Wall Street closed in the green on Friday 15 February 2019, as investors’ sentiment was boosted by news of progress on US-China trade dispute. Talks between the two countries are set to continue next week in Washington in an effort to achieve a trade deal before the March 1st deadline. Also, sentiment was nudged by US consumer sentiment, which rose to 95.5 in February of 2019 from 91.2 in January. The Dow Jones gained 444 points or 1.8% to 25883, booking its eighth straight weekly gain. The S&P 500 climbed 30 points or 1.1% to 2776. The Nasdaq added 46 points or 0.6% to 7472. Historically, the Dow Jones Industrial Average reached an all time high of 26828.39 in October of 2018 and a record low of 41.20 in July of 1932.
The Dow Jones Industrial Average is expected to trade at 24598.70 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 23471.83 in 12 months time.