Dow Jones breaks above its 100-day moving average
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The Dow Jones (DJI) and its mirroring exchange traded fund SPDR Dow Jones Industrial AVERAGE fund (NYSEARCA:DIA) moved above its 100-day moving average and looks to close above the technical level for the first time since September 12th.
The Dow which now trades around the 31,560 level on Monday afternoon is +1.5% as the index has picked up 475 points.
Aside from DIAâs topside move, other leveraged Dow-based ETFs have jumped even higher on Monday. The 2X leveraged Ultra Dow30 (NYSEARCA:DDM) is +3.1% and the 3X UltraPro Dow30 (NYSEARCA:UDOW) is +4.7%.
Powering the Dow higher are shares of Amgen (AMGN), Home Depot (HD), Walmart (WMT), Honeywell International (HON), and Coca Cola (KO). Heading towards the close and AMGN is +3.7%, HD has risen by 3.1%, while WMT, HON, and KO are up 2.4%, 2.7%, and 3.1% respectively.
Despite the positive start to the trading week, the Dow Jones still sits lower year-to-date by 13.3%.
In broader market news the other major averages are also tracking higher as investors parsed through global events in China and the U.K.