Stock futures in the US traded only slightly higher on Wednesday, pausing after a rally in the previous day. Investors digest fresh monetary stimulus from the Fed, a record jump in retail sales and Trump Administration plans for a $1 trillion infrastructure proposal while concerns about a second wave of coronavirus continue to weigh on investors' mood. Florida saw a record high number of new infections and Texas hospitalisations surged while in China, schools were closed in Beijing and many flights were cancelled. Meanwhile, Fed Chair will deliver his second day of semiannual testimony to the Congress later in the day. On Tuesday, Powell reiterated the central bank is committed to using its full range of tools to boost the economy although there's a long way to go before the economy reverses from the coronavirus impact. On Tuesday, the Dow Jones climbed 527 points or 2% to 26,290. The S&P 500 added 58 points or 1.9% to 3125. The Nasdaq jumped 170 points or 1.8% to 9896.
Historically, the Dow Jones Industrial Average reached an all time high of 29569.58 in February of 2020. Dow Jones Industrial Average - data, forecasts, historical chart - was last updated on June of 2020.
The Dow Jones Industrial Average is expected to trade at 25815.89 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 24328.13 in 12 months time.