- The Dow Jones cycled near familiar levels on the first trading day of 2025.
- Tepid intraday flows crimp hopes for a ‘Santa Clause rally’.
- Initial Jobless Claims improved, but not enough to spark a firm risk-on bid.
The Dow Jones Industrial Average (DJIA) fizzled on Thursday, kicking off the 2025 trading year with a flat performance and churning chart paper near 42,500. Equities were middling overall during the US market session, with early gains reversing through the day.
The first week of 2025 remains thin on the economic calendar overall, though US ISM Manufacturing Purchasing Managers Index (PMI) survey results are due on Friday. US Initial Jobless Claims rose 211K through the week ended December 27, below the forecast uptick to 222K from the previous week’s revised print of 220K.
Dow Jones news
Roughly a third of the Dow Jones’ constituent stocks are in the green on Thursday, with Nvidia (NVDA) rebounding 1.8% after a near-term dip and rising toward $137 per share. Despite the upswing in 2024’s tech rally darling, concentrated losses in other market favorites including Boeing (BA) and Apple (AAPL) are keeping the DJIA hobbled for the new year, with both companies falling 3.5% and 3%, respectively.
Dow Jones price forecast
The Dow’s mixed performance on Thursday has chalked a wide range into the intraday chart with the major equity index starting the day with a 300-point gain before reversing course and backsliding to a -300 loss. The DJIA peaked just north of 42,800 before falling back below 42,250.
Bearish flows from the tail-end of 2024 are continuing into the new year, keeping the Dow capped below the 50-day Exponential Moving Average (EMA) which is rolling over into a bearish stance below 43,270. If bearish momentum accelerates, it’ll put the DJIA on pace for a fresh challenge of the 200-day EMA near 42,120.
Dow Jones daily chart
Economic Indicator
Initial Jobless Claims
The Initial Jobless Claims released by the US Department of Labor is a measure of the number of people filing first-time claims for state unemployment insurance. A larger-than-expected number indicates weakness in the US labor market, reflects negatively on the US economy, and is negative for the US Dollar (USD). On the other hand, a decreasing number should be taken as bullish for the USD.
Read more.Last release: Thu Jan 02, 2025 13:30
Frequency: Weekly
Actual: 211K
Consensus: 222K
Previous: 219K
Source: US Department of Labor
Every Thursday, the US Department of Labor publishes the number of previous week’s initial claims for unemployment benefits in the US. Since this reading could be highly volatile, investors may pay closer attention to the four-week average. A downtrend is seen as a sign of an improving labour market and could have a positive impact on the USD’s performance against its rivals and vice versa.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks

Gold hovers around all-time highs near $3,250
Gold is holding steady near the $3,250 mark, fuelled by robust safe-haven demand, trade war concerns, and a softer-than-expected US inflation gauge. The US Dollar keeps trading with heavy losses around three-year lows.

EUR/USD retreats towards 1.1300 as Wall Street shrugs off trade war headlines
The EUR/USD pair retreated further from its recent multi-month peak at 1.1473 and trades around the 1.1300 mark. Wall Street manages to advance ahead of the weekly close, despite escalating tensions between Washington and Beijing and mounting fears of a US recession. Profit-taking ahead of the close also weighs on the pair.

GBP/USD trims gains, recedes to the 1.3050 zone
GBP/USD now gives away part of the earlier advance to fresh highs near 1.3150. Meanwhile, the US Dollar remains offered amid escalating China-US trade tensions, recession fears in the US, and softer-than-expected US Producer Price data.

Bitcoin, Ethereum, Dogecoin and Cardano stabilze – Why crypto is in limbo
Bitcoin, Ethereum, Dogecoin and Cardano stabilize on Friday as crypto market capitalization steadies around $2.69 trillion. Crypto traders are recovering from the swing in token prices and the Monday bloodbath.

Is a recession looming?
Wall Street skyrockets after Trump announces tariff delay. But gains remain limited as Trade War with China continues. Recession odds have eased, but investors remain fearful. The worst may not be over, deeper market wounds still possible.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.