All three main US stock indexes ended the week on a high note, with the Dow Jones and the S&P 500 finishing at record closing levels on the back of a stimulus and vaccine-fuelled improvement in the economic outlook that fed expectations about a swifter economic recovery. Value-linked stocks and other hard-hit sectors benefited the most from the economic recovery, though growth names have found their footing again this week as Treasury yields retreated from more than one-year highs. Dovish Federal Reserve minutes released on Wednesday, which reiterated that the US central bank would keep financial conditions as lenient as possible for the foreseeable future, also kept sentiment elevated. On the data front, the US producer prices rose more than expected in March, recording the biggest annual gain in 9-1/2 years. During the week, the Dow added more than 1%, the S&P 500 gained nearly 2%, while the Nasdaq Composite rallied 2.4%.
Historically, the Dow Jones Industrial Average reached an all time high of 33810.87 in April of 2021. Dow Jones Industrial Average - data, forecasts, historical chart - was last updated on April of 2021.
The Dow Jones Industrial Average is expected to trade at 32884.24 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 30989.14 in 12 months time.