2023-07-26 09:31:07 ET
Ahead of Wednesday's Federal Reserve interest rate decision, the Dow Jones Industrial Average traded at its highest level since February 10th of 2022.
On Tuesday, the Dow topped out at 35,527 before closing at 35,438. The upward move comes after a rate hike cycle that started back in March of 2022, where Chair Jerome Powell and the rest of the Federal Reserve decided to raise rates on 10 separate meetings pushing the federal funds rate up to 5.00% - 5.25%.
Moreover, over that time period the Dow was able to advance a total of 5.3% and climbed out of the 2022 trading hole it dug which took place on September 30th of 2022 where it fell as low as 28,715. Since the low, the benchmark index has rallied 23.4% .
With the Dow sitting at a near 18-month high, see some related Dow-based exchange traded funds and how they fared over the course of the 2023 trading year.
- SPDR Dow Jones Industrial Average ETF Trust ( NYSEARCA: DIA ) +6.9% .
- ProShares Ultra Dow30 ETF ( DDM ) +11.9% .
- ProShares UltraPro Dow30 ETF ( NYSEARCA: UDOW ) +14.5% .
- ProShares Short Dow30 ETF ( DOG ) -5.5% .
- ProShares UltraShort Dow30 ETF ( DXD ) -11.9% .
- ProShares UltraPro Short Dow30 ETF ( NYSEARCA: SDOW ) -18.7% .
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- One more Federal Reserve rate hike expected but hawks, doves differ on what's next
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Dow climbs to near 18-month high ahead of the Fed’s rate decision