US stocks closed higher after a volatile session on Thursday, with the Dow Jones adding almost 200 points, and both the S&P 500 and the Nasdaq rising over 0.5% driven by financial institutions and healthcare companies. Investors digested remarks from Fed chair Jerome Powell and ECB President Christine Lagarde about the need to bring down inflation to its respective target. During a session at the Cato Institute, Powell reiterated that the central bank would do what it takes to tame inflation, further curbing any speculation of an imminent policy pivot. In Europe, the ECB delivered a record 75 bps rate hike, with Lagarde providing a similar view regarding the need to tame price growth while pointing to a darkening growth outlook for the eurozone. On the corporate side, GameStop jumped over 6% after the company announced a partnership with cryptocurrency exchange FTX US.
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 September of 2022.
The United States Stock Market Index (US30) is expected to trade at 30484.64 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 27926.46 in 12 months time.