US stocks pulled back from session lows on Friday, ending flat amid lingering worries about soaring inflation hitting companies' profit margins, and an aggressive tightening potentially causing a recession. Disappointing forecasts from retailers, including Walmart and Target, have dented investors' mood this week. The latest casualty Ross Stores, saw its shares plunge over 22%, after the discount retailer cut its outlook for profit and sales. The Dow Jones Industrial Average closed up 8 points after being down more than 600 point, and the Nasdaq Composite fell 0.3% and is already deep in the bear market territory, trading 30% off its highs. The S&P 500 finished 0.01% higher after falling as much as 2.3%. For the week, the Dow is off by 2.9%, its first 8-week losing streak since 1923. The S&P 500 is also down by 3% and the Nasdaq lost 3.8%, their seventh-straight week of decline.
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 May of 2022.
The United States Stock Market Index (US30) is expected to trade at 31386.72 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 29190.52 in 12 months time.