Why is the Dow Jones today holding near 48,000?

A spike in Treasury yields, thin liquidity, and profit-taking after strong 2025 gains have capped rallies. Higher yields raise discount rates, pressuring long-duration stocks. Buyers want fresh confirmation from ISM, the January jobs report, and the Jan 27–28 Fed meeting before pushing the index decisively higher.

What could push the Dow above 48,500 next?

A softer ISM prices-paid reading, cooler wage growth in the jobs report, and a balanced Fed tone could all lower yields. That would support rate-sensitive groups and improve breadth. Clear earnings guidance on margins and demand would add conviction and help the index build support above nearby resistance.

How do rising Treasury yields affect the ASX?

Rising US yields usually weigh on growth, tech, and some REITs on the ASX, while banks and cash-generative cyclicals can hold up better. A stronger USD can pressure the AUD, supporting offshore earners. The mix often favours quality, value, and steady dividends until yields ease again.

What key January dates should Australians watch?

Watch the ISM Manufacturing PMI in early January, the January jobs report later this week, and the Fed meeting on Jan 27–28. These events shape yield direction, rate-cut timing, and sector leadership. Moves around these days often set the tone for portfolios into the next few weeks.

How should I position into the Fed meeting?

Keep a balanced core, avoid overexposure to long-duration growth, and keep some cash for data-day volatility. Use staggered buy levels and review currency hedges. After the Fed, be ready to rotate toward rate-sensitive groups if yields fall, or lean into value and quality if yields stay firm.

Global Market Insights

^DJI Today January 04: Yield Spike, Profit-Taking Keep Dow Near 48k

ByDanny Kontos January 4, 2026January 4, 2026

Dow Jones today is hovering near 48,000 as a jump in Treasury yields and light liquidity keep buyers cautious. Profit-taking from late 2025 has spilled into early January. Investors now look to ISM Manufacturing PMI, the January jobs report, and the Jan 27–28 Fed meeting for clues on rate cuts and sector leadership in 2026. For Australian investors, shifting US rates can sway the AUD, ASX banks, tech, and miners. We outline what to watch and how to position this week.