All three major US stock indexes opened Thursday’s session deep in the red, with the S&P 500 heading for its worst first half since 1962 amid persistent concerns over the implications of soaring inflation and tighter monetary policy on the growth momentum. All three major averages are also on track to post sharp monthly, and quarterly losses, with technology stocks hit especially hard. Runaway price growth, aggressive rate hikes, and recession risks drove much of the selloff in equity markets in the first half, with Covid lockdowns in China and Russia’s invasion of Ukraine escalating volatility further. Meanwhile, the core PCE Price Index inflation, the preferred gauge of inflation by the Fed, eased to a six-month low of 4.7 percent in May 2022, indicating that price increases could be slowing. Inflation data followed worse-than-expected GDP figures and dire consumer confidence data earlier this week.
Historically, the United States Stock Market Index (US30) reached an all time high of 36952.65 in January of 2022. United States Stock Market Index (US30) - data, forecasts, historical chart - was last updated on June of 2022.
The United States Stock Market Index (US30) is expected to trade at 30653.31 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 28246.66 in 12 months time.