Dow Jones Today: DJIA Climbs as Oil Slips ahead of ‘Hormuz Coalition’ Announcement

The Dow Jones (DJIA) is trading higher on Monday as cooling oil prices ease inflation concerns.

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Futures on Brent crude (BZ), the international benchmark for oil, are down by 1%, while WTI crude oil futures (CL), the U.S. benchmark, are down by 2.5%. However, U.S. gas prices have yet to reflect the decline and have risen by 25% to $3.71 per gallon since the start of the U.S.-Iran war on February 28.

Oil futures are reacting to news that President Trump will announce the participating countries of a “Hormuz Coalition” as soon as this week, according to the Wall Street Journal. The coalition would escort tankers traveling through the Strait of Hormuz, with Trump requesting countries to provide warships, drones, and other military assets.

“Hopefully China, France, Japan, South Korea, the UK, and others, that are affected by this artificial constraint, will send Ships to the area so that the Hormuz Strait will no longer be a threat by a Nation that has been totally decapitated,” Trump said in a Truth Social post.

Meanwhile, Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng over the weekend in Paris to discuss trade and described the talks as “very good.” Still, he cautioned that the Trump-Xi summit scheduled for March 31 to April 2 could be delayed as a result of the war.

Trump has continued to emphasize U.S. progress in the war and told PBS White House Correspondent Liz Landers that he is open to striking Kharg Island again. The island is controlled by Iran and serves as the country’s main oil export terminal.

The Dow Jones is up by 0.73% 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.

All six tech stocks in the index are trading higher, led by Salesforce CRM +2.63% ▲ and Nvidia NVDA +2.34% ▲ . Salesforce announced this morning that it had begun buying back 103 million shares worth roughly $25 billion. “We are aggressively repurchasing shares because we are so confident in the future of Salesforce,” said CEO Marc Benioff.

Elsewhere, consumer cyclical stocks are also rising, as lower oil prices have calmed inflation fears. In addition, Boeing BA +1.71% ▲ is in the green, shrugging off news that Atlas Air, one of its largest 747 customers, placed an order for 20 Airbus (EADSY) A350F freighters.

Is the Dow Jones a Good Long-Term Investment?

The SPDR Dow Jones Industrial Average ETF DIA +0.83% ▲ 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 $533.57, implying upside of 12.32% from current prices. The 30 holdings in DIA carry 30 buy ratings, zero hold ratings, and zero sell ratings.

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