The Dow Jones Index futures continued soaring today, February 11, as traders waited for key macro data from the United States and corporate earnings from top companies. It also rallied as Benjamin Netanyahu arrived in Washington to press for war and regime change in Iran. It jumped by 120 points to $50,305, much higher than its April 2025 low of $36,683.
Dow Jones Index futures rally gains steam
The Dow Jones Index futures are soaring today, continuing a bull run that started in 2024 when it bottomed at $36,683. This rally accelerated this week as investors continued accumulating American shares amid the AI boom.
The Dow Jones Index will be in the spotlight in the coming days as investors reacted to the upcoming corporate earnings from some of the top companies in the United States.
More companies are expected to publish their financial results later this week. Cisco and McDonald’s, two of its constituent companies, will publish their financial results later on Wednesday.
Other top companies to watch later today will be T-Mobile, AppLovin, Shopify, Equinix, Hilton Worldwide, and Motorola Solutions.
More earnings will come out on Thursday this week, with the most notable of them being Applied Materials, Arista Networks, Unilever, Howmet Aerospace, Airbnb, and American Electric Power Company.
While all these companies are not part of the Dow Jones Index, their numbers will likely have an impact as investors are still assessing the ongoing earnings growth.
The most recent report by FactSet shows that most companies have reported strong results and boosted their guidance. The average earnings growth for companies in the S&P 500 Index has been 13%, the fifth consecutive quarter of double-digit growth.
US Jobs and inflation data ahead
The next important catalyst for the Dow Jones Index will be the upcoming macro data, which will shed light on the American economy.
The first key data to watch will be the delayed non-farm payrolls (NFP) report, which will come out before the market opens.
Economists expect the data to show that the economy created about 70k jobs in January after adding 50k in the previous month. The unemployment rate is expected to remain unchanged at 4.4%.
The most important report will come out on Friday when the US will release the January consumer inflation data. Economists expect the upcoming report to reveal that the headline and core Consumer Price Index (CPI) slipped to 2.5% and 2.6%, respectively.
In theory, a report showing that inflation dropped should be bullish for the Dow Jones Index as it would raise the odds of the Federal Reserve cutting rates. However, Lorie Logan and Beth Hammack warned that inflation still remains above the 2% target, and the Fed will not have the incentive to cut rates.
The index will also react to the upcoming meeting between Donald Trump and Benjamin Netanyahu, which may lead to an attack on Iran.
Dow Jones Index predictions: Technical analysis
The daily timeframe chart shows that the Dow Jones Index has rebounded from a low of $36,628 in April last year to the current $50,305. It has constantly remained above the 50-day and 100-day Exponential Moving Averages (EMA).
The index has moved to the upper side of the ascending trendline, which connects the highest swings since July last year. It has also formed an inverted head-and-shoulders pattern, a popular bullish reversal sign.
Therefore, the index will likely continue rising as the bullish momentum gains steam. If this happens, the index will likely keep rising as bulls target the key resistance level at $51,000.
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