US Stocks closed modestly higher on Wednesday 23 January 2019, a day after the International Monetary Fund downwardly revised its growth estimates for the global economy. Stronger-than-expected earnings reports from IBM, United Technologies and Procter & Gamble nudged shares higher. The Dow Jones gines 171 points or 0.7% to 24576. The S&P 500 edged up 6 points or 0.2% to 2639. The Nasdaq advanced 6 points or 0.1% to 7026. Historically, the Dow Jones Industrial Average reached an all time high of 26828.39 in October of 2018 and a record low of 41.20 in July of 1932.
The Dow Jones Industrial Average is expected to trade at 22667.49 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 21661.84 in 12 months time.