Everyone checks the big number first thing in the morning, or maybe right as the closing bell rings. It’s a ritual. But if you’re looking for what is the dow average today, you’re seeing a market that’s currently holding its breath. As of the close on Friday, January 16, 2026, the Dow Jones Industrial Average sat at 49,359.33.
It’s down a bit—about 83 points, or 0.2%—from the previous session.
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Numbers like that can feel kinda hollow without context. Is 49,000 high? Well, considering we were celebrating the "road to 40k" not that long ago, yeah, it’s massive. But the vibe on Wall Street right now is "cautious." We’re heading into a long weekend, and investors are clearly squaring up their bets.
What is the Dow Average Today? Breaking Down the Friday Slump
The market didn't just decide to dip for no reason. Honestly, it was a choppy day. The Dow actually opened a little higher before the momentum just… evaporated. We saw the index hit an intraday high of 49,616.70 before sliding down to that 49,359 mark.
Why the hesitation? A few things are hitting at once.
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First, there’s the "tariff tension." We’re still waiting on the Supreme Court to weigh in on the legality of emergency tariff powers, specifically those "Liberation Day" levies from last April. Until that's settled, big industrial companies—the literal "Industrial" in Dow Jones Industrial Average—are playing it safe.
Then you have the rotation.
For the last year, tech was the only game in town. Now? People are actually looking at banks and insurance companies again. It’s weird to see, but the "Magnificent Seven" tech giants aren't the undisputed kings of the hill this week.
The Winners and Losers Under the Hood
Even on a "down" day, some people made money. If you held IBM, you had a decent Friday; they climbed about 2.64%. American Express and Honeywell also stayed in the green, proving that the old-school "value" plays still have teeth when the market gets nervous.
On the flip side, Salesforce took a 2.76% hit. UnitedHealth also dragged the average down, falling more than 2%. Because the Dow is price-weighted—meaning a more expensive stock has more "power" over the index's movement than a cheaper one—a 2% drop in a high-priced stock like UnitedHealth hurts way more than a 2% drop in a cheaper one.
Why 49,000 Matters Right Now
We’ve spent most of January 2026 flirting with the 50,000 milestone. It’s a psychological barrier. We crossed 49,000 for the first time earlier this month, fueled by a "Santa Claus Rally" that actually showed up for once.
But staying there is the hard part.
The December jobs report, which came out recently, showed only 50,000 new jobs. That’s low. Like, lowest-in-22-years low. Normally, that would freak people out, but the unemployment rate actually ticked down to 4.4%. Investors are basically trying to figure out if the economy is "comfortably cooling" or "starting to freeze."
The "Trump Effect" on Market Data
There’s also been some drama with how we get our news. President Trump actually posted unpublished jobs data on Truth Social about 12 hours before the official Bureau of Labor Statistics release. It matched the official numbers perfectly, but it definitely added a layer of unpredictability to how the market processes information.
A Shift in the Winds: Small Caps vs. Blue Chips
If you only look at what is the dow average today, you might miss the bigger story. Small-cap stocks—the ones in the Russell 2000—are actually outperforming the big boys right now.
- Small-caps (YTD): Up about 5.57%
- Dow/Large-caps (YTD): Up only about 0.56%
Basically, investors are betting that the "rotation" is real. They’re moving money out of the massive tech firms that reached peak valuation in 2025 and into smaller companies that might benefit more from the current administration’s "Liberation Day" policies.
What to Watch Next Week
The market is closed Monday for the holiday, so everyone has an extra day to obsess over their portfolios. When we come back on Tuesday, the focus shifts to the big banks. We’ve got earnings coming from JPMorgan Chase, Bank of America, and Goldman Sachs.
If the banks report strong "deal-making" revenue, the Dow could easily make another run at 50,000. If they look shaky, 49,000 might start to look like a ceiling rather than a floor.
Actionable Next Steps for Your Portfolio
- Check your weighting: If your portfolio is 90% tech, you’re likely feeling the burn of this January rotation. Look at those "boring" sectors—Industrials and Financials—that are currently propping up the Dow.
- Monitor the 10-Year Treasury: It’s hovering around 4.17%. If that yield spikes, it’s going to put more downward pressure on the Dow’s price-weighted stocks.
- Don't chase the 50k hype: We might hit 50,000 next week, or we might bounce off it and drop to 47,000. Set your stop-losses now while the market is closed so you aren't reacting emotionally on Tuesday morning.
- Watch the Supreme Court: Any news on the tariff ruling will move companies like Caterpillar and Boeing instantly. Keep a news alert on for "emergency power ruling."
The market is currently in a "wait and see" mode. 49,359.33 is just a number, but the story behind it is one of a market trying to find its next big reason to grow.