Dow Jones has launched a new brand to benefit from its current roster of partners and resources, which aims to focus on “personality finance.”
According to Raakhee Mirchandani, content editor for the Dow Jones, the digital-only site is to be called 'Moneyish' and is set to target Millennials. The site is to be launched by the Dow Jones Media Group and will be separated from the Dow Jones’ current audience despite its backing from its current sources.
The investment and expansion through Moneyish would be a joint venture between the Dow and MarketWatch as a Wall Street focused brand, but would not carry the same tone as MarketWatch and would be targeted to a social-media audience.
Moneyish would be the second digital property of the Dow Jones, which is millennial-focused and is poised for long-term success.
Dow Jones Recent Decline
Since January, the Dow Jones Industrial Average has recorded back-to-back losses, losing a 23-day high after the energy sector declined further on the S&P 500.
It recently lost around 29 points on 0.1% with more than ten stocks under the index trading higher during the day around 0.06% each and around seventeen stocks losing during the day by more than 1%. Stocks under the DJIA are currently in a shock after the wide sell-off in the pharmaceutical sector.
The Dow also plummeted further as US President Donald Trump posted a tweet regarding his plan to bring medicine prices down, sending stocks in the pharmaceutical and health sector down.
How The Dow Could Rise
Despite the recent slump of the Dow Jones, it recorded a 1000 point jump last week to 21,000 recording the fastest rally for the first time. Analysts are currently debating on how this would send the Dow Jones to 30,000 sooner and would potentially send stocks higher in the next few weeks or even days.
Among the biggest winners in the past weeks includes banking and energy stocks while the real estate sector and utility stocks fell behind. The US Dollar Index Futures also led the rise of the Dow Jones as the US dollar rose higher against a basket of other major currencies.
There is also the current bullish outlook of the markets as U.S President Trump intends to cut business taxes, especially for those companies working solely in the United States and other business-friendly policies he intends to propose. The Federal Reserve has also hinted that the next interest rate hike may be announced this month.