US stocks extended gains for the third session on Friday, and snapped a 3-week losing streak as investors looked past hawkish headlines and piled into tech and growth stocks that have been battered since mid-August. Gains came ahead of next week's CPI report, which is expected to show inflation slowed to 8.1% in August from 8.5% in July. The market movement came a day after Fed chair Jerome Powell, in a speech at the Cato Institute, reiterated that the central bank would do what it takes to tame inflation, further curbing any speculation of an imminent policy pivot. The sentiment is likely to remain subdued in anticipation of an economic slowdown and more tightening. On the corporate side, DocuSign jumped more than 10% after the company reported quarterly results that surprised investors on the upside while offering strong guidance. The Dow added 377 points, the S&P 500 1.5% and the Nasdaq 2.1%. For the week, the Dow gained almost 3%, and both the S&P and the Nasdaq about 4%.
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.