Wall Street ended Friday’s session little changed after a volatile trading week, with the Dow Jones and the S&P 500 extending gains for the third day while the Nasdaq Composite closed virtually unchanged following a move from the PBoC to ban cryptocurrencies and mounting concerns over a potential default from Evergrande. China’s central bank said on its website that all cryptocurrencies are not fiat currencies and cannot be circulated on the market. Meanwhile, the property group failed a payment to its foreign bondholders, leaving investors without any explanation whether the interest payment will be made, raising fears of contagion. On the corporate front, Nike shares fell more than 6% after lowering its sales outlook due to factory closures. For the week, the Dow rose 0.6% and the S&P 500 climbed 0.5% while the Nasdaq gained 0.02%.
Historically, the United States Stock Market Index (US30) reached an all time high of 35631.19 in August of 2021. United States Stock Market Index (US30) - data, forecasts, historical chart - was last updated on September of 2021.
The United States Stock Market Index (US30) is expected to trade at 33635.22 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 31503.80 in 12 months time.