Wall Street closed modestly in the green on Tuesday, as oil prices declined following their biggest increase ever for a single session. Crude prices plunged on reports that Saudi Arabia may soon restore most of the output lost in the attacks to Aramco’s facilities. On the trade policy front, President Trump said the US and Japan have reached an initial trade agreement over tariffs, nudging Asia-exposed equities. On the corporate side, US prosecutors described JPMorgan’s metals trading desde as a criminal enterprise, raising uncertainty over the investigation of price fixing and sending bank shares lower. The Dow Jones edged up 33 points or 0.1%. The S&P 500 added 8 points or 0.3%. The Nasdaq climbed 33 points or 0.4%. Historically, the Dow Jones Industrial Average reached an all time high of 27398.68 in July of 2019 and a record low of 28.48 in August of 1896.
The Dow Jones Industrial Average is expected to trade at 26726.25 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 25625.87 in 12 months time.