All three main US stock indexes lost significant ground on Friday, with the S&P 500 retreating from records set on the last session amid a broader market sell-off led by the energy sector. With much of the good news on the corporate earnings and economic front already priced into the market, worries about rising coronavirus cases and soaring Treasury yields once again kept sentiment subdued. Amazon.com reported Thursday a record first-quarter profit, while Twitter offered tepid revenue guidance for the second quarter. On the economic data front, the US economy advanced at an annual rate of 6.4% in the first quarter of 2021, reflecting the continued economic recovery, with recent data, including upbeat personal income and spending figures and a better-than-expected jobless claims report, pointing that way. Despite Friday’s weakness in equities, the S&P 500 rose nearly 5.3% in April, while the Dow added about 3% and the Nasdaq gained 5.4%.
Historically, the Dow Jones Industrial Average reached an all time high of 34256.75 in April of 2021. Dow Jones Industrial Average - data, forecasts, historical chart - was last updated on May of 2021.
The Dow Jones Industrial Average is expected to trade at 33333.03 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 31412.06 in 12 months time.