Dow Jones Surges 175 Points in 2025 Despite Tech Sector Setbacks

In June 2024, the Dow Jones Industrial Average (DJIA) rebounded impressively, rising by 175 points despite notable declines in major technology stocks like Microsoft and Apple.

Highlights from the Market

• Amgen led the gains with a 2.5% increase, followed by Walgreens Boots Alliance up 2%, and Merck rising 1.3%.
• Microsoft shares dropped 2.4% amid investor anticipation over a critical court hearing regarding its proposed acquisition of Activision Blizzard.
• Apple’s stock fell 1.6% after supplier Foxconn withdrew from a semiconductor manufacturing deal in India.

Investors are closely monitoring upcoming inflation data, which is expected to influence Federal Reserve policies. Despite concerns about potential interest rate hikes and tighter banking regulations highlighted by Fed officials, the Dow showed resilience, advancing 0.5% this session.

The healthcare sector contributed significantly to the Dow’s upward momentum, with pharmaceutical companies like Amgen, Walgreens, and Merck posting solid gains. Meanwhile, the industrial sector outperformed, rising 1.3%, powered by companies such as Honeywell, which announced plans to acquire Israeli cybersecurity firm Scadafence, and Caterpillar, which added 1% to its stock value.

Conversely, technology stocks faced pressure. Microsoft’s stock declined as investors await a U.S. District Court decision on whether the Federal Trade Commission will be granted a temporary injunction to block its Activision Blizzard merger—a ruling expected this week that could halt the deal entirely.

Apple’s shares were also impacted after Foxconn backed out of a semiconductor plant project in India, a move that complicates Apple’s strategy to diversify its supply chain away from China amid geopolitical tensions.

Additionally, telecom stocks such as Verizon and AT&T saw declines following reports about environmental concerns related to abandoned lead-covered telephone cables, potentially leading to costly cleanups.

As the market anticipates Wednesday’s Consumer Price Index inflation report, investors remain cautious but optimistic about the Dow’s ability to sustain gains amid sector-specific challenges.

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