The Dow climbed more than 200 points, the S&P 500 added 0.8% to hit a near six-month high and the Nasdaq Composite gained more than 1.5% to an all-time high helped by stronger-than-expected ISM PMI data, a clutch of upbeat quarterly earnings reports, and news about new potential COVID-19 treatment. McKesson Corp raised its full-year earnings forecast, Tyson Foods Inc topped quarterly profit estimates and Clorox beat quarterly sales and profit estimates. Also, Microsoft gained amid talks to acquire the US operations of Chinese-owned TikTok. Meanwhile, Pharmaceutical company Eli Lilly announced the start of a phase 3 trial of an experimental coronavirus antibody treatment that may prevent the virus spreading. Investors continue to monitor negotiations for a new relief package as Republicans and Democrats are eager to push through a bill before August 7th when the Senate is due to go into summer recess.
Historically, the Dow Jones Industrial Average reached an all time high of 29569.58 in February of 2020. Dow Jones Industrial Average - data, forecasts, historical chart - was last updated on August of 2020.
The Dow Jones Industrial Average is expected to trade at 25814.91 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 24327.21 in 12 months time.