The S&P 500 is set to score a record finish every day of this past week while the Dow has yet to return to record territory in 2025.

The new dividend will cost about $1 billion a year. Dow is expected to generate free cash flow of about $500 million in 2025, and $600 million in 2026, according to FactSet. That’s a far cry the $5 billion-plus annual average from 2020 to 2023.

In a move that rattled investors, Dow ( NYSE: DOW) cut its dividend. Chief Financial Officer Jeffrey Tate said the reduction reflects a broader effort to navigate a prolonged downturn and uncertain trade landscape, rather than a shift in its long-term earnings outlook.

Dow Inc. shares slumped after the chemical company reported its first quarterly loss in five years as trade and tariff uncertainties weighed on volumes.

Dow swung to a loss in the second quarter after sales declined and halved its dividend to 35 cents from 70 cents.

Dow Inc. (NYSE: DOW) reported a larger-than-expected loss in Q2 and cut its dividend in half due to macroeconomic pressure and trade disruptions.

Dow Inc halved its dividend and forecast third-quarter revenue below analysts' expectations as the chemicals maker grapples with a prolonged industry downturn and tariff uncertainty, sending its shares down over 16% in early trading.

Trump’s tariffs and recent trade deals continue to affect global markets. Follow along for live updates on the Dow, S&P 500 and Nasdaq.