Stock Market - Forecast - 2018/2020

TRADING ECONOMICS expects stock markets to fall further and more rapidly than most investors anticipate on speculation that economic growth will be hurt by an ugly trade war between the United States and China. In addition, geopolitical tensions between Saudi Arabia and Iran, Russia and the European union are likely to take center stage in the second part of 2018 hurting investors appetite for risky assets even further. Then, the removal of excessive monetary liquidity from the financial system by central banks will make it more expensive for companies to borrow to buy their own stocks and investors to take loans to leverage their stock portfolios. TRADING ECONOMICS provides forecasts for major stock market indexes and shares based on its analysts expectations and proprietary global macro models. The current forecasts were last revised on August 29 of 2018. Please consider that while TRADING ECONOMICS forecasts are made using our best efforts, they are not investment recommendations.


Major Price Day Q3/18 Q4/18 Q1/19 Q2/19
Dow Jones 26,492 69.84 -0.26% 25,777 25,482 25,193 24,906
S&P 500 2,916 3.81 -0.13% 2,872 2,840 2,807 2,775
NASDAQ 100 7,563 0.00 0.00% 7,531 7,445 7,360 7,276
NASDAQ 8,007 0.00 0.00% 7,965 7,874 7,784 7,696
S&P MidCap 400 2,031 1.55 -0.08% 2,016 1,993 1,971 1,948
US 600 1,068 0.94 0.09% 1,079 1,067 1,055 1,043
Russell 2000 1,709 3.49 0.20% 1,706 1,687 1,667 1,648
S&P VIX 12.42 0.22 -0.04% 12.31 12.17 12.03 11.89
US 100 10,824 28.23 -0.26% 10,560 10,439 10,320 10,203
NIKKEI 225 23,981 47.88 0.20% 22,553 22,263 21,975 21,692
FTSE 100 7,508 49.15 0.66% 7,496 7,430 7,363 7,298
FTSE All 4,132 21.14 0.51% 4,125 4,088 4,052 4,016
DAX 12,375 23.84 0.19% 12,378 12,238 12,100 11,964
CAC 40 5,479 2.93 0.05% 5,433 5,382 5,333 5,283
FTSE MIB 21,669 329.12 1.54% 20,313 20,052 19,793 19,538
IBEX 35 9,494 19.20 -0.20% 9,428 9,323 9,220 9,117
Australian All 6,308 9.30 0.15% 6,412 6,367 6,322 6,278
ASX 200 6,194 7.77 0.13% 6,308 6,263 6,219 6,176
ASX 50 6,032 3.20 0.05% 6,142 6,099 6,057 6,014
SHANGHAI 2,789 8.36 0.30% 2,734 2,698 2,664 2,629
CSI 300 3,390 9.92 0.29% 3,343 3,300 3,257 3,215
SHANGHAI 50 2,559 11.13 0.44% 2,471 2,439 2,408 2,377
SENSEX 36,652 347.04 0.96% 38,381 38,060 37,738 37,421
MICEX 2,444 14.21 0.58% 2,301 2,270 2,239 2,209
TSX 16,160 47.82 -0.30% 16,248 16,140 16,033 15,929
KOSPI 2,339 15.72 0.68% 2,285 2,262 2,239 2,216
iBovespa 78,630 645.96 0.83% 76,210 74,971 73,747 72,546
IPC Mexico 49,652 234.33 0.47% 49,534 49,049 48,568 48,093
AEX 553 4.21 0.77% 557 552 547 542
SMI 9,022 75.39 0.84% 8,961 8,873 8,787 8,701
FTSE/JSE TOP 40 50,659 327.69 -0.64% 53,262 52,623 51,992 51,368
JALSH-All Share 56,883 281.50 -0.49% 59,334 58,619 57,916 57,226
STI 3,250 13.55 0.42% 3,210 3,179 3,149 3,118
Hang Seng 27,946 447.15 1.63% 28,019 27,626 27,240 26,859
PSI Geral 3,183 18.39 0.58% 3,214 3,184 3,154 3,124
NZX 50 9,335 10.55 -0.11% 9,299 9,235 9,173 9,111
Euro Stoxx 50 3,420 9.34 0.27% 3,410 3,377 3,345 3,313
Euronext 100 1,063 2.58 0.24% 1,063 1,053 1,043 1,033
NIFTY 50 11,067 100.05 0.91% 11,618 11,521 11,424 11,328

America Price Day Q3/18 Q4/18 Q1/19 Q2/19
Dow Jones 26,492 69.84 -0.26% 25,777 25,482 25,193 24,906
S&P 500 2,916 3.81 -0.13% 2,872 2,840 2,807 2,775
NASDAQ 100 7,563 0.00 0.00% 7,531 7,445 7,360 7,276
NASDAQ 8,007 0.00 0.00% 7,965 7,874 7,784 7,696
S&P MidCap 400 2,031 1.55 -0.08% 2,016 1,993 1,971 1,948
US 600 1,068 0.94 0.09% 1,079 1,067 1,055 1,043
Russell 2000 1,709 3.49 0.20% 1,706 1,687 1,667 1,648
S&P VIX 12.42 0.22 -0.04% 12.31 12.17 12.03 11.89
US 100 10,824 28.23 -0.26% 10,560 10,439 10,320 10,203
Ecuador General Index 1,405 10.58 0.76% 1,337 1,330 1,323 1,316
TSX 16,160 47.82 -0.30% 16,248 16,140 16,033 15,929
iBovespa 78,630 645.96 0.83% 76,210 74,971 73,747 72,546
IPC Mexico 49,652 234.33 0.47% 49,534 49,049 48,568 48,093
S&P/BVL Peru General Index TR (PEN) 19,585 10.02 0.05% 19,460 19,283 19,106 18,933
Merval 34,053 889.01 2.68% 24,340 23,666 23,010 22,372
IBC 319,701 15,700.94 5.16% 317,530 284,381 254,705 228,114
COLCAP 1,489 3.73 -0.25% 1,535 1,521 1,508 1,495
IGPA 27,181 112.00 -0.41% 26,362 26,047 25,738 25,431
BVPSI 458 3.88 -0.84% 470 468 466 464
BSX 2,876 9.42 0.33% 2,873 2,819 2,766 2,715
JSE 26,206,695 25,848,065.56 7,207.46% 325,231 320,913 316,628 312,442

Europe Price Day Q3/18 Q4/18 Q1/19 Q2/19
FTSE 100 7,508 49.15 0.66% 7,496 7,430 7,363 7,298
FTSE All 4,132 21.14 0.51% 4,125 4,088 4,052 4,016
DAX 12,375 23.84 0.19% 12,378 12,238 12,100 11,964
CAC 40 5,479 2.93 0.05% 5,433 5,382 5,333 5,283
FTSE MIB 21,669 329.12 1.54% 20,313 20,052 19,793 19,538
IBEX 35 9,494 19.20 -0.20% 9,428 9,323 9,220 9,117
MICEX 2,444 14.21 0.58% 2,301 2,270 2,239 2,209
AEX 553 4.21 0.77% 557 552 547 542
BIST 100 99,292 254.97 -0.26% 91,851 90,214 88,606 87,035
SMI 9,022 75.39 0.84% 8,961 8,873 8,787 8,701
OMXS 30 1,657 1.70 0.10% 1,653 1,635 1,618 1,600
WIG 59,106 218.76 0.37% 60,652 59,977 59,315 58,652
WIG 20 2,290 9.59 0.42% 2,356 2,330 2,304 2,278
Euronext BEL 20 3,751 3.59 0.10% 3,782 3,750 3,717 3,685
Oslo Bors All-Share 1,079 19.80 1.87% 1,027 1,017 1,006 996
ATX 3,384 16.59 0.49% 3,273 3,235 3,197 3,160
OMX Copenhagen 987 11.24 1.15% 1,014 1,003 992 981
OMX Helsinki 10,215 6.13 -0.06% 10,276 10,171 10,067 9,964
OMX Helsinki 25 4,347 10.96 0.25% 4,335 4,291 4,247 4,204
ISEQ 6,560 23.60 -0.36% 6,742 6,681 6,620 6,561
Athens General 700 9.93 1.44% 724 713 703 692
PSI Geral 3,183 18.39 0.58% 3,214 3,184 3,154 3,124
PSI 20 5,391 29.73 0.55% 5,445 5,394 5,344 5,293
PX 1,106 12.88 1.18% 1,071 1,064 1,056 1,048
BET 8,378 0.67 0.01% 8,261 8,181 8,101 8,023
BUX 35,869 82.34 0.23% 36,374 35,858 35,349 34,847
PFTS 538 0.57 -0.11% 516 504 493 481
SAX 328 0.00 0.00% 343 338 333 328
LuxX 1,693 16.58 0.99% 1,676 1,652 1,629 1,605
CROBEX 1,797 13.25 -0.73% 1,807 1,794 1,782 1,769
SOFIX 624 0.04 0.01% 626 621 616 611
SBITOP 848 9.57 -1.12% 857 850 843 836
OMX Vilnius 689 2.92 -0.42% 699 693 686 680
BELEX 15 728 2.81 -0.38% 730 726 721 717
CSE General 73 0.37 0.51% 74 73 72 71
ICEX 1,254 3.17 -0.25% 1,261 1,249 1,236 1,224
OMX Riga 981 8.45 -0.85% 969 955 940 926
SASX-10 643 9.35 -1.43% 622 614 607 600
MSE 4,325 28.43 -0.65% 4,261 4,233 4,206 4,179
MBI 10 3,442 3.48 0.10% 3,347 3,315 3,283 3,251
Euronext 100 1,063 2.58 0.24% 1,063 1,053 1,043 1,033
Euro Stoxx 50 3,420 9.34 0.27% 3,410 3,377 3,345 3,313
OMX Tallinn 1,215 3.71 -0.30% 1,212 1,204 1,195 1,187
MONEX INDEX 10,429.29 2.78 -0.03% 10,244.35 10,145.04 10,046.76 9,949.52

Asia Price Day Q3/18 Q4/18 Q1/19 Q2/19
NIKKEI 225 23,981 47.88 0.20% 22,553 22,263 21,975 21,692
SHANGHAI 2,789 8.36 0.30% 2,734 2,698 2,664 2,629
CSI 300 3,390 9.92 0.29% 3,343 3,300 3,257 3,215
SHANGHAI 50 2,559 11.13 0.44% 2,471 2,439 2,408 2,377
SENSEX 36,652 347.04 0.96% 38,381 38,060 37,738 37,421
KOSPI 2,339 15.72 0.68% 2,285 2,262 2,239 2,216
DSE Broad 5,387 29.34 0.55% 5,559 5,508 5,458 5,407
JCI 5,898 23.66 0.40% 5,994 5,924 5,855 5,786
TASI 7,905 141.90 1.83% 7,926 7,853 7,780 7,707
TAIEX 10,977 1.61 -0.01% 10,987 10,876 10,767 10,658
ADX General 4,892 3.00 0.06% 4,920 4,877 4,835 4,793
SET 50 1,159 3.07 0.27% 1,131 1,120 1,109 1,099
FKLCI 1,797 2.29 0.13% 1,806 1,791 1,777 1,762
STI 3,250 13.55 0.42% 3,210 3,179 3,149 3,118
TA-100 1,505 0.19 0.01% 1,472 1,460 1,448 1,436
Hang Seng 27,946 447.15 1.63% 28,019 27,626 27,240 26,859
PSEi 7,308 24.56 -0.34% 7,725 7,621 7,518 7,417
KSE 100 41,036 31.75 0.08% 41,603 41,051 40,503 39,967
KASE 2,187 5.84 -0.27% 2,209 2,187 2,166 2,144
QE 9,713 18.23 -0.19% 9,690 9,555 9,423 9,291
VN 1,011 0.55 -0.05% 971 954 937 920
HNX 116 0.53 0.46% 111 109 107 105
Kuwait Price 6,633 0.00 0.00% 6,580 6,528 6,476 6,424
SECTMIND 416 0.00 0.00% 412 409 406 403
MSM TOP 30 4,485 32.16 0.72% 4,395 4,360 4,324 4,289
ASPI 5,834 71.32 -1.21% 6,016 5,988 5,960 5,932
Blom 971 5.40 -0.55% 991 985 979 973
ASE 1,987 2.74 -0.14% 1,976 1,965 1,955 1,945
DFM general 2,754 0.75 0.03% 2,807 2,783 2,759 2,735
LSX Composite 880 30.09 3.54% 863 850 837 824
MSE TOP 20 19,913 48.18 0.24% 19,045 18,662 18,287 17,920
NIFTY 50 11,067 100.05 0.91% 11,618 11,521 11,424 11,328
All-Share Index 5,136.50 46.82 0.92% 5,074.74 5,034.15 4,993.87 4,953.92
Nikkei Volatility Index 16.48 0.31 1.92% 14.29 14.11 13.93 13.75
Estirad 1,355.34 0.79 -0.06% 1,337.57 1,329.50 1,321.56 1,313.62

Australia Price Day Q3/18 Q4/18 Q1/19 Q2/19
Australian All 6,308 9.30 0.15% 6,412 6,367 6,322 6,278
ASX 200 6,194 7.77 0.13% 6,308 6,263 6,219 6,176
ASX 50 6,032 3.20 0.05% 6,142 6,099 6,057 6,014
NZX 50 9,335 10.55 -0.11% 9,299 9,235 9,173 9,111

Africa Price Day Q3/18 Q4/18 Q1/19 Q2/19
NSE-All Share 33,114 663.17 2.04% 35,133 34,717 34,308 33,903
FTSE/JSE TOP 40 50,659 327.69 -0.64% 53,262 52,623 51,992 51,368
JALSH-All Share 56,883 281.50 -0.49% 59,334 58,619 57,916 57,226
Egypt EGX 30 14,359 157.96 1.11% 15,586 15,387 15,190 14,996
Casablanca CFG 25 11,239 98.04 0.88% 11,612 11,531 11,452 11,373
Nairobi 20 2,873 0.01 0.00% 3,227 3,201 3,176 3,150
NSE All Share 149 0.30 -0.20% 172 170 169 168
DSEI 2,072 8.07 -0.39% 2,193 2,165 2,137 2,109
TUN 7,839 3.65 -0.05% 8,380 8,332 8,285 8,237
GGSECI 2,821 44.01 1.58% 2,785 2,759 2,733 2,707
NSX Overall 1,324 15.71 -1.17% 1,321 1,300 1,279 1,258
Gaborone 8,148 5.87 0.07% 8,125 8,111 8,097 8,083
SEMDEX 2,223 5.99 -0.27% 2,220 2,212 2,204 2,196
Zimbabwe Industrial Index 376.42 0.44 0.12% 375.29 363.48 352.01 340.92

TRADING ECONOMICS forecasts are based on its analysts expectations and proprietary global macro models. We work hard to make sure any information we present is accurate and reliable. However, our forecasts are not recommendations to buy or sell nor we are a registered investment adviser. Moreover, the past performance of our models is not necessarily indicative of future results.