Dow Jones: What is it and how to invest in it?

In this article we will discuss the following questions:

• What is the Dow Jones Index?
• What companies are included in Dow Jones?
• Dow Jones: what determines the price of the index?
• Dow Jones Index: why invest in it?
• Dow Jones Index: How Much Money Do You Need to Start Investing?
• How to invest in the Dow Jones index?
• How to analyze the Dow Jones index?
• Dow Jones: trading strategies!
• Dow Jones: how to start investing?
• Why start investing in the Dow Jones with Admiral Markets?

Let's start!

Advantages and disadvantages

There are many indices in the USA, and they are always compared with DJ indicators. The Dow Jones itself loves securities with high prices, even if the issuing company is smaller than its neighbors in the portfolio. So it turns out that the indicator is most influenced by companies with expensive shares, and this is wrong when their capital is modest.

This is due to the correction factor. But he's not that bad. It is impossible to derive the arithmetic average by dividing the sum of shares by 30: then the market dynamics will be left out.

The index at least takes it into account, but shareholders still evaluate the Dow Jones against the background of another important indicator - the Standard & Poor 500. This is also an index, and it has a base indicator, unlike the Dow.

What is the Dow Jones Index?

The Dow Jones Index gets its name from Charles Dow, who created the index in 1896, and his business partner Edward Jones. The benchmark for the Dow Jones Industrial Average on May 26, 1986 is 40.94.

Here are some interesting facts about the Dow Jones Industrial Average:

☝️ The Dow Jones Industrial Average is the second oldest stock index in the United States after the Dow Jones Transportation Index. The latter includes shares of 20 transport companies, a considerable part of which are railways.

☝️ DJI30 is also a blue chip index in the US. That is, the shares included in it are shares of the most liquid, large and reliable companies with stable profitability.

☝️ The Dow Jones Industrial Average is a price-weighted index, meaning that higher-priced Dow Jones stocks are weighted more heavily. A similar index is the Japanese Nikkei 225. It is this quality that some analysts consider a disadvantage.

☝️ The popular Dow Jones index is often used as an example to represent the US stock market.

At the same time, Dow Jones is one of the oldest indicators of the health of the US economy:

❇️ If the US economy is growing, then DJI30 is growing.

❇️ If the US economy is in crisis, the DJI30 index decreases.

Now let's see who participates in the Dow Jones index.

Stock selection criteria

The approach is somewhat non-standard. There are no clear criteria for selecting securities; a special committee (Averages Comittee) takes into account such factors as:

• Business reputation
• Sustainability of business growth at a distance
• Belonging to a specific sector of the economy
• Attractiveness from an investor's point of view

The committee takes into account these quality criteria and makes decisions based on this. For example, over the past 15-20 years, more than 10 technology companies have been included in the Dow Jones Industrial Average. Thus, the committee took into account the growing role of the IT segment. At the same time, representatives of the transport sector are not added to the DJIA, since they are included in another index from the Dow family.

As for the composition of the committee, it includes 5 people. Three of them are representatives of S&P Dow Jones Indices, and two more are from The Wall Street Journal.

The committee solves 2 problems. The listed 5 people not only review the composition of the basket, but also monitor the adequacy of the methodology for compiling US30 as a whole. At least once a year, the committee decides on the advisability of changing the calculation methodology as a whole.

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What companies are included in Dow Jones?

When created, the Dow Jones stock index was an arithmetic average of the stock prices of 12 US industrial companies. Of these 12 companies, the last remaining company in the index was General Electric, which also lost its place in June 2022.

In 1928, the Dow Jones Industrial Average grew to 30 companies and changed its composition a total of 51 times. The first change occurred just 3 months after the index was released, and the most recent was in August 2022, when Exxonmobil, Pfizer and Rytheon Technologies were replaced by Salesforce, Amgen and Honeywell.

To date, the oldest member of the Dow Jones Industrial Average is Proctor and Gamble, which was added to the index back in 1932.

Now that you know the names of all the Dow Jones stocks, let's see how these companies are distributed by economic sector:

Source: spglobal.com

Since the index includes the most reliable companies with stable profitability, traders often turn their attention to it. Of course, before you start trading directly, you need to train, choose the right platform for yourself, the necessary tools and practice a little.

Try this on a demo account: in fact, it will allow you to trade in a safe virtual environment in which you risk nothing, but can see what results your actions would bring you in the real market. Click on the banner below and get started, it's completely free:

Dow Jones: what determines the price of the index?

Changes in the Dow Jones price can be caused by many different factors, some of which are temporary. Therefore, here we list some basic signs by which you can predict the price behavior of the Dow Jones Index in advance:

➡ Federal Reserve Monetary Policy

. In most cases, looser monetary policy (low interest rates, economic stimulus) is considered to have a positive effect on Dow Jones prices, while tighter policy (high interest rates, no stimulus) is generally considered to have a negative effect.

➡ Economic data on the US economy.

When published data exceeds analysts' expectations, the Dow Jones index usually receives more support from investors, and conversely, a poor report can reduce the price of the index.

➡ Political and economic stability.

Stable political and economic relations between the United States and other major economies of the world contribute to the growth of the index, while tension affects it negatively.

➡ US dollar price

. The price of the dollar has always influenced the Dow Jones index, since previously it was believed that a high dollar exchange rate had a positive effect on the price of the Dow Jones, but now the opposite is true - the index is supported by a cheap dollar.

➡ Reports of companies included in Dow Jones

. Most companies in the US publish their quarterly reports, and a good report is likely to trigger growth, while a bad report will push it down.

It is very important for traders and investors who follow the Dow Jones index to monitor any changes in the macroeconomics, read reports and know what is happening with the dollar exchange rate, this will help make a more informed decision.

Factors influencing DJIA

When working with US 30, consider the influence from:

• Oil prices . Quotes of “black gold” greatly influence the index’s performance despite the fact that the IT sector is in the lead in the basket.
• Sudden changes in the cost of individual components. Due to ignoring the capitalization factor, a collapse or sharp increase in any of the components of the basket can provoke the same behavior of the entire DJIA. A good example is the 3,000 point drop in 2008, the main reason for this was the collapse of AIG's stock. In the S&P 500, such a scenario is excluded - the basket is an order of magnitude larger, and the capitalization factor would soften the impact of the price of AIG securities.

• The general state of the world economy . The same pandemic provoked a fall in all stock indices without exception, and the DJIA was no exception.
• High correlation with other major US indices.
• Dependence on US foreign policy.

This is a standard set of influencing factors for indexes of this size. These should be taken into account for long-term work; intraday work will require more emphasis on technique.

Dow Jones Index: why invest in it?

Different people have completely different goals in life. Maybe a person has a goal to make a fortune in the long term, or pay for their child's education, or create their own successful business, or retire so that they end up not needing anything. After all, sometimes you just want to increase your income.

There are many ways to achieve each of these goals, but more and more often people are coming to the conclusion that the most convenient and relevant of them is investment. Why? Let's look at the state of the economy right now. What do we see?

❌ Almost zero interest rates;

❌ Inflation, which significantly exceeds them, and which makes the idea of ​​​​creating a deposit account completely unprofitable;

❌ Current programs to stimulate the global economy, central banks are simply forced to increase the money supply, which means in the future inflation will become even faster;

❌ Difficult economic situation amid the pandemic.

Now let's look at what you can get by investing your money in the Dow Jones index:

✅ Reliability: This is one of the oldest indices in the world, over 120 years old, it still regularly updates its composition, and its price continues to rise.

✅ You get opportunities for capital growth while creating passive income in the form of dividends.

✅ Portfolio diversification: you can choose those companies that inspire you the most confidence and distribute your capital between their shares. This approach will minimize the risks, you can read more about this here.

✅ You will be able to protect your capital from inflation, since, for example, the Dow Jones index will be able to offer you growth that is quite comparable to the growth of inflation.

✅ High liquidity as some tech stocks are among the most traded in the world.

✅ And thanks to high liquidity, you will have the opportunity to trade with maximum profit (usually in such cases, brokers offer a small spread).

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Tips for traders: Dow Jones, S&P 500 and NASDAQ

Knowing which companies are included in each stock index can help traders understand how market conditions may affect the stocks in the underlying index. For example, during the dot-com bubble, the NASDAQ significantly outperformed the rest of the US markets as investors frantically bought tech stocks.

Paying close attention to breaking news, political or other events such as natural disasters that may affect the economy or stock market can cause traders to exit their positions early before herd mentality kicks in or panic sets in.

Stock indices can be part of a well-diversified trading portfolio consisting of other uncorrelated assets such as commodities, cryptocurrencies, forex, etc.

Traditional markets are now more volatile than ever as the market tries to factor in the looming recession and global pandemic.

Dow Jones Index: How Much Money Do You Need to Start Investing?

Now that you know what the Dow Jones is and why you should invest in it, let's look at another practical question: how much money do you need to start investing?

The answer to this question depends mainly on three factors:

1️⃣ Your personal capabilities

2️⃣ Your personal financial goals

3️⃣ Your personal risk tolerance

Personal capabilities vary greatly from one investor to another, so it is impossible to determine an exact amount to start with.

What you really need to do is determine your financial goals. What will you need in the future? Perhaps you want to buy a house or a car, fund your child's education, are planning a holiday abroad, want to start or grow a business, or simply need to have enough money when you retire.

The answers to these questions will give you insight into your financial goals.

The next aspect you need to consider is your risk tolerance. This aspect must be approached with particular caution. It is necessary to take into account current income, savings, expenses, financial obligations (for example, mortgage payments) and adequate financial security for life and health. And we should not forget about our own temperament!

You also need to determine how soon you want your money back, that is, how soon you need profit. Based on this, you can determine the timeframe with which you will trade. This means promotions suitable for your timing.

There are also different instruments that can be used for trading, all of them are traditionally traded with different time frames, have different degrees of risk, but you also need a suitable intermediary, that is, a reliable broker with whom you can implement your trading ideas! Let's figure out how to start investing in general:

How to analyze the Dow Jones index?

There are two main types of analysis in financial markets – fundamental and technical. Below we'll look at how you can use both of them when analyzing the Dow Jones Industrial Average.

Dow Jones Fundamental Analysis

Fundamental analysis relies on the interpretation of various economic and political news stories to help you predict the direction of the next Dow Jones price trend.

How to do fundamental analysis of Dow Jones?

➡ Assess the economic condition of companies included in Dow Jones;

➡ Assess the state of the American economy;

➡ Identify factors that may negatively affect it;

➡ Follow geopolitical and economic news;

➡ Wait for the right time to wait for growth in the US economy.

As we learned earlier in the article, the Dow Jones reflects the state of the US economy. This is why economic news from the US often affects its price.

We have compiled a list of major economic news and events that could affect the Dow Jones price:

✴️ Fed interest rates;

✴️ Fed press conferences;

✴️ Unemployment and new jobs outside the agricultural sector;

✴️GDP growth rate;

✴️ Inflation data;

✴️ Retail sales;

✴️ Trade balance;

✴️ Orders for durable goods;

✴️ Consumer trust.

For example, if data on new non-farm payrolls is better than analysts predicted, this is a good signal for the US economy. And most likely this will have a positive impact on the index price.

More information on various economic news and events can be found in the Forex calendar from Admiral Markets.

Dow Jones technical analysis

Technical analysis is the study of historical price patterns in the price of a financial asset in order to predict future movements. There are many tools you can use to do this, but most Dow Jone analysts focus on:

✅ Charts. This type of technical analysis uses tools that are plotted on the Dow Jones chart, such as support and resistance levels, trend lines, and Fibonacci levels. With the help of these tools, certain figures are built on the chart, for example, double top, triple top, triangle base, and so on. All this is necessary to understand exactly where the price will move next.

✅ Japanese candles. In this case, analysts use Dow Jones price charts with Japanese candlesticks, which include the opening price, closing price, high and low price for a certain period of time. This way you can find some clues about the behavior of buyers and sellers during this period.

✅ Technical indicators. This type of technical analysis involves the use of indicators to understand market conditions. For example, many technical indicators give signals when the market is overbought or oversold. Others provide market analysis and can provide short-term forecasts.

There are many ways to technically analyze the price movement of the Dow Jones. However, in all cases, the technical analyst uses historical price information to identify recognizable repeating patterns.

These models are then used to help the trader determine market conditions as well as possible entry and exit points.

If you feel like you need more information on technical and fundamental analysis of financial markets, try our “Zero to Hero” course, it will help you gain a better understanding of trading in 21 days. Click on the banner to get started:

Index history

The indicator was invented by three people, and it is named after two of them. I restore justice by taking off my hat to Charles Bergstresser (even if he has a surname - you’ll break your tongue). It was he who came up with the name “The Wall Street Journal” and became its founder. The businessman, along with two friends, Charles Dow and Edward Jones, opened a financial information agency, investing money saved in college.

Charles, the Dow, became the father of technical analysis by developing stock market theory. All traders know her because she studies basic indicators.

Charles invited Edward Jones as a financial analyst, and in another newspaper, in which the journalists worked before his magazine. Edward then also worked as a broker.

At first, the settlement included the securities of 9 railroad magnates, one shipping company and a bank. For this reason, the then thin newsletter - just two pages of invaluable information - sold well. The trio of analysts hired 50 employees and opened the newspaper we know today. At that time the indicator assessed 20 companies, not 30 as it is now.

The headquarters is located in New York City, where the largest exchange is located.

Dow Jones: trading strategies!

There are many types of Dow Jones trading strategies that a trader can choose from. In fact, their number can even be scary, but don’t worry, the fact is that they are all quite different, and suit different people, from different walks of life, with different tasks and different temperaments.

Once you start to get your bearings, you'll quickly find a few options that are just right for you, and that's the beauty of diversity: there's something for everyone! Whether it is short-term or long-term trading with the Dow Jones Industrial Average, most of the techniques and methods fall into the following types of trading strategies:

✔️ High frequency trading with timeframes from a few seconds to a few minutes

✔️ Scalping from a few minutes to several hours

✔️ Intraday trading

✔️ Swing trade for a period from several days to several weeks

✔️ Position trading for a period from several weeks to months

✔️ Investment for years

High frequency trading is usually automated and carried out using various advisors (robots). The reasons are that the duration of trades can be only a few seconds, and here any, even the tiniest time period can matter.

Scalping with a timeframe of several minutes and day trading will give you more freedom and the opportunity to make independent decisions, without automation. And with such a timeframe, you can quickly see the result of your actions!

Swing trading lasts longer and positions can remain open for more than a day, up to several weeks. This style of trading is very suitable for people who have another main activity and use trading as a second source of income.

Position trading and investing are very long-term approaches where positions can remain open for months or even years, and are typically practiced by much calmer traders and investors.

So, regardless of your profile and trading style, Dow Jones CFDs can be an excellent choice for investing or simply for diversifying your portfolio;

Correlation matrix of Dow Jones and other instruments

In this part of the article, it is useful to note the relationship between the price movement of the Dow Jones and other US stock indices such as the S&P 500 and Nasdaq. This is easy to check, just look at the correlation between various stock indices and DJI30 using a tool called Correlation Matrix.

This tool is included in the exclusive plugin for MetaTrader platforms - MetaTrader Supeme Edition, which Admiral Market clients have access to. In just one window you can see the relationship between the prices of several different instruments and evaluate potential trading opportunities.

Here is an example of a correlation matrix:

Source: Admiral Markets, MetaTrader 5 Supreme Edition.

The financial instrument charts in this article are for illustrative purposes and do not constitute trading advice or an offer to buy or sell financial instruments offered by Admiral Markets (CFDs, ETFs, shares). Please note that the data presented refers to past performance and is not a reliable indicator of future results.

So, what conclusions can be drawn from the above image of the correlation matrix:

✴️ A strong direct correlation of Dow Jones with some other stock indices, such as S&500 (+93), DAX 30 (+95), Nikkei 225 (+94) is clearly visible.

✴️ Dow Jones price tends to move in the same direction as another risky asset such as WTI oil.

Take advantage of the correlation matrix and over 60 additional features by downloading MetaTrader Supreme Edition now, completely free. All you have to do is click on the banner below:

Criticism of the Dow Jones index, its comparison with its main competitor

DJIA is not perfect, and at least several of its features deserve criticism. These include:

• Weighting by price, not by capitalization . The calculation methodology itself ignores such an indicator as business capitalization. In the section on studying the Dow Jones calculation methodology, this issue was examined in more detail. Regardless of capitalization, a $1 change in the price of any share in the basket leads to the same change in DJ US quotes.
• Lack of clear criteria for adjusting the cart . The requirements are not formalized; in the end, everything is left to the discretion of the committee.
• Due to the too narrow basket, various sectors of the economy are represented by a small number of companies . An entire industry can be represented by 1-2 companies.

It is precisely because of these features that the DJIA is not suitable for the role of a universal barometer of the entire US stock market. A basket of 30 components cannot characterize such a large-scale market as the American one.

If we compare it with its direct competitor, the S&P 500, the latter is more suitable as an indicator characterizing the US economy. It includes 500 companies, different sectors of the economy are more adequately represented, there are clear criteria for revising the composition, and free-float capitalization is taken into account in the calculation.

This comparison does not mean that the DJIA is worse or better than the S&P 500. Both instruments are suitable for both investing and active trading.

Dow Jones: how to start investing?

Start trading and investing in the Dow Jones and over 8,000 financial instruments in just 3 simple steps:

Now that you know what the Dow Jones index is, why you should start investing in it, how much money you need to invest and how you can do it, it’s time to move on to the most interesting part. That is, to the investment itself.

To do this you need to follow three simple steps:

1️⃣ Open an account.

2️⃣ Download the Dow Jones trading platform.

3️⃣ Open the New Order window and make your first deal!

Here's an example of how to buy/sell CFDs on the Dow Jones index.

How to buy CFD on Dow Jones?

1️⃣ Log in to your Admiral Markets account (MT4/MT5 /WebTrader/Mobile application).

2️⃣ Go to market status.

3️⃣ Find CFDs on Dow Jones [DJI30].

4️⃣ Use the one-click trading feature on the chart or right-click and select Trade -> New Order.

5️⃣ Select entry level, stop loss, target levels and position size (volume) and then confirm the trade.

6️⃣ Click the blue “Buy on the market” button.

How to sell Dow Jones CFD?

1️⃣ Log in to your Admiral Markets account (MT4/MT5 /WebTrader/Mobile application).

2️⃣ Go to market status.

3️⃣ Find CFDs on Dow Jones [DJI30].

4️⃣ Use the one-click trading feature on the chart or right-click and select Trade -> New Order.

5️⃣ Select entry level, stop loss, target levels and position size (volume) and then confirm the trade.

6️⃣ Click the red “Sell” button.

What affects the price

It is difficult to predict the dynamics of the Dow. Yet I took a chance and identified the key factors that influence it. As always, with examples:

• Political situation and global events. Stocks are a risky financial instrument. When US bonds become more attractive, US investors sell them and “drop” the index.
• Sometimes the Dow fluctuates in bubbles. This is what they call economic success based on speculation. Right now the exchange is 2 times stronger than before the crisis (S&P 500 data), but the volume of transactions is half as much.

Why start investing in the Dow Jones with Admiral Markets?

✔️ You are protected by the world's leading financial authorities.

✔️ You get unlimited negative balance protection for a retail client and limited to €50,000 for a professional client.

✔️ Your funds are stored in separate accounts.

✔️ You have access to leverage of up to 1:30 for a retail trader and up to 1:500 for a professional.

✔️ Your orders are processed very quickly.

✔️ You trade mini-lots available for CFDs on the S&P500: from 0.10 lots to 0.09 cents per point!

✔️ You don't need to recalculate anything, we offer direct market order management;

✔️ You do not have a minimum spread for stop loss (SL) and take profit (TP) on the S&P500.

✔️ You can trade on any price direction of the index!

How and where to make money on the index

The index is an old, effective tool used by billionaires and ordinary people alike. For example, an inexperienced investor wants to preserve capital. What does world practice offer?

Buy securities of all companies from the index at once, invest a little in each. If one falls, the other will rise in price. I’ve written a lot about the easiest way to do this, but you can start with this article. The income, of course, will be the average market one, but you can save your pension - the money will not melt away from inflation.

The method is so popular that a new financial instrument has emerged - ETF funds. They copy the composition of some index for a portfolio and enclose it in one security. So, an investor buys one security, and along with it an entire portfolio.

The most popular Dow-based funds:

1. DIA by StateStreet
2. UDOW and DDM from ProShares (with leverage)

You can buy such a fund through one of the popular foreign brokers:

Interactive Brokers CapTrader Exante Just2Trade

In fact, the only real major American broker who still works with Russians.

Pros:

1. There is support in Russian
2. Good commissions
3. The deposit can be replenished with rubles (bypassing currency control)

The disadvantages include:

• Minimum deposit $10,000
• Inactivity fee

Read the review for the full set of working conditions.

German IB introducing broker for direct access to foreign markets. This is where my investment portfolio is located.

Pros:

1. works with Russians
2. Availability of a Russian-language version of the site
3. reasonable commissions
4. no fee for inactivity
5. insurance under US law for $500k

The disadvantages include:

• Support exclusively in English and German
• The support service itself is poor

For a detailed review, see this post.

Another interesting broker for going abroad, and not from the IB family. Unfortunately, contracts are opened for Russians only in Cyprus.

Pros:

1. Acceptable commissions
2. The fact of successful verification of work by the SEC
3. Russian-language website and support

On the downside:

• Cyprus jurisdiction
• Inactivity fee

Read a detailed review here. You can get a $500 bonus when opening an account here.

The company is an American subsidiary of Finam and was created to bring clients from the CIS to the American market.

Pros:

1. The easiest way to open an account
2. Russian-language support
3. Opening an account from $200

Minuses:

• Quite high commissions
• Various additional payments

Read the fullest review here.

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Caution (about Forex and Binary Options)

Brokers offer to make money on CFDs and binary options - secondary financial products. There are financial markets for this: register and trade for free. Only these sites have nothing to do with the real exchange - these are traps for scammers. If a “broker” calls you, ask only one question that will weed out 90% of scammers: “Do you have a Central Bank or SEC license?”

About Admiral Markets

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INFORMATION ABOUT ANALYTICAL MATERIALS:

The following contains additional information regarding analytics, opinions, forecasts or other similar information (“Analytics”) published on the Admiral Markets website. Before making any investment decisions, please pay particular attention to the following:

1. You are dealing with marketing communications. Analytics are published for informational purposes only and cannot be construed as investment advice or recommendations. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing before disseminating investment research.
2. Each investment decision is made independently by each client, and Admiral Markets is not responsible for any loss or damage arising as a result of such a decision, regardless of whether the client relied on the information provided in the Analytics in making the decision or not.
3. In order to protect the interests of our clients and the objectivity of the Analysts, Admiral Markets has established appropriate internal procedures to prevent and manage conflicts of interest.
4. The analysis is prepared by an independent analyst Boris Petrov (hereinafter referred to as the “Author”) based on the personal experience and judgment of the Author.
5. Although all reasonable measures have been taken to ensure the reliability, accuracy, availability and timeliness of the Analytics, Admiral Markets does not guarantee the accuracy or completeness of the information contained therein.
6. The Analytics contained in the Publication about the profitability of financial instruments for past periods, or about their modeled profitability, does not constitute a direct or indirect promise, guarantee or reference on the part of Admiral Markets regarding the profitability of these financial instruments in subsequent periods. The value of a financial instrument can either rise or fall, so the preservation of the value of the assets is not guaranteed.
7. Leveraged trading (including CFDs) is speculative in nature and may result in profits or losses. Before you start trading, make sure you understand the risks involved in trading.

Types of DJ

The DJ DowJones Industrial Index can be written in short as DJI (and DJIA is a futures contract, by the way). We have already realized that it does not belong to industry. Besides this, there are the following options: