears of tightening of the monetary policy are still looming all over the market. The Federal Reserve is approaching a discussion on tightening the monetary policy. Economists expect core PCE prices to rise 2.9 per cent more than last month’s and the GDP to increase by 6.5 per cent.