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Wall Street Higher

Wall Street Higher


London, 14 March 2024


US equities saw a minor increase on Thursday, with the Dow Jones climbing 70 points and the S&P 500 and Nasdaq adding almost 0.1% as investors took in important economic data.





Retail sales fell short of expectations last month, while producer prices increased higher than anticipated and initial claims unexpectedly decreased. Prior to the data releases, the probability of a 25 basis point drop in the fed funds rate by the Fed in June was 61%, but it was now only 54%.


The two best-performing industries were energy and technology, with utilities being the biggest drag. In the business sector, Nvidia fell 1.1%, Tesla saw little change, and Microsoft (1.4%), Apple (1%), Amazon (0.2%), and Alphabet (1%) all saw increases. However, Nvidia's sales volumes will not increase this year, according to a Wells Fargo analyst. Regarding earnings, Adobe had increased by 0.7% prior to the announcement.


Forecast


The US 500, the primary stock market index, has risen 377 points, or 7.90%, since the start of 2024, based on trading on a contract for difference (CFD) that mirrors this benchmark index from the US. By the end of this quarter, Trading Economics global macro models and analysts anticipate that the US S&P Index will trade at 5065.29 points. In the future, we predict that it will trade at 4961.24 in a year. Source: Trading Economics


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