Stock Market - Forecast - 2018/2020

TRADING ECONOMICS expects stock markets to fall further and more rapidly than most investors anticipate on speculation that economic growth will be hurt by an ugly trade war between the United States and China. In addition, geopolitical tensions between Saudi Arabia and Iran, Russia and the European union are likely to take center stage in the second part of 2018 hurting investors appetite for risky assets even further. Then, the removal of excessive monetary liquidity from the financial system by central banks will make it more expensive for companies to borrow to buy their own stocks and investors to take loans to leverage their stock portfolios. TRADING ECONOMICS provides forecasts for major stock market indexes and shares based on its analysts expectations and proprietary global macro models. The current forecasts were last revised on April 4 of 2018. Please consider that while TRADING ECONOMICS forecasts are made using our best efforts, they are not investment recommendations.


Major Price Day Q2/18 Q3/18 Q4/18 Q1/19
Dow Jones 24,812 75.05 -0.30% 22,844 22,146 21,472 20,817
S&P 500 2,728 5.53 -0.20% 2,506 2,434 2,365 2,298
NASDAQ 100 6,950 0.00 0.00% 6,112 5,878 5,652 5,435
NASDAQ 7,424 0.00 0.00% 6,700 6,466 6,242 6,024
S&P MidCap 400 1,952 1.02 0.05% 1,805 1,751 1,699 1,648
US 600 1,005 0.43 0.04% 899 869 839 810
Russell 2000 1,628 0.61 0.04% 1,461 1,413 1,365 1,320
S&P VIX 12.53 0.05 0.10% 14.78 9.12 5.63 3.47
US 100 10,211 37.03 -0.36% 9,659 9,393 9,134 8,882
NIKKEI 225 22,455 30.47 0.14% 20,471 19,710 18,976 18,270
FTSE 100 7,717 71.70 -0.92% 6,826 6,656 6,490 6,327
FTSE All 4,245 33.57 -0.78% 3,773 3,685 3,599 3,514
DAX 12,855 121.75 -0.94% 11,500 11,143 10,796 10,460
CAC 40 5,548 17.40 -0.31% 4,963 4,817 4,674 4,536
FTSE MIB 22,749 162.63 -0.71% 21,478 20,705 19,959 19,241
IBEX 35 9,996 29.00 -0.29% 9,148 8,839 8,540 8,251
Australian All 6,139 5.20 -0.08% 5,724 5,588 5,455 5,325
ASX 50 5,880 7.80 -0.13% 5,476 5,338 5,204 5,073
ASX 200 6,028 8.35 -0.14% 5,619 5,480 5,345 5,213
SHANGHAI 3,145 9.45 -0.30% 3,040 2,952 2,865 2,782
CSI 300 3,826 2.20 -0.06% 3,728 3,606 3,487 3,372
SHANGHAI 50 2,669 3.44 0.13% 2,604 2,509 2,417 2,329
SENSEX 34,663 318.20 0.93% 32,588 31,776 30,984 30,215
MICEX 2,294 1.56 -0.07% 2,179 2,108 2,040 1,973
TSX 16,114 20.18 -0.13% 14,877 14,580 14,288 14,003
KOSPI 2,464 2.39 -0.10% 2,338 2,271 2,205 2,141
iBovespa 80,122 744.98 -0.92% 80,570 76,711 73,039 69,535
IPC Mexico 45,433 343.60 -0.75% 45,498 44,341 43,215 42,118
AEX 562 3.45 -0.61% 510 497 484 471
SMI 8,771 24.00 -0.27% 8,360 8,127 7,900 7,680
JALSH-All Share 56,699 344.22 -0.60% 53,246 51,677 50,152 48,671
FTSE/JSE TOP 40 50,346 254.45 -0.50% 46,124 44,657 43,237 41,860
STI 3,524 4.46 -0.13% 3,259 3,179 3,102 3,027
Hang Seng 30,605 154.09 -0.50% 28,429 27,382 26,369 25,398
PSI Geral 3,255 20.85 -0.64% 2,909 2,835 2,764 2,694
NZX 50 8,644 8.28 0.10% 8,236 8,077 7,921 7,768
Euro Stoxx 50 3,522 20.06 -0.57% 3,223 3,129 3,038 2,950
Euronext 100 1,072 3.44 -0.32% 983 956 930 904
NIFTY 50 10,514 83.50 0.80% 9,998 9,748 9,505 9,270

America Price Day Q2/18 Q3/18 Q4/18 Q1/19
Dow Jones 24,812 75.05 -0.30% 22,844 22,146 21,472 20,817
S&P 500 2,728 5.53 -0.20% 2,506 2,434 2,365 2,298
NASDAQ 100 6,950 0.00 0.00% 6,112 5,878 5,652 5,435
NASDAQ 7,424 0.00 0.00% 6,700 6,466 6,242 6,024
S&P MidCap 400 1,952 1.02 0.05% 1,805 1,751 1,699 1,648
US 600 1,005 0.43 0.04% 899 869 839 810
Russell 2000 1,628 0.61 0.04% 1,461 1,413 1,365 1,320
S&P VIX 12.53 0.05 0.10% 14.78 9.12 5.63 3.47
US 100 10,211 37.03 -0.36% 9,659 9,393 9,134 8,882
Ecuador General Index 1,305 6.15 -0.47% 1,237 1,207 1,179 1,151
TSX 16,114 20.18 -0.13% 14,877 14,580 14,288 14,003
iBovespa 80,122 744.98 -0.92% 80,570 76,711 73,039 69,535
IPC Mexico 45,433 343.60 -0.75% 45,498 44,341 43,215 42,118
S&P/BVL Peru General Index TR (PEN) 20,989 81.58 0.39% 20,322 19,777 19,247 18,731
Merval 29,665 569.05 -1.88% 29,583 27,922 26,358 24,879
IBC 27,238 2,505.07 10.13% 4,137 3,249 2,552 2,004
COLCAP 1,528 5.15 0.34% 1,457 1,423 1,389 1,356
IGPA 28,167 234.44 -0.83% 26,673 25,753 24,863 24,007
BVPSI 488 0.09 -0.02% 456 452 448 444
BSX 2,781 28.82 1.05% 2,341 2,212 2,089 1,973
JSE 304,885 157.31 0.05% 283,409 264,063 246,024 229,203

Europe Price Day Q2/18 Q3/18 Q4/18 Q1/19
FTSE 100 7,717 71.70 -0.92% 6,826 6,656 6,490 6,327
FTSE All 4,245 33.57 -0.78% 3,773 3,685 3,599 3,514
DAX 12,855 121.75 -0.94% 11,500 11,143 10,796 10,460
CAC 40 5,548 17.40 -0.31% 4,963 4,817 4,674 4,536
FTSE MIB 22,749 162.63 -0.71% 21,478 20,705 19,959 19,241
IBEX 35 9,996 29.00 -0.29% 9,148 8,839 8,540 8,251
MICEX 2,294 1.56 -0.07% 2,179 2,108 2,040 1,973
AEX 562 3.45 -0.61% 510 497 484 471
BIST 100 101,138 753.60 -0.74% 109,035 104,614 100,387 96,319
SMI 8,771 24.00 -0.27% 8,360 8,127 7,900 7,680
OMXS 30 1,594 8.53 -0.53% 1,442 1,398 1,356 1,315
WIG 58,189 155.77 0.27% 56,568 54,871 53,227 51,629
WIG 20 2,213 3.94 0.18% 2,125 2,044 1,966 1,892
Euronext BEL 20 3,860 27.12 -0.70% 3,729 3,630 3,533 3,438
Oslo Bors All-Share 995 9.21 -0.92% 886 861 837 814
ATX 3,434 47.69 -1.37% 3,287 3,175 3,068 2,964
OMX Copenhagen 990 10.45 -1.04% 927 897 869 841
OMX Helsinki 10,228 45.43 -0.44% 9,115 8,853 8,599 8,352
OMX Helsinki 25 4,274 18.37 -0.43% 3,799 3,683 3,571 3,461
ISEQ 7,143 0.40 -0.01% 6,351 6,164 5,982 5,806
Athens General 771 14.04 -1.79% 747 716 686 658
PSI Geral 3,255 20.85 -0.64% 2,909 2,835 2,764 2,694
PSI 20 5,662 38.05 -0.67% 5,200 5,055 4,915 4,778
PX 1,103 3.88 0.35% 1,089 1,066 1,043 1,021
BET 8,264 81.21 -0.97% 8,488 8,253 8,024 7,801
BUX 35,893 436.10 1.23% 36,021 34,771 33,566 32,401
PFTS 451 15.44 -3.31% 353 348 342 337
SAX 330 2.48 -0.75% 317 304 292 280
LuxX 1,630 5.13 -0.31% 1,440 1,381 1,325 1,271
CROBEX 1,849 2.65 -0.14% 1,761 1,718 1,676 1,635
SOFIX 643 1.54 -0.24% 637 622 607 592
SBITOP 905 4.74 0.53% 800 781 762 743
OMX Vilnius 712 4.31 0.61% 684 664 645 626
BELEX 15 744 0.12 -0.02% 730 715 699 684
MBI 10 2,929 2.53 0.09% 2,743 2,673 2,606 2,540
CSE General 66 0.25 0.38% 65 63 62 60
MSE 4,325 5.71 0.13% 4,395 4,319 4,244 4,171
ICEX 1,339 1.50 0.11% 1,308 1,268 1,229 1,191
Euronext 100 1,072 3.44 -0.32% 983 956 930 904
OMX Riga 1,039 0.17 -0.02% 1,006 970 935 901
SASX-10 604 1.13 0.19% 615 596 578 560
Euro Stoxx 50 3,522 20.06 -0.57% 3,223 3,129 3,038 2,950
OMX Tallinn 1,259 5.15 0.41% 1,235 1,207 1,180 1,153
MONEX INDEX 10,040.06 26.01 -0.26% 9,948.85 9,641.89 9,343.15 9,054.67

Asia Price Day Q2/18 Q3/18 Q4/18 Q1/19
NIKKEI 225 22,455 30.47 0.14% 20,471 19,710 18,976 18,270
SHANGHAI 3,145 9.45 -0.30% 3,040 2,952 2,865 2,782
CSI 300 3,826 2.20 -0.06% 3,728 3,606 3,487 3,372
SHANGHAI 50 2,669 3.44 0.13% 2,604 2,509 2,417 2,329
SENSEX 34,663 318.20 0.93% 32,588 31,776 30,984 30,215
KOSPI 2,464 2.39 -0.10% 2,338 2,271 2,205 2,141
DSE Broad 5,430 68.60 1.28% 5,651 5,513 5,378 5,246
JCI 5,999 52.81 0.89% 6,004 5,855 5,710 5,568
TASI 8,038 1.24 -0.02% 7,632 7,408 7,190 6,978
TAIEX 10,973 36.44 0.33% 10,524 10,235 9,953 9,680
ADX General 4,601 15.52 0.34% 4,484 4,378 4,274 4,173
SET 50 1,140 16.27 -1.41% 1,113 1,091 1,068 1,046
FKLCI 1,795 18.88 1.06% 1,787 1,759 1,731 1,703
STI 3,524 4.46 -0.13% 3,259 3,179 3,102 3,027
TA-100 1,364 5.51 0.41% 1,240 1,211 1,183 1,156
Hang Seng 30,605 154.09 -0.50% 28,429 27,382 26,369 25,398
PSEi 7,613 39.88 -0.52% 7,739 7,489 7,247 7,013
KSE 100 42,536 236.09 -0.55% 43,932 41,862 39,893 38,012
KASE 2,497 0.31 -0.01% 2,342 2,270 2,200 2,133
QE 9,049 49.27 0.55% 8,295 7,915 7,553 7,207
HNX 117 0.19 0.16% 130 126 121 117
VN 980 6.34 -0.64% 1,148 1,106 1,065 1,025
Kuwait Price 6,633 0.00 0.00% 6,477 6,324 6,175 6,029
SECTMIND 416 0.00 0.00% 406 396 386 377
MSM TOP 30 4,564 7.75 0.17% 4,715 4,636 4,558 4,482
ASPI 6,475 3.11 0.05% 6,350 6,253 6,157 6,063
Blom 1,123 1.83 -0.16% 1,160 1,135 1,110 1,086
ASE 2,110 3.02 -0.14% 2,181 2,151 2,121 2,091
DFM general 2,954 7.79 0.26% 3,012 2,935 2,860 2,787
LSX Composite 926 4.77 -0.51% 887 842 799 758
MSE TOP 20 19,741 15.68 0.08% 18,861 17,682 16,578 15,542
NIFTY 50 10,514 83.50 0.80% 9,998 9,748 9,505 9,270
Nikkei Volatility Index 16.96 0.78 4.82% 16.79 12.27 8.96 6.55
Estirad 1,263.13 3.91 -0.31% 1,261.52 1,240.74 1,220.21 1,200.08

Australia Price Day Q2/18 Q3/18 Q4/18 Q1/19
Australian All 6,139 5.20 -0.08% 5,724 5,588 5,455 5,325
ASX 50 5,880 7.80 -0.13% 5,476 5,338 5,204 5,073
ASX 200 6,028 8.35 -0.14% 5,619 5,480 5,345 5,213
NZX 50 8,644 8.28 0.10% 8,236 8,077 7,921 7,768

Africa Price Day Q2/18 Q3/18 Q4/18 Q1/19
NSE-All Share 39,724 426.70 -1.06% 38,810 37,118 35,499 33,953
FTSE/JSE TOP 40 50,346 254.45 -0.50% 46,124 44,657 43,237 41,860
JALSH-All Share 56,699 344.22 -0.60% 53,246 51,677 50,152 48,671
Egypt EGX 30 16,634 28.58 -0.17% 16,928 16,366 15,823 15,298
Casablanca CFG 25 12,462 37.30 -0.30% 12,590 12,335 12,086 11,842
Nairobi 20 3,407 26.67 -0.78% 3,733 3,637 3,543 3,452
NSE All Share 177 0.48 -0.27% 186 180 174 169
DSEI 2,338 13.82 -0.59% 2,106 1,828 1,586 1,377
TUN 7,547 95.52 1.28% 7,045 6,946 6,848 6,752
GGSECI 3,295 14.24 -0.43% 3,290 3,210 3,132 3,055
NSX Overall 1,321 23.09 -1.72% 1,300 1,246 1,195 1,146
Gaborone 8,532 5.26 0.06% 8,515 8,441 8,367 8,295
SEMDEX 2,267 0.90 0.04% 2,261 2,234 2,209 2,183
Zimbabwe Industrial Index 351.60 0.35 0.10% 264.14 239.72 217.54 197.40

TRADING ECONOMICS forecasts are based on its analysts expectations and proprietary global macro models. We work hard to make sure any information we present is accurate and reliable. However, our forecasts are not recommendations to buy or sell nor we are a registered investment adviser. Moreover, the past performance of our models is not necessarily indicative of future results.