US stocks fell sharply on Friday, amid mixed economic data along with a series of hawkish remarks by Federal Reserve officials, while fears over the new Omicron Covid-19 variant mounted. A stronger-than-expected ISM report reignited fears of inflationary pressure and rising interest rates. At the same time, the US economy added the least jobs this year 210k (vs 550k, expected), the unemployment rate eased more than expected to 4.2%, while the labor force participation rate ticked up to 61.8%. The technology-heavy Nasdaq Composite plunged as much as 1.9% to the lowest since October 18th, dragged down by Apple and Meta Platforms Inc losses. The iPhone maker slipped on news that at least nine US State Department employees had their iPhone hacked. Meanwhile, the S&P dropped 0.9% to trade near levels not seen since October 15th, amid a sharp fall in big techs stocks. At last, the Dow Jones slipped 0.2%, partially offsetting last session gains.
Historically, the United States Stock Market Index (US30) reached an all time high of 36565.73 in November of 2021. United States Stock Market Index (US30) - data, forecasts, historical chart - was last updated on December of 2021.
The United States Stock Market Index (US30) is expected to trade at 33914.04 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 31987.85 in 12 months time.